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The IRS and the Department of Treasury are requesting comments on possible standards for determining if a retirement plan is a governmental plan under section 414(d) of the Internal Revenue Code.
The Internal Revenue Service is boosting the maximum contribution that workers can make to their 401(k) pension plans without paying upfront taxes. The limit will rise to $17,000 next year.
Fidelity announced Thursday that it has launched a new Retirement Distribution Center on its website to help clients manage withdrawals from their IRAs.
Two proposals to revamp the defined contribution plan system will only hurt Americans ability to save for retirement, according to industry experts. They also have the potential to dissuade plan sponsors, especially small businesses, from offering qualified defined contribution plans, which would reduce the number of people able to contribute...
As health care costs continue to grow, employers and employees alike are searching for ways to reduce the financial burdens they face, and many are turning to consumer-driven health plans that include flexible spending accounts.
When the Department of Labors Employee Benefits Security Administration re-proposes its fiduciary rules, it must take into account their effect on broker/dealers, plan sponsors, record keepers and plan auditors, says Jeleen Guttenberg, a partner in the law firm Bracewell & Giulianis Employee Benefits, ERISA, and Executive Compensation group.
Church plans will have to notify plan participants before asking the Internal Revenue Service (IRS) to provide private letter rulings confirming the plans status.