On June 16, 2010, the SEC requested comment on the proposed required disclosure of a target date fund’s target date (or current) asset allocation and Chao & Company provided its public comment.
Everything Else
403(b) Plans Must Comply with ERISA Section 408(b)(2)
Certain covered service providers are required to furnish specified information to plan administrators so that they may comply with their disclosure obligations. The DOL issued a Field Assistance Bulletin affirming the application of this regulation to IRS section 403(b) plans that are ERISA-covered plans.
Bull or Bull’s Eye – A Brief Review of Quantitative Tools for Analyzing TDFs
Target Date Funds (“TDFs”) are fast becoming the dominant investment choice for account-based DC plans in the US. The purpose of this paper is to review the quantitative analytical tools and factors that should be considered as parts of a prudent process for plan sponsors and their advisors in selecting and monitoring TDFs.
2013 Health Savings Account Plan Limits
On April 27, 2012, the IRS announced the 2013 inflation-adjusted amounts for Health Savings Accounts (HSAs) as determined under the Internal Revenue Code § 223.
Philip Chao in RIABiz ” Why it’s not OK that NAPFA and FPA agree with FSI about relaxed accountability for holders of IRAs”
Philip Chao, guest columnist for RIABiz, raised concerns that NAPFA and FPA are not holding a higher standard for IRA account owners.
PPACA Sets First Time Health FSA Limit: $2,500 per year for Employee Contribution
Effective for plan year beginning on or after January 1, 2013, an employee must limit salary reduction to no more than $2,500 in contributions to medical care flexible spending arrangements.
2012 Annual Qualified Retirement Plan Limitations
On October 20, 2011, the Internal Revenue Service published (IR-2011-1031) cost of living adjustments affecting dollar limitations for pension plans and other retirement related items for Tax Year 2012.
2012 Health Savings Account Plan Limits
On October 20, 2011, the Internal Revenue Service announced the 2012 inflation-adjusted amounts for Health Savings Accounts (HSAs) as determined under the Internal Revenue Code § 223.
Selecting & Monitoring Pension Consultants
Findings included in a report by the staff of the U.S. Securities and Exchange Commission released in May 2005, raise serious questions concerning whether some pension consultants are fully disclosing potential conflicts of interest that may affect the objectivity of the advice they are providing to their pension plan clients.
ERISA Investment Consulting
Chao & Company’s Investment Consulting provides complete expert fiduciary advice with the goal to reduce fiduciary responsibilities and liabilities for plan sponsors. Through the development of a reasoned and practical Investment Policy Statement, we aim to guide the process in a way that will deliver cost effective solutions, identify and select investment vehicles that align with the stated goals, and prudently monitor investments.