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News Archive

2016 Pension Plan Limits Announced

Click here for the 2016 Pention Plan Limits.  Read More >>

Richard McHugh Joins PSCA as Vice President of Washington Affairs

PSCA is excited to welcome Rich McHugh on board as its Vice President of Washington Affairs, effective as of September 1, 2015.  Rich has been heavily involved with PSCA for more than 30 years and has worked closely with Ed Ferrigno, his predecessor, and Sam Murray, Ed’s predecessor.  Rich will continue PSCA’s long tradition of being the voice of... Read More >>

PSCA Chairman Testifies at DOL Fiduciary Rule Hearing

Steve McCaffrey, chair of PSCA's Board of Directors, testified on behalf of PSCA members at the DOL hearing on the re-proposed fiduciary rule. Click here to view the full written testimony. Click here to watch a recording; Steve's testimony was part of panel 6.  Read More >>

Survey: Higher Contributions, Better Balances Among 403(b) Plans

Non-profit organizations that sponsor 403(b) retirement plans saw steady increases in participant contributions, leading to higher average account balances, according to the 2015 403(b) Plan Survey from the Plan Sponsor Council of America (PSCA).   The seventh annual benchmarking survey of 403(b) plans, sponsored by the Principal Financial Group... Read More >>

PSCA Submits Letter in Suport of the RETIRE Act

PSCA submitted a letter in support of the RETIRE Act on June 30, 2015.  Read More >>

Exclusive Interview: PSCA Chair Stephen W. McCaffrey Sees Challenges in Legislative Attempts "to 'Fix' an Un-Broken System"

From Fiduciary News Article on April 21, 2015: Do you know what much discussed product, recently endorsed by the US government and meant to help alleviate the "retirement crisis" was original brought up in the 1950s? And do you know how the PSCA responded six decades ago?  In the wide ranging interview, McCaffrey offers glimpse at an often under... Read More >>

IRS Releases Changes to the Employee Plans Compliance Resolution System

Last week, the IRS released Revenue Procedure 2015-27. The guidance modifies the Employee Plans Compliance Resolution System (EPCRS) under Revenue Procedure 2013-12.  Among the changes are the following:  Clarifies correction rules for overpayments made to participants.  The IRS indicates that some employers have interpreted EPCRS to require... Read More >>

Impact of 2016 Budget Proposal on Retirement Plans

President Obama released his fiscal year 2016 federal budget and as expected, the it includes many retirement-related proposals.  Below is a summary of the budget proposals that may impact your plan, if they are passed as presented in the budget. Click here to view the full “Green Book,” which provides a more detailed explanation for all of the... Read More >>