Comment Letters
The American Retirement Association, on behalf of its five retirement industry associations, engages with regulators on an ongoing basis through correspondence on the various regulatory projects that impact our membership.
This engagement enables the American Retirement Association to detail its policy positions to the regulators and give recommendations on how to improve the rules governing the employer-based retirement plan system.
On June 10, 2021, the American Retirement Association wrote to the Securities and Exchange Commission (SEC) to respond to the request for input on climate-related financial disclosures. The American Retirement Association urged the SEC to include clear, consistent easily understood information accounting for the widest array of investors in these…
On May 27, 2021, the American Retirement Association wrote to the Internal Revenue Service to provide input on the Retirement Benefit items to be included on the 2021-2022 Priority Guidance Plan. (more…)
On May 21, 2021, the American Retirement Association wrote to the Internal Revenue Service requesting guidance to clarify that long-term part-time (LTPT) employees who enter a retirement plan before 2024 are not subject to the accelerated vesting rules. (more…)
On April 26, 2021, the American Retirement Association and 6 other organizations wrote to the Department of Treasury and Internal Revenue Service to ask for improvements to the early release drafts of IRS Forms W-4P and W-4R for the 2022 tax year. (more…)
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…)
On March 23, 2021, the American Retirement Association and Ceres wrote to the Department of Labor with concerns about the ESG Final Rule. The ARA to asked the Department to issue FAQs clarifying the ESG factors are material financial factors under the Rule and to modify the Rule to permit…
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…
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…
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…
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.…
On August 6, 2020, the American Retirement Association wrote to the Department of Labor to comment on the proposed class exemption for investment advice for workers and retirees. In the letter, the American Retirement Association supports the application for an ERISA fiduciary standard for rollover advice, requests clarification of the…
On July 30, 2020, the American Retirement Association wrote to the Department of Labor to provide our views on their proposed rule concerning Financial Factors in Selecting Plan Investments. Specifically, ARA does not believe DOL guidance should discourage ERISA fiduciaries from considering environmental, social, governance (ESG) factors as they evaluate…
On July 22, 2020, the American Retirement Association wrote to the Internal Revenue Service to provide input on the Retirement Benefit items to be included on the 2020-2021 Priority Guidance Plan. (more…)
On July 20, 2020, the American Retirement Association wrote to the Department of Labor to respond to the Request for Information regarding prohibited transactions involving Pooled Employer Plans under the SECURE Act. (more…)
On June 24, 2020, the American Retirement Association wrote to the Internal Revenue Service to ask for an additional extension of the 403(b) plan remedial amendment period and highlight the need for correction methods for future 403(b) plan document failures. (more…)
The American Retirement Association wrote to the Department of Labor to outline the relief needed from ERISA’s prohibited transaction rules for service providers to Pooled Employer Plans. (more…)
The American Retirement Association and Investment Company Institute wrote to the Department of Treasury regarding the in-kind distribution of custodial accounts upon termination of a 403(b) plan to request guidance that properly implements Section 110 of the SECURE Act. (more…)
The American Retirement Association wrote to the Internal Revenue Service to recommend improvements in the interim amendment process for pre-approved plan documents. Specifically, the ARA requested that interim amendments for all pre-approved plans will not be required until the end of the second calendar year that begins after the issuance…
The American Retirement Association and 14 other organizations wrote to the Office of Management and Budget in support of the Department of Labor’s rule regarding Default Electronic Disclosure by Employee Pension Benefit Plans under the Employee Retirement Income Security Act (ERISA). (more…)
The American Retirement Association wrote to the Department of Labor to request relief due to the impact of the COVID-19 pandemic relating to certain ERISA notice and disclosure requirements, with a table summarizing the requirements for which we believe extensions between 90 to 120 days are warranted. (more…)
The American Retirement Association wrote to the Department of Treasury to follow up on the request for tax filing and other relief due to the impact of the COVID-19 pandemic and to highlight additional requests for relief. (more…)
The American Retirement Association wrote to the Departments of Labor and Treasury to request tax filing and other relief due to the impact of the COVID-19 pandemic, including extensions of Form 5500 deadlines, extensions of the defined benefit restatement deadline, and reasonable relief from participant notices. (more…)
