Independent Actuaries Blog Author: Jeffry Lamb
Settlor Expenses
Did you know some plan related expenses can be paid out of plan assets? These are called non-settlor expenses. Non-settler expenses usually benefit participants or relate to the ongoing qualification of the plan. Settlor expenses are not eligible to be … Continue reading
What is a Mistake of Fact Contribution?
Contributions to a qualified retirement plan are generally irrevocable. However, in specific instances, contributions may be returned to the Employer if there is a mistake of fact contribution. While the IRS has not explicitly defined a mistake of fact contribution, … Continue reading
Does your business need to register for Oregon Saves?
If you are an Oregon employer and you do not offer your employees a retirement plan, you are required by law to sign up for OregonSaves. If your company offers a retirement plan and you are exempt, you will still … Continue reading
IRS 90-Day Pre-Examination Pilot Compliance Program
On June 3rd, the IRS announced a pilot compliance program. Under the program the IRS will notify plan sponsors that their retirement plan may be selected for an upcoming examination. The letter gives plan sponsors a 90-day window to review … Continue reading
Investing Plan Assets in Cryptocurrencies
At IAI (Independent Actuaries Inc.) we do not give investment advice, nor are we qualified to do so. However, when setting up a new plan, a common question is “What can I invest my plan assets in?” The simplest response … Continue reading
FaceApp and Retirement Planning
I rarely use social media, but my wife recently showed me a picture from FaceApp of what we would like in 30 years. I imagine most people either have the App or have had a similar experience. It always makes … Continue reading
Sports Betting and Actuaries
On May 14th the Supreme Court voted 6-3 to strike down the Professional and Amateur Sports Protection Act, which barred state-authorized sports betting (with the notable exception of Nevada). As a professional Actuary, and an enormous sports fan, I found … Continue reading
It’s Bracket Time! How Did You Fill Yours Out?
Have you filled out your NCAA bracket yet? If so, how did you choose your winners? Did you go through each bracket game by game? Did you have a few brackets, each with a different winner? Did you make your … Continue reading
Access Social Security Statements Online
Did you know you can view your Social Security Statement online? In the past, the Social Security Administration (SSA) sent annual paper statements to update participants on their earnings record and estimated benefits. However, in an effort to reduce costs, … Continue reading
What OJ Simpson Can Teach You About Retirement Security
Last week ESPN posted an article that “OJ Simpson may have made more than $600K while incarcerated.” Initially, I was amazed to think he was still receiving endorsement money. But when I clicked on the article, I discovered the money … Continue reading
