Qualified Plans

How To Replicate A Stretch IRA, Why Retirees Are Wary of Annuities, Five Biases That Drive Clients, And More

Topics: Advisor standard of conduct, Annuities, Business uses of Life Insurance, Defined contribution plans, ERISA, IRAs, Key man, Life insurance products, Qualified Plans, Regulation, Retirement security, SEC

SEC Issues Final Standard of Conduct Rule For Brokers And Advisors Yesterday the SEC released a final standard of conduct rule that establishes a best interest standard of care for broker dealers, clarifies the fiduciary duty for advisors, and creates a standardized disclosure form both brokers and advisors. AALU is currently analyzing the details of…

The IRS Expands EPCRS Self-Correction Program to Cover Plan Loan Failures and Certain Other Operational and Plan Document Failures

Topics: Qualified Plans

The WRMarketplace is created exclusively for AALU members by experts at Baker Hostetler LLP and the AALU staff, led by Jonathan M. Forster, Partner, Rebecca S. Manicone, Partner, and Carmela T. Montesano, Partner. WR Marketplace #19-09 was written by Edward J. Beckwith, Partner, and Jennifer M. Smith, Counsel, Baker Hostetler LLP. The AALU WR Newswire...

Comparing Retirement Income Strategies, SCOTUS Case on State Taxation of Trusts, Section 1035 E

Topics: 401(k), Estate planning, IRS, Qualified Plans, Regulation, Retirement security, Trusts

April 25, 2019 Wealth Transfer U.S. Supreme Court Hears Case on States’ Ability to Tax Trust Income A case with significant implications for States’ ability to tax trust income was before the U.S. Supreme Court on April 16, when oral arguments were heard in the case of North Carolina Department of Revenue v. Kimberly Rice...

Four Recent Lawsuits Claim Large Corporate Pension Plans Violated ERISA Through Use of Unreasonable Actuarial Assumptions

Topics: ERISA, Qualified Plans

This WR Marketplace is created exclusively for AALU members by experts at K&L Gates and the AALU staff, led by James E. Earle, Matthew R. Jones, Richard H. Nettles, and Rebecca Liu. The AALU WR Newswire and WR Marketplace are published by AALU as part of the Essential Wisdom Series, the trusted source of actionable...

Recreating a DB Plan, Charitable Contribution Rules, FICA Taxes + NQDC Plans, and More

Topics: 199A, Charitable giving, Defined benefit plans, IRS, NQDC, Qualified Plans, Retirement security

February 14, 2019 Assets Under Management How to Recreate A Defined Benefit Plan in a Retirement Income Portfolio Defined benefit plans are a thing of the past, but Steve Parrish explains how an individual can build a defined benefit element into his or her retirement income portfolio, and establish a floor income during retirement that…

Introducing Pulse, by AALU

Topics: 162(m), Estate planning, IRS, Qualified Plans, Regulation

Welcome Members! We are excited to introduce Pulse, AALU’s new e-newsletter. Curated by AALU, with input from the best and brightest in our membership, Pulse aims to save you time while keeping you on top of the most significant developments. We welcome and appreciate your feedback on this, as we look to continue to evolve…

IRS Issues Proposed Regulations on Relaxed Rules for 401(k) Hardship Distributions

Topics: 401(k), Qualified Plans

The 2018 Budget Act changes to the hardship distributions rules will make it easier for participants to take these distributions. The changes, as described in the Proposed Regulations, include (1) expanding the contributions and earnings that are eligible to be received in a hardship distribution (including post-1988 earnings on 401(k) deferrals), (2) expanding the permitted…

New DOL Rules on Disability Claims May Impact Retirement and Deferred Compensation Plans.

Topics: DOL, Qualified Plans, Regulation

New DOL rules became effective on April 1, 2018 regarding claims procedures for disability benefits offered in employee benefit plans. The rules apply not only to long-term and short-term disability plans, but may also apply to 401(k) and other qualified retirement plans, as well as non-qualified deferred compensation plans and SERPs. The new rules provide…

WRN#18.01.17: Divorce Decree Suffices as QDRO Under ERISA to Require Insurance Benefit Payment to Non-Designated Beneficiary

Topics: ERISA, Estate planning, Qualified Plans

A U.S. Court of Appeals held that a separation agreement incorporated into a divorce decree, which required that the parties’ name their daughter as the sole beneficiary of any employer-sponsored life insurance, clearly specified the required information to qualify as a qualified domestic relations order (QDRO) for purposes of ERISA.