The American Retirement Association wrote to the Internal Revenue Service to ask for a one-year extension of the section 403(b) plan remedial amendment period and a reduced Voluntary Compliance Program (VCP) user fee for a 403(b) plan document failure. (more…)
The American Retirement Association wrote to the Internal Revenue Service to follow up on a request for an explanation of our testimony at the public hearing on the Notice of Proposed Rulemaking regarding updated life expectancy and distribution period tables used for purposes of determining required minimum distributions. The letter…
The American Retirement Association wrote to the Department of Treasury and the Internal Revenue Service to request guidance on certain issues related to the enactment of the Setting Every Community Up for Retirement Enhancement (SECURE) Act. (more…)
The American Retirement Association wrote to the Department of Labor to request guidance on certain issues related to the enactment of the Setting Every Community Up for Retirement Enhancement (SECURE) Act. (more…)
The American Retirement Association wrote to the Internal Revenue Service to comment on the Department of Treasury’s and Internal Revenue Service’s Notice of Proposed Rulemaking regarding updated life expectancy and distribution period tables used for purposes of determining required minimum distributions. In the letter the American Retirement Association recommends that…
The American Retirement Association wrote to the Department of Labor to comment on the proposed rule to create a new additional safe harbor for the use of electronic media by employee benefit plans to furnish information to participants and beneficiaries. (more…)
The American Retirement Association wrote to the Department of Labor to provide responses to the Department of Labor’s Request for Information (RFI) on the general disclosure framework under the Employee Retirement Income Security Act of 1974 (ERISA), focusing on design, delivery, and content. (more…)
On November 7, 2019, the American Retirement Association wrote to the Department of Labor to request clarification of current guidance on plan expenses. Specifically, the American Retirement Association requests an Advisory Opinion from the Department to permit the use of plan assets to pay for certain limited service provider interactions…
The American Retirement Association wrote to the Department of Labor about the appropriate reporting of transfers of funds between 403(b) plans on Schedules H and I to the Form 5500. (more…)
The American Retirement Association wrote to the Internal Revenue Service in response to IRS Notice 2018-95 to ask for further clarifications with respect to the Once-In Always-In (OIAI) rule. (more…)
The American Retirement Association wrote to the Department of Labor to answer the Request for Information on whether the Department should further amend their regulations to facilitate the sponsorship of open multiple employer plans. (more…)
The American Retirement Association and certain individual retirement industry firms wrote to the Internal Revenue Service to request a meeting on an urgent matter relating to the final hardship distribution rules asking for an extension for the interim amendment deadline for providers of prototypes and/or mass volume submitter retirement plans.…
The American Retirement Association wrote to the Internal Revenue Service on their proposal to provide an exception to the unified plan rule (or one bad apple rule) for defined contribution multiple employer plans (MEPs) to recommend a more expansive process to cover additional situations as well as specific recommendations on…
The American Retirement Association responded to the Pension Benefit Guaranty Corporation’s request for comments on proposed regulations that make miscellaneous technical corrections, clarifications, and improvements to its rules on Reportable Events and Certain Other Notification Requirements, Annual Financial and Actuarial Information Reporting, Termination of Single-Employer Plans, and Premium Rates. (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 2019-2020 Priority Guidance Plan in response to IRS Notice 2019-30. (more…)
The American Retirement Association wrote to request that the Internal Revenue Service issue guidance regarding the calculation of the deduction limit for a single-employer defined benefit plan under Section 404(o) of the Internal Revenue Code. (more…)
The American Retirement Association wrote to the Department of Labor requesting that the ERISA Advisory Council examine the Department’s outstanding guidance concerning the extent to which an ERISA-covered retirement plan may pay the costs attendant to a plan sponsor’s decisions about plan design and other features to encourage retirement savings.…
On February 4, 2019, the American Retirement Association wrote to the Pension Benefit Guaranty Corporation (PBGC) on the proposed form and instructions for PBGC determinations as to whether or not a pension plan is covered by the PBGC. (more…)
The American Retirement Association wrote to the Internal Revenue Service on proposed regulations pertaining to hardship distributions from section 401(k) plans. The proposed regulations reflect changes to the law made by the 2017 tax reform bill known as the Tax Cuts and Jobs Act and the Bipartisan Budget Act of…
