SEC Regulation Best Interest Recommendations
The American Retirement Association wrote the Securities and Exchange Commission with several recommendations to improve the proposed Regulation Best Interest regulatory package. (more…)
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.
The American Retirement Association wrote the Securities and Exchange Commission with several recommendations to improve the proposed Regulation Best Interest regulatory package. (more…)
President Trump and Congressional Republicans want to keep the focus on tax policy heading into the midterm elections. To that end, House Ways & Means Committee Chairman Kevin Brady (R-TX, 8th) publicly announced at the end of June that he will begin circulating a tax reform 2.0 draft proposal to the House Republican caucus after...
The American Retirement Association wrote to the Internal Revenue Service to provide input on Revenue Procedure 2017-41, the revision of the pre-approved plan document program. The letter asks for clarification on certain provisions of the new procedures, make recommendations for further enhancements, and requests a 5-month extension of the submission deadline for Cycle 3 defined...
The Plan Sponsor Council of America, part of the American Retirement Association, wrote to both the Departments of Labor and Treasury with recommendations for guidance with respect to ERISA and Internal Revenue Code compliance issues that arise when there is a missing or nonresponsive retirement plan participant. (more…)
The American Retirement Association wrote to the Internal Revenue Service to recommend an order of priority for Retirement Benefit items to be included on the 2018-2019 Priority Guidance Plan in response to IRS Notice 2018-43. (more…)
The American Retirement Association wrote to the Department of Labor objecting to language being used in recent letters to plan sponsors who reported the correction of late deposit violations outside of the Voluntary Fiduciary Correction Program (VFCP). The American Retirement Association requested that the Department immediately cease threatening that “alternative enforcement measures” may be taken...
The American Retirement Association and the Investment Company Institute wrote to the Department of Labor to highlight for the Department’s consideration a recently released 2018 update to the 2011 study, “Delivering ERISA Disclosure for Defined Contribution Plans: Why the Time Has Come to Prefer Electronic Delivery” and to request a meeting in person to review...
The American Retirement Association wrote to the Internal Revenue Service asking for the expansion of the Self Correction Program (SCP) under the Employee Plans Compliance Resolution System (EPCRS) in response to Revenue Procedure 2018-4 and Revenue Procedure 2016-51. (more…)
Congress is expected to vote for the fifth time this week to temporarily extend (this time through March 22) the current levels of funding for federal operations under what is called a continuing resolution. The federal government has been functioning in this way since the 2018 fiscal year began on September 30, 2017 due to...
The American Retirement Association wrote to the Internal Revenue Service expressing concern with the recent revision of the user fees for the Voluntary Correction Program (VCP) submissions under the Employee Plans Compliance Resolution System (EPCRS) as announced in Revenue Procedure 2018-4. (more…)
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