Deals & People February 17, 2015

RMR Expands Retirement Planning Group

Independent advisory firm RMR Wealth Builders appointed Stuart Simchowitz to develop the firm's 401(k) and retirement plans business.
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As the new practice leader of the RMR retirement planning group, Simchowitz is tasked with providing advice and consulting support to more than 150 qualified retirement plans with more than $300 million in assets.

The firm, which creates investment and wealth management solutions for individuals, families, corporate retirement plans, charities, and foundations, intends increase 3(21) and 3(38) investment fiduciary offerings under Simchowitz’s guidance.

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“Stuart is unquestionably recognized as one of the industry’s leading experts and his track record in corporate retirement planning and 401(k) is impressive,” says Joseph Russo, co-chairman, RMR. “With Stuart at the helm of our retirement planning group, RMR will be more favorably positioned to improve the depth and breadth of its offerings.”

Simchowitz is the founder of Sammax Consultants and has specialized in employee benefits as a consultant throughout his more than 30-year career. He has earned the accredited investment fiduciary and certified 401(k) professional designations, among others.

Compliance February 17, 2015

IRS Announces Retirement Plan Webinars in March

The Internal Revenue Service has announced two free webinars in March about important retirement plan topics.
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On March 5, at 2:00 p.m. EST, the agency will host a webinar titled “Highlights of the Second Cycle E Determination Letter Application Process.”

Webinar participants will learn:

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  • Who may submit during the second Cycle E;
  • What plan sponsors must include with their applications;
  • How the IRS will process applications;
  • What are the new reference lists; and   
  • What changes plan sponsors must make to their plans (Notice