The Impact Trump’s Election Will Have on Retirement Plans

Annuities- coins

The surprise election of Donald Trump is beginning to settle in and we now have time to think about how his positions during the campaign will impact the retirement industry going forward. There are three main areas we think will be affected: Regulations: Trump campaigned that government regulations were strangling business growth. In the retirement… [Read More]

DOL’s Fiduciary Proposal Can Mean Big Changes, but for Whom?


When the Department of Labor (DOL) recently announced proposed regulations updating the ERISA definition of a fiduciary, many industry heavyweights publicly proclaimed that this was going to hurt the small investors by causing brokers to exit that end of the market. Meanwhile, some advisors have used the news to call my clients, warning them how… [Read More]

ACA Impacts Flexible Spending Accounts

Prescription Drug Cost

For plan years on or after 1/1/2015, plan sponsors need to be mindful of new rules which impact health FSAs (HFSA).  In order for an HFSA to meet the definition of excepted benefits (and therefore not be subject to ACA’s market reforms requiring unlimited benefits) these plans need to meet two conditions: 1) only individuals… [Read More]

Benefits Reporting: Time to Gear Up for SAR Distribution


The big rush to get the annual 5500 benefit plan reporting filed by July 31 is over—but there isn’t much time to catch a breath. Have you prepared and distributed your corresponding Summary Annual Reports (SAR)? A Summary Annual Report is exactly that: a summary of the 5500 Report that was filed. It provides some… [Read More]

Beware: Shortcuts in Calculating ACA Fees May Prove Costly


Most employers understand that over the next few years, they will be required to pay a host of new fees as a result of ACA. What many do not realize is that because of the dozens of methodologies and permutations the regulations allow, the actual payment levels can vary widely, based on the amount of… [Read More]

New Regulations Helpful to Employers: Is the Pendulum Swinging Back?


I think Washington is starting to get it. Regulations were released on May 8 that are actually helpful to employers. An FAQ provides an interesting plan-design opportunity for large group market coverage and self-insured plans. The FAQ says the plans can define essential health benefits to include only generic drugs (mandatory generic), while providing a separate… [Read More]

Breathe Easier: ACA Gives Employers Flexibility in Smoking Cessation Programs


The Affordable Care Act has ushered in better definition of wellness programs and incentive amounts including Tobacco Differential programs. Whether you have a tobacco differential in place or are looking to implement one, you’d better take a look at the new wellness regulations. If you’re like most employers, you’re probably hoping to motivate your employees… [Read More]

Plan Sponsors Get Aggressive with New Fee Disclosure Information


It’s been a year since the DOL Fee Disclosure regulations went into effect and the question is: Where do we stand? It’s a good time to measure the impact of these regulations on the retirement industry and whether they achieved their intended goal of better decision making by participants. Well, from the participant standpoint, reaction… [Read More]

Coast to Coast—State Rules Pile on More Work


Not only do employers have to worry about new federally driven rules, the states are also making HR people jump through hoops. In California, insured new group medical plans that are effective on or after January 1, 2014, and at the first renewal for groups beginning January 1, 2014, the waiting period for medical benefits may… [Read More]