The Plan Sponsor Council of America, part of the American Retirement Association, wrote to the Department of Treasury to request additional guidance from the Department regarding student loan repayment programs being an additional design option for qualified retirement plans. (more…)
The American Retirement Association wrote to the Department of Labor with recommendations to clarify and improve the proposal that set the circumstances under which an employer group or association or a professional employer organization (PEO) may sponsor a multiple employer plan (MEP). (more…)
The American Retirement Association wrote to the Department of Labor in support of the Department’s Proposed Exemption for Retirement Clearinghouse, LLC to facilitate the adoption and use of the RCH Auto-Portability Program. Generally, the Program is intended to help employees consolidate small accounts accumulated in multiple employer sponsored qualified retirement…
The American Retirement Association wrote to the Securities and Exchange Commission with additional comments on applying the protections of Regulation Best Interest to small retirement plan fiduciaries. (more…)
The American Retirement Association wrote to the Department of Labor to provide input on President Trump’s Executive Order on Retirement Security that directed the Department to explore ways to improve the effectiveness of required disclosures and notices under ERISA and the Internal Revenue Code. (more…)
The American Retirement Association wrote to the Internal Revenue Service in response to Revenue Procedure 2018-52 regarding the future enhancement of the Employee Plans Compliance Resolution System (EPCRS). In the letter, the American Retirement Association recommends that the IRS provide clarification to the terms “significant” and “insignificant” failures through additional…
The American Retirement Association wrote to the Securities and Exchange Commission to follow-up on a few outstanding questions about the need to apply Regulation Best Interest to small retirement plan fiduciaries presented to the Commission during an in-person meeting on October 10, 2018. (more…)
The American Retirement Association wrote to the Treasury Department in response to President Trump’s Retirement Security Executive Order which directed the Treasury to determine whether the life expectancy and distribution period tables for the required minimum distribution rules should be updated. The American Retirement Association provided recommendations on the timing…
The American Retirement Association wrote to the Internal Revenue Service to ask for relief for taxpayers and service providers adversely affected by Hurricane Florence. Specifically, American Retirement Association asked for hardship distribution relief and Form 5500 filing deadline relief patterned on past IRS announcements in the wake of Hurricane Sandy…
The American Retirement Association and the Investment Company Institute wrote to the Department of Labor to follow up on a meeting the organizations had with the Department on June 7, 2018 to discuss the benefits of electronic delivery of required retirement plan disclosures and notices. (more…)
The American Retirement Association wrote the Department of Labor to request clarification to Field Assistance Bulletin 2018-02 – that announced a temporary enforcement policy on prohibited transaction rules applicable to investment advice fiduciaries – regarding participant rollover recommendations. (more…)
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 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…
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…
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…
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…)
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…)
The American Retirement Association wrote to the American Institute of Certified Public Accountants (AICPA) with recommendations to improve the Proposed Statement on Auditing Standards that would modify the auditing standards related to employee benefit plan subject to ERISA. The American Retirement Association recommended to eliminate the new public disclosure requirement,…
The American Retirement Association wrote to the Department of Labor to ask for an extension of the transition period and delay of the applicability date of the Fiduciary Regulation recommending a “tiered” approach to determine the applicability date for the delayed provisions of the Best Interest Contract Exemption, the Principal…
The American Retirement Association wrote to the Internal Revenue Service to request for relief for taxpayers and service providers adversely affected by Hurricane Harvey. Specifically, American Retirement Association asked for hardship distribution relief and Form 5500 filing deadline relief patterned on past IRS announcements in the wake of Hurricane Sandy…
On July 24, 2017, the ASPPA College of Pension Actuaries (ACOPA) wrote to the Internal Revenue Service and Department of Treasury to recommend an alternative for projecting variable interest credit rates in cash balance plans for testing purposes. (more…)
The American Retirement Association wrote to the Department of Labor to respond to the Department’s Request for Information regarding the Fiduciary Rule and Prohibited Transaction Exemptions. In the letter, the American Retirement Association recommends a delay of the January 1, 2018 applicability date for certain provisions of the Best Interest…
