Washington Update (more)

Latest News on the Pension Protection Act of 2006
ASPPA Summary of HR 4, the Pension Protection Act of 2006, as it reflects the substance of the Senate-passed bill on August 3, 2006, and the House-passed bill on July 28, 2006.  The pension bill was signed by President Bush on August 17. (Updated 08-31-06) [ASPPA Summary] [PDF] [HR 4 Bill]

ASPPA Comments on Safe Harbor Requirements
On September 26, 2006, ASPPA commented to the IRS on the final regulations to sections 401(k) and 401(m) on its safe harbor notice requirements as issued on December 29, 2004. [comments]

ASPPA Comments to Proposed Revisions to Form 5500 On September 19, 2006, ASPPA commented on the proposed revisions to the Form 5500 Annual Return/Report, recommending, among other things, that DOL expand the use of the new Form 5500-SF; provide guidance on ERISA-covered §403(b) plans; and provide certain clarifications to the proposed Schedule C requirements. [comments]

ASPPA Comments on VFC
On September 19, 2006, ASPPA sent a letter to the DOL suggesting it expand its online calculator under the VFC Program for correcting late deposits of elective deferrals. [letter]

Funding Reform Webcast Series
Registration is now open for the Funding Reform Webcast Series that begins September 6, 2006, and runs each Wednesday through October 11, and is jointly sponsored by the American Academy of Actuaries, the Conference of Consulting Actuaries, the Society of Actuaries and ASPPA. This series will cover funding reform legislation for single and multi-employer defined benefit plans, including funding for at-risk, small and multi-employer plans. To register, and for more information, click here. Each webcast is eligible for 90 minutes core EA credit, as well as AAA, ASPPA, CCA and SOA professional development credit. 

ASPPA Comments to Senate Finance on Tax Reform
On August 17, 2006, ASPPA commented for the Senate Committee on Finance hearing, “Kick-Off for Tax Reform: Tackling the Tax Code,” that certain savings recommendations made by the President’s Advisory Panel on Federal Tax Reform would be devastating to the retirement security of millions of American workers. [comments]

ASPPA Comments to Senate Committee on Finance
On June 29, 2006, ASPPA submitted testimony for the record to the Senate Committee on Finance, Subcommittee on Long-Term Growth and Debt Reduction hearing on “Small Business Pension Plans: How Can We Increase Worker Coverage?” In the testimony, ASPPA recommended several proposals designed to increase retirement coverage in small businesses.  [comments]

IRS Releases New FAQs relating to Form 8905 and Interim Amendments
On June 14, 2006, the IRS issued new FAQs on Pre-Approved and Individually Designed Plan Programs (including Form 8905). [FAQs]

> More Current Policy Statements

> Key Issues

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Things to Note (more)

CRUSAP Report Available
The CRUSAP (Critical Review of the U. S. Actuarial Profession) Task Force was established by the American Academy of Actuaries to perform an independent review of the U.S. actuarial profession. On September 25, 2006, a revised CRUSAP draft report was released with a deadline for comments by October 31, 2006. The ASPPA Board and Actuarial Issues Subcommittee are currently reviewing the report and will provide comments to CRUSAP by the deadline. The report can be accessed at http://www.crusap.net/report.asp.

Spring EA-2(B) Review Courses
Registration is now open for the spring 2007 EA-2(B) Review Courses. Classes will be held in Washington, DC and Chicago, IL. For more information and to register click here [Learn More]

C-3 & C-4 Examination Scheduling for 2007 Beginning in 2007, the Financial and Fiduciary Aspects of Qualified Plans (C-3) examination will be offered once per year in the spring cycle. The Advanced Retirement Plan Consulting (C-4) examination will be offered once per year in the fall cycle. Please adjust your plans for taking ASPPA examinations accordingly. [more info on ASPPA examinations]

On May 31, 2006, ASPPA submitted a letter to FASB supporting the American Academy of Actuaries's comments on FASB's reconsideration of pension and other postretirement benefit accounting. [ASPPA letter] [AAA pension comments] [AAA OPBA comment]

Harry T. Eidson Founders Award Nominations
Do you know of someone that should be nationally recognized for their significant contributions to the pension industry and/or ASPPA? Submit Your Harry T. Eidson Founders Award Nominations Today! [submit]

