Industry News...

The Retirement Plan Blog ( If you're an employer who has adopted a pre-approved defined benefit pension plan, it's time to amend and restate your plan. All defined benefit plans using pre-approved plan documents must restate their plan before April 30, 2020. It's important that you understand why your plan document must be restated. What follows is a non-technical explanation in Question and Answer format.

Associated Pension Consultants (APC) California State law requires that an employer with five or more employees who does not already offer an employer-sponsored Retirement plan must offer the CalSavers program to their employees.

IRS( Effective April 19, 2019 the IRS has expanded the Self Correction Program (SPC) and many times it can be used to correct a plan error without contacting the IRS or paying a fee.

Associated Pension Consultants (APC) The Bipartisan Act of 2018 made a number of modifications to hardship distribution rules in retirement plans, simplifying administration and making funds more readily accessible to plan participants.

IRS( A 403(b) plna is a retirement plan offered by public schools and certain charities. It is similar to a 401(k) plan maintained by a for-profit entity and requires the plan to follow a written program in the form of a plan document. Some 403(b) plans are written on an IRS pre-approved Volume Submitter Plan document that may need to be restated by the March 31, 2020 deadline.

IRS( Beginning April 1, 2019 all VCP Submissions must be filed electronically and fees paid using This new system should streamline the process.

IRS( IRS Announcement 2018-5 mandates that all Defined Benefit Plans on certain types of pre-approved documents must restate during the period May 1, 2018 through April 30, 2020.

IRS( Victims of the wildfires that took place beginning on Oct 8, 2017 in parts of California may qualify for tax relief from the Internal Revenue Service.

IRS( The IRS has recently provided guidelines on how they review plans for Computing Maximum Loan Amounts and Substantiating Safe-Harbor Distributions from 401(k) and 403(b) plans. Click the link above for details.

Annemarie Keehn, ERPA, QPA, QKA Navigating the maze of retirement plan options can be confusing. 401(k), Simple, SEP, Money Purchase, Profit Sharing – how can an employer be sure it has chosen the right plan? When an employer implements a SEP (Simplified Employee Pension), oftentimes it is not aware of the limitations of that type of plan.

Investopedia ( Please click Here for more information.

The American Institute of CPA's ( Please click Here for more information.

Employee Benefits Security Administration, US Department of Labor Starting a retirement savings plan can be easier than most business owners think. What's more, there are a number of retirement programs that provide tax advantages to both employers and employees.

IRS ( Since the proposed 2015 IRS compliance qustions on the Forms 5500 and 5500-SF and Schedules H, I, and R weren't approved by the Office of Management and Budget when the 2015 Form 5500 and Form 5500-SF were published on December 7, 2015, the IRS has decided that plan sponsors should not complete these question for the 2015 plan year.

IRS ( Retirement plan documents must be revised when the law changes. Your retirement plan will remain qualified and provide tax benefits only if you update your plan document for law changes by the required deadline.

ASPPA Net Staff ( The advent of a new year traditionally is a time to take of stock of where one has been and what lies ahead. Accordingly, Transamerica recently issued "Prescience 2019: Expert Opinions on the Future of Retirement Plans," a report containing the results of its survey of experts from a wide range of sectors and perspectives on their expectations regarding retirement plans. APC's President Marc Roberts contributed to this study.

IRS ( During 2015, the IRS began classifying Voluntary Correction Program (VCP) fees as user fees subject to IRC 7528. As a result, in 2016, plan sponsors will refer to a new, annual revenue procedure to determine the appropriate fee when making a VCP submission to the IRS. In addition, the IRS made changes to the general fees for submissions for IRC 401(a) and 402(b) retirement plans.

DrinkerBiddle ( The U.S. Supreme Court's recent unanimous decision in Tibble v. Edison International sounds a reminder that fiduciary reponsibility includes the duty to monitor. Tibble involved a challenge by 401(k) plan pariticipants to the retention of higher priced retail class mutual funds when allegedly materially identical lower priced institutional class mutual funds where available.

McGladrey ( Rev. Proc. 2015-32 provides a procedure for plan administrators and plan sponsors of retirement plans not subject to Title I of the Employee Retirement Income Security Act of 1974 (ERISA) to receive penalty relief for late filed returns without having to demonstrate resaonable cause for the late filing.

IRS ( You received this notice because you filed Form 5500-EZ for a retirement plan last year (or you filed Form 5500-SF in place of a Form 5500-EZ for a one-participant plan). This notice is a reminder of your filing requirements.

IRS ( A new pilot program gives sponsors and administrators of retirement plans not covered by Title I of ERISA automatic relief from IRS late filing penalties on past due 5500 forms.

IRS ( We examined approximately 50 Form 5500 returns of defined contribution plans with: 1. assets valued between $100,000, and $250,000; 2. a plan effective date of January 1, 1997 (or earlier); and 3. disclosed plan distributions.

By Chris CarosaA few weeks ago published an exclusive interview with Assistant Secretary Phyllis Borzi. In that article, Borzi expressed concern about the potential for fraud and abuse in Multiple Employer Plans (MEPS). This set off a major debate among those in the know.

By Todd Berghuis Most of us have heard the expression "Don't shoot the messenger." In other words the bearer of unwelcome news may not be the cause of it and shouldn't be blamed or punished for delivering it. Sadly, our retirement industry, and in particular those associated with 401(k) plans, have at times been the victim of "messenger blame," particularly with respect to American workers' retirement readiness.


US Department of Labor (

The more you know before you start making decisions, the better off you will be in retirement.  This retirement toolkit is brought to you by the three federal agencies involved in key elements of your retirement planning and security: The Department of Labor, the Social Security Administration and The Centers for Medicare & Medicaid Services.


By Ary Rosenbaum
JDSupra Law News (

As a plan sponsor, you have a fiduciary responsibility to find a bargain when it comes to picking a plan provider, but you may increase your potential liability by picking providers just because they are cheap.  This article is about why you shouldn't pick a plan provider just on low price.


By Pete Kirkland
President of Aspire Financial Services

Going forward, advisers working on company 401(k) plans are going to be graded on how well they prepare their plan participants to meet their retirement needs.


By Jeff Mamorksky

The Labor Department issues important guidance on what constitutes a valid multiple-employer 401(k) plan.


IRS Website (

The Retirement News for Employers is a periodic newsletter with retirement plan information for employers and business owners - and their tax advisors from Employee Plans (Tax Exempt and Government Entities (TE/GE) at the IRS).


By Tom Lauricella
Wall Street Journal Online.

Your financial adviser doesn't want you to read this column.  Many retirement investors, egged on by brokers and mutual-fund companies, put a great deal of emphasis on crafting finely tuned portfolios out of stocks, bonds and -increasingly, these days- other exotic investments.


CCH Aspen Publishers Technical Answer Group (TAG).

The percentage of America's younger workers who say an employer-sponsored retirement program is important for either joining or staying with an employer has increased dramatically in the past two years, according to the Towers Watson Retirement Attitudes Survey.


By Stephen Ohlemacher.

The Internal Revenue Service is offering a break to employers who come clean about wrongly classifying workers as independent contractors to avoid paying federal payroll taxes, the agency recently announced.




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