The American Retirement Association wrote to the Department of Labor to request interpretative guidance with respect to the obligation of a covered service provider to disclose a change in the information required to be provided under ERISA Section 408(b)(2) resulting from the June 9, 2017 applicability date for the Fiduciary…
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 2017-2018 Priority Guidance Plan in response to IRS Notice 2017-28. (more…)
The American Retirement Association wrote to the Internal Revenue Service to provide recommendations on mid-year safe harbor amendments in response to IRS Notice 2016-16. The American Retirement Association recommended that the guidance contained in IRS Notice 2016-16 be expanded further in six specific areas. (more…)
The American Retirement Association wrote to the Department of Labor to respond to a request for comment with respect to the Conflict of Interest Regulation and related exemptions. In the letter, the American Retirement Association recommended: 1) that the definition of Level Fee in the Best Interest Contract Exemption be…
The Plan Sponsor Council of America wrote to both the Departments of Labor and Treasury to ask for additional guidance to address the various compliance issues that arise under ERISA and the tax code when there is a missing or nonresponsive participant and to propose a ten-step sample safe harbor…
The American Retirement Association wrote to the Department of Labor to provide comments with respect to the proposed extension of the applicability date for the Conflict of Interest Regulation and related exemptions. The American Retirement Association recommended that the applicability date be delayed until January 1, 2018 and that transitional…
On February 23, 2017, the ASPPA College of Pension Actuaries (ACOPA) wrote to the Internal Revenue Service on a proposed update to IRC Section 417(e) regulations. Primary concerns were the potential impact on most valuable benefit rules, and SSLI calculations. (more…)
The American Retirement Association wrote to the Internal Revenue Service to provide recommendations relating to the substantiation and documentation of hardship distributions and participant loans and to highlight the need for formal guidance from the Service on these issues. (more…)
The American Retirement Association wrote to the Department of Labor with its overarching concern about the proposal to modernize and improve the Form 5500 series contending that the agencies developing the proposal did not adequately take into consideration the overall time and cost burden for compliance, the impact on small…
The American Retirement Association wrote to the Pension Benefit Guaranty Corporation (PBGC) with 11 recommendations to improve upon the proposed changes to the PBGC program to hold retirement benefits for missing participants and beneficiaries. (more…)
The American Retirement Association wrote to the Internal Revenue Service to request for relief for taxpayers and service providers adversely affected by Hurricane Matthew. Specifically, American Retirement Association asked for hardship distribution relief and Form 5500 filing deadline relief patterned on past IRS announcements in the wake of Hurricane Sandy…
The American Retirement Association wrote to the Department of Labor in response to the request for comments on the proposed guidance for payroll deduction IRA programs offered by political subdivisions within a state. The American Retirement Association recommended that the non-ERISA safe harbor created for state-based payroll deduction savings programs…
The American Retirement Association wrote to the Department of Labor to request an extension of the public comment period and a public hearing on the proposal to modernize and improve the Form 5500 Annual Return. Specifically, the American Retirement Association asked for the public comment period be extended to January…
The American Retirement Association wrote the Office of Management and Budget to express concerns the Internal Revenue Service’s July 7, 2016 submission to the Office of Information and Regulatory Affairs regarding the 2016 Form 5500 series, including the Form 5500-SUP. The American Retirement Association noted that it submitted written comments…
The American Retirement Association wrote to the Department of Labor, as a follow up to the Association’s meetings with the Department regarding the Fiduciary Rule, to provide proposed questions and suggested answers related to issues the Association believes could benefit by further clarification under the Conflict of Interest Regulation and…
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 2016-2017 Priority Guidance Plan in response to IRS Notice 2016-26. (more…)
The American Retirement Association wrote to the Internal Revenue Service to respond to the request for comments on the proposed compliance questions for the Form 5500 series. The letter recommended that the effective date for the mandatory collection of information solicited by the new compliance questions be delayed to coincide…
The American Retirement Association wrote to the Internal Revenue Service with nine specific recommendations on the additional guidance needed for mid-year changes to safe harbor 401(k) and 403(b) plans in response to IRS Notice 2016-16. (more…)
