Independent Actuaries Blog Author: Jason Douthit

OregonSaves Moves Forward Despite Uncertainty

Amid uncertainty at the federal level, on April 18, 2017, the Oregon Retirement Savings Board issued the Permanent Rules of the Oregon Retirement Savings Program, commonly called OregonSaves. In doing so, the State of Oregon took another step towards implementing … Continue reading

IRS Issues Guidance on Hardship Distributions

The IRS recently issued an internal memorandum to provide guidance to its Employee Plans examiners who encounter a defined contribution plan that allows hardship distributions. A plan sponsor can take the participant’s word that there is no other source of … Continue reading

Discontinuing Employer Contributions and Vesting Requirements

Did you know that when employer contributions (e.g., profit sharing, safe harbor and matching contributions) to a defined contribution plan are completely discontinued, the plan’s accounts typically must be fully vested? As with all things IRS, it is important to … Continue reading

Bundled Service Providers, Investment Fees and 401k Account Balances

A small business owner using a bundled service provider for his/her 401(k) plan is akin to a farmer letting the fox guard the henhouse. Pete Kirtland writes that bundled service providers “don’t always pick…funds for the right reasons. They might … Continue reading

DOL’s Field Assistance Bulletin 2012-2 – The Growing Application of Fee Disclosure Regulations to Brokerage Account Windows

On Monday, the Department of Labor (DOL) issued Field Assistance Bulletin (FAB) 2012-02, a 23-page Q&A intended to interpret and explain the fee disclosure regulations which will require numerous disclosures to plan participants (who are able to direct their own … Continue reading

Hidden 401(k) Fees: No Such Thing as a Free Lunch

I was assisting a small employer with the completion of a Form 5500 for a 401(k) plan the other day. The plan’s trust account holds roughly a million dollars. The plan’s trust account statements (produced by the mutual fund company where the … Continue reading