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News Archive
Executive Report - March 2020
The Coronavirus, Aid, Relief and Economic Security (CARES) Act PSCA has compiled a list of resources for plan sponsors regarding the impact of the Coronavirus on retirement plans, including a list of FAQs. Read more> Legislation Trump Signs Coronavirus Stimulus Legislation with Retirement Relief into Law President Trump on March 27 signed into... Read More >>
Trump Signs Coronavirus Stimulus Legislation with Retirement Relief into Law
President Trump on March 27 signed into law the sweeping $2 trillion stimulus bill that includes retirement relief provisions supported by the American Retirement Association. It wasn’t easy – or at least not as easy as it might have been – but the signing of the Coronavirus, Aid, Relief and Economic Security (CARES) Act (H.R. 748 as amended... Read More >>
Senate Approves Coronavirus Stimulus with Retirement Relief
It’s not over yet, but after six days of intense negotiations, about midnight on March 25, the Senate unanimously approved a sweeping $2 trillion stimulus bill, including retirement relief provisions supported by the American Retirement Association. The Coronavirus, Aid, Relief and Economic Security (CARES) Act (H.R. 748 as amended; note... Read More >>
IRS Clarifies More Time to Contribute to IRAs, HSAs, Qualified Plans in 2020
The recently announced extension of income tax filing deadlines will also give you more time to contribute to an IRA or health savings account, and for employers to make contributions to their retirement plans—but not to take excess deferrals out of the plan. The Treasury Department and the Internal Revenue Service (IRS) had, in Notice 2020-18,... Read More >>
ICYMI - Monday, Mar 23, 2020
Coronavirus Relief Update With concerns about the impact of the coronavirus and its impact on retirement plans increasing, the American Retirement Association has been actively advocating for relief for plan sponsors and participants impacted by the pandemic. Read more> National Conference Update In response to concerns about travel and... Read More >>
Coronavirus Relief Update
With concerns about the impact of the coronavirus and its impact on retirement plans increasing, the American Retirement Association has been active advocating for relief for plan sponsors and participants impacted by the pandemic. Senate Bill Expands Retirement Plan Access for Coronavirus Impact(s) The CARES Act includes provisions advocated by... Read More >>
ICYMI - Monday, Mar 16, 2020
Recent News you May Have Missed Potent ‘Mien’: Prudent Process Proves Potent in Fiduciary Breach Suit Once again, a prudent process has won the day in court for retirement plan fiduciaries. Insulate Action: How can I protect my 401(k) from a coronavirus-driven market downturn? How can investors protect their 401(k) and other retirement savings... Read More >>
ICYMI - Monday, Mar 8, 2020
Recent News you May Have Missed Accident ‘Tell’: Fact Check: Were 401(k)s Really An ‘Accident Of History’? Those who promote the concept that “401(k)s were an accident” are still hanging onto the idea that employers should be guaranteeing their employees’ retirement benefits, and that something went wrong with history that we ended up in a... Read More >>
ICYMI - Monday, Mar 2, 2020
Recent News you May Have Missed Standard ‘Deviation?’: Supremes Rein In ‘Actual Knowledge’ Standard In a unanimous ruling, the nation’s highest court says you don’t need more than a dictionary to know the meaning of “actual knowledge” when it comes to participant awareness regarding 401(k) disclosures. Cross Purposes: Another Excessive Fee... Read More >>
Executive Report - Feb. 2020
Regulations IRS Whistleblower Informs ARA of Change that Could Doom Voluntary Corrections Driven by an apparent desire to clean up its case backlog, the IRS is planning a shift in procedure that might mean the end of the VCP program and subject a massive number of plans to audit. Word of the dramatic shift in focus was brought to the attention of... Read More >>