The American Retirement Association wrote to the Internal Revenue Service with two recommendations to improve the proposed rule regarding nondiscrimination relief for closed defined benefit pension plans. The American Retirement Association recommended that the relief under Code Section 401(a)(26) be provided for closed plans, similar to relief offered for Code…
The American Retirement Association wrote to the Securities and Exchange Commission to provide comments on the proposed concept release on Transfer Agent Regulations as they related to ERISA covered employer-sponsored retirement plans. (more…)
The American Retirement Association wrote to the Internal Revenue Service to propose enhancements to the current pre-approved 401(a) and 403(b) plan programs. The letter complements the American Retirement Association’s recommendations submitted to the Service on October 1, 2015 in response to IRS Announcement 2015-19. (more…)
The American Retirement Association wrote to the Internal Revenue Service to request a meeting to collaborate on the revised compliance question and instructions that were initially added to the 2015 Forms 5500-EZ, 5500-SF and Form 5500 schedules H, I, and R. The American Retirement Association had previously expressed its concerns…
The American Retirement Association wrote to the Department of Labor in response to the request for comments on the proposed guidance for payroll deduction IRA programs offered by states and to request a public hearing be held on the proposal. In the letter, the American Retirement Association recommended that the…
The American Society of Pension Professionals & Actuaries, part of the American Retirement Association, wrote to the Internal Revenue Service with recommendations with respect to the treatment of overpayments under the Employee Plan Compliance Resolution System (EPCRS) in response to the Service’s request in Revenue Procedure 2015-27. (more…)
The American Retirement Association wrote to the Internal Revenue Service with many recommendations in response to changes to the Service’s Employee Plans Determination Letter Program. (more…)
The American Retirement Association wrote to the Department of Labor as follow-up to the Association’s original comment letter submitted on July 20, 2015 to provide supplemental information to the Department to clarify and amplify the Association’s “Level-to-Level Exemption” proposal as part of the Department’s Fiduciary Rule. (more…)
The American Society of Pension Professionals & Actuaries, part of the American Retirement Association, wrote to both the Internal Revenue Service and Treasury Department to request that the Internal Revenue Service permit filers to complete the 2015 Form 5500-SUP (and/or the equivalent items appearing on the 2015 Form 5500 series,…
The American Retirement Association wrote to the Department of Labor with key recommendations to improve the Department’s Fiduciary or Conflict of Interest Rule (more…)
The ASPPA College of Pension Actuaries, part of the American Retirement Association, wrote to the Department of Labor in response to a change in the instructions for providing notice to employees that the employer will take advantage of small plan audit relief in the Annual Funding Notice (AFN). The Association…
The American Society of Pension Professionals & Actuaries, part of the American Retirement Association, wrote to the Office of Management and Budget to express concern about certain representations the Internal Revenue Service made to the Office regarding the 2015 Form 5500 series reports, including the new Form 5500-SUP. ASPPA submitted…
The American Society of Pension Professionals & Actuaries, part of 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 2015-2016 Priority Guidance Plan in response to IRS Notice 2015-27. (more…)
A group of Associations, including the American Retirement Association, wrote to the Department of Labor to request a 45-day extension of the comment period for the Department’s Fiduciary or Conflict of Interest Rule. (more…)
The National Tax-deferred Savings Association, part of the American Retirement Association, wrote to the Department of Labor to share concerns and comments on the proper treatment of distributed contracts and custodial accounts in the context of a 403(b) plan termination. Clarifying guidance is badly needed to resolve the issue with…
The American Society of Pension Professionals & Actuaries, part of the American Retirement Association, wrote to the Internal Revenue Service in response to the Service’s request for specific recommendations regarding operational failures related to participant loans that should be eligible for correction under the Self-Correction Program (SCP) component of the…
The American Society of Pension Professionals & Actuaries, part of the American Retirement Association, wrote to the Internal Revenue Service to request that the Service extend the submission deadline for pre-approved defined benefit plans and to consider various other changes to the defined benefit pre-approved plan program. (more…)
The American Society of Pension Professionals & Actuaries, part of the American Retirement Association, wrote to the Internal Revenue Service to comment regarding the notice of proposed expanded data collection and revisions to the Form 5500 series, which includes the introduction of the Form 5500-SUP. (more…)