ASPPA and NIPA Comment on ERPA
On April 11, 2006, ASPPA and NIPA commented on the proposed modifications governing practice before the IRS under the Circular 230 proposed regulations. ASPPA and NIPA strongly support the establishment of the Enrolled Retirement Plan Agent (ERPA) program under Circular 230. [comments]

QPFC-ASPPA's Newest Credential
Qualified Plan Financial Consultant (QPFC) is the newest professional credential designed specifically for financial professionals who specialize in retirement plans. Offering comprehensive education and a self-paced exam series, you can be among the first to set the bar for everyone else. [Learn more]

Purchase your copy of the 2004 Best Practices Survey today!
Your source for industry statistics and data. [Learn more].

View The Most Recent Actuarial Standards Board Proposed Revisions
Final revision of ASOP No. 11, Financial Statement Treatment of Reinsurance Transactions Involving Life or Health Insurance [final]
Final revision of ASOP No. 19, Appraisals of Casualty, Health, and Life Insurance Businesses [final]
Exposure Draft, Proposed Revision of Actuarial Standard of Practice No. 15 [draft]
Second Exposure Draft, Proposed Revision of Actuarial Standard of Practice No. 4 [draft]
Exposure Draft, Proposed Revision of Actuarial Standard of Practice No. 27 [draft]
Exposure Draft, Proposed Revision of Actuarial Standard of Practice No. 35 [draft]

University of Michigan and ASPPA Now Partners
ASPPA is now partnering with the University of Michigan to oversee the academic content and examination standards for ASPPA's credentialing program. The partnership will couple the university's academic expertise with ASPPA's industry and retirement plan expertise. [more]

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Mark Your Calendar (more)

Sign Up Today! ASPPA Webcast on Nov. 1
Tax Deductions after PPA: Cruising on the 404. Wednesday, November 1. Presented by Joan A. Gucciardi, MSPA, CPC, Gucciardi Benefits Resources, a Division of Summit Benefit & Actuarial Services.  Hurry register today. Don't be left out!
[More info]
[Register online ]

Annual Conference
Held in Washington, DC, attendees of this conference share quality time with representatives from every aspect of the retirement plan industry. This is an awesome learning opportunity attended by over 1,500 of your colleagues. Each year, there are new regulations and legislation to understand, new products and services on the market, and new opportunities to increase your professional knowledge, enhance your business services and products, and an opportunity to meet new friends and network with old ones. You’ll also have a chance to visit over 80 vendor displays in the exhibit hall. There are numerous sponsorship and marketing opportunities available. The Annual Conference offers 20 hours of ASPPA continuing education credits and provides Joint Board for the Enrollment of Actuaries (JBEA) credit hours for enrolled actuaries. For more information, click here

The ASPPA 401(k) SUMMIT provides a unique, interactive environment for retirement sales and investment professionals. Learn from the pros and tap into a mountain of opportunity. Prominent keynote speakers will focus on industry trends and economic factors affecting the ever-changing 401(k) marketplace. Gather practical advice from the best in the business. Pursue your special interests during workshops, featuring topics covering a variety of disciplines. Come hear how PPA06 will affect 401(k) plans in the future.  Also, visit over 100 industry exhibitors who will be there to share the products and technology in the industry.
[More info]
[Register online]

> More Conferences

Examining IRS Examinations and Enforcement: How to Get out of an IRS Plan Audit Alive webcast
As the IRS continues to step up its examination activity, it is increasingly important that practitioners approach IRS audits with acumen.  From the mundane (how should we present the material requested?) to the strategic (how do we negotiate in CAP?), this webcast will provide important information for anyone who represents clients during these examinations. Presented on June 29, 2006 at 2:00 eastern by Ilene H. Ferenczy, CPC, and Michael Julianelle, IRS [Register]

> Archived Webcasts

2006 Exam Registration Available
ASPPA has opened exam registration for the 2006 spring and fall exam windows. To learn more about our exams, go to our Education and Exams web page. Or you can go directly to the online registration page.

> Education & Exams

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National Institute of Pension Administrators (NIPA) 2007 Business Management Conference January 13-15, 2007 Sanctuary on Camelback Mountain . Scottsdale, Arizona For more information: http://www.nipa.org/conferences/bmc/