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January 9th, 2018 |
IRS Modifies VCP User FeesEffective January 2, 2018, the Internal Revenue Service (IRS) simplified the user fees charged for most submissions made under the Voluntary Correction Program (VCP). The total amount of net plan assets determines the applicable user fee now, not the number of participants. Most alternative or reduced fees that were part of previous revenue procedures no longer apply. The agency also issued information about how to obtain or re-establish an employer identification number (EIN) for a retirement plan trust.Read more > |
Mercer Offers Focus Tips for E&F Investment CommitteesAmong tips Mercer suggests is evaluating litigation vulnerability at a time when lawsuits against higher education 403(b) plan sponsors are higher than ever.Read more > |
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Few NQDC Plan Sponsors to Make Plan ChangesAmong the few that are, the majority cited additions or enhancements to plan education and communication programs, investment crediting options and distribution options.Read more > | Hospital to Pay $400K to Settle EEOC Age Discrimination SuitMontrose Memorial Hospital of Montrose, Colorado, has agreed to pay $400,000 to settle an Equal Employment Opportunity Commission (EEOC) age discrimination lawsuit. EEOC charged the hospital with violating federal law by firing or forcing 29 employees ages 40 and older to resign. The agency said the hospital accused those who were fired of having been deficient in their performance but did not apply the same standards to younger employees.Read more > | PlanMember Renews Affiliation With Security Benefit LifePlanMember has added Security Benefit’s Foundations Annuity and RateTrack Annuity to its platform. Foundations, a flexible-premium, fixed-index deferred annuity with a lifetime income rider, is available for the nonqualified, 403(b), IRA, Roth IRA and SEP IRA marketplace. RateTrack, a single deferred fixed floating interest rate annuity program, is available for the IRA, Roth IRA, 403(b) rollover and nonqualified marketplace.Read more > |
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