On April 13, 2021, the American Retirement Association wrote to the Internal Revenue Service to request guidance on certain provisions in the American Rescue Plan Act regarding single-employer pension plan funding relief. (more…)
About the American Retirement Association
The American Retirement Association (ARA) is the coordinating entity for its five underlying affiliate organizations representing the full spectrum of America’s private retirement system: the American Society of Pension Professionals and Actuaries; the American Society of Enrolled Actuaries; the National Association of Plan Advisors; the National Tax-Deferred Savings Association; and the Plan Sponsor Council of America.
The ARA’s diverse membership made up of over 25,000 individuals who provide consulting and administrative services to American workers, savers, and the sponsors of retirement plans – including organizations of all sizes and industries across the nation who sponsor and/or support retirement saving plans – are united in their common dedication to the success of America’s private retirement system.
On February 5, 2021, the American Retirement Association wrote to the Internal Revenue Service in response to Notice 2020-86 that provided guidance on the SECURE Act provisions which eliminated certain safe harbor notice requirements and allowed for the retroactive adoption of safe harbor status. (more…)
On February 3, 2021, the American Retirement Association wrote to the Internal Revenue Service in response to Notice 2020-80 and Revenue Ruling 2020-23 that provided guidance on a distribution of an individual custodial account in-kind for a 403(b) plan participant. The ARA asked IRS to clarify that a 403(b) plan is never treated as a...
On November 30, 2020, the American Retirement Association wrote to the Department of Labor to ask that the Form 5500 and related instructed be revised so that the determination of whether a plan is exempt from the annual audit requirement is based on the number of plan participants (including long-term part-time employees) with account balances...
On November 17, 2020, the American Retirement Association wrote to the Department of Labor with comments on the Interim Final Rule regarding Lifetime Income Illustrations on the Pension Benefit Statements. In the letter, the ARA told DOL it strongly supports enhancing participants’ understanding of their retirement plan benefits. (more…)
On November 9, 2020, the American Retirement Association wrote to the Internal Revenue Service in response Revenue Procedure 2019-19 to make future improvements to the Employee Plans Compliance Resolution System (EPCRS). (more…)
On November 2, 2020, the American Retirement Association wrote to the Internal Revenue Service to comment on Notice 2020-68 to reduce potential administrative burdens when implementing the new long-term part-time (LTPT) employee rules included in Section 112 of the SECURE Act. (more…)
On October 5, 2020, the Plan Sponsor Council of America, part of the American Retirement Association, wrote to the Department of Labor to comment on the proposed Fiduciary Duties Regarding Proxy Voting and Shareholder Rights. PSCA is concerned that the proposal would increase litigation risks for plan sponsors and plans and believes existing guidance adequately...
On October 1, 2020, the American Retirement Association wrote to the Department of Labor to comment on the proposed Registration Requirements for Pooled Plan Providers with the primary concern being that the proposal underestimates the time needed to comply with the registration requirements before January 1, 2021. (more…)
On October 1, 2020, the American Retirement Association and 16 other organizations wrote to the Department of Treasury and Internal Revenue Service to request the temporary relief from the physical presence requirement for spousal consent in Notice 2020-42 be made permanent or at minimum be extended for an additional year. (more…)