PRC In the News
IRS Issues Revenue Procedure Requiring Notices of Requests for Church Plan Status
The Internal Revenue Service issued a revenue procedure and model notice Sept. 21 requiring church plans to notify participants and other interested parties if a plan applies to IRS for a letter ruling on church plan status. [Reproduced with permission from BNA Pension & Benefits Reporter, 38 BPR 1743 (Sept. 27, 2011). Copyright 2011 by […]
Retirement: Reality Not As Rosy As Expectations
Americans pride themselves on being optimistic. But Robert Blendon, of the Harvard School of Public Health, says that may not be such a good thing when it comes to planning for retirement. For many Americans, it is proving harder than they imagined, according to a a new poll by NPR, the Robert Wood Johnson Foundation […]
You Can’t Delay Retirement If You Don’t Have a Job
It’s become fashionable to say that longer life spans mean average Americans work well into into their 60s and possibly their 70s—what was once considered the early retirement years. The problem is, few prospects await most people who need or want to stay in the workforce.
As Brokers Cheer, Advisers Sound Off on DOL 401k Fiduciary Capitulation
Chances are, very few 401k plan sponsors and precious few 401k plan participants even noticed the recent goings-on at the DOL and how they just lost valuable protection so big brokers could line their pin-striped pockets with a big chunk of somebody else’s retirement assets.
Forced Out of 401(k)? Not So Fast
Employers can automatically close the accounts of former employees only if the balance is low.
Delay on Pension Oversight
The Labor Department plans to push off until 2012 the adoption of a set of rules that would expand its oversight of pension plans, 401(k) plans and individual retirement accounts.
Proposed Retirement Plan Overhaul Faces Skepticism at Tax Reform Hearing
Employee benefits experts testifying before the Senate Finance Committee on Sept. 15 about tax reform options for retirement security largely called for retaining the current structure of retirement savings plans with some improvements, but one witness recommended an overhaul that would replace deductions with refundable tax credits.[Reproduced with permission from BNA Pension & Benefits Reporter, […]
Boomer Retirement Doesn’t Seem Rosy
Baby Boomers will have a tough financial row to hoe in managing their retirement and will need to adopt their own special game plan in order to live comfortably in their golden years, says Alice Munnel, keynote speaker at the Financial Planning Association’s 2011 Conference in San Diego on Friday.
Retirement experts clash over tax breaks for 401(k) plans
Some want to boost the deferral limit – others want to do away with it
401(k) savings proposal gets cold shoulder from panel
A proposal to replace the current tax deductions for 401(k) plans and IRAs with a flat tax credit got a chilly reception before the Senate Finance Committee on Thursday as panel members and pension experts defended the plans and the incentives for employers to provide them.
Senate Panel Hears Sharp Disagreement on Improving Retirement Savings
Proposals ranged from substantial changes in the current system to adjustments that would not alter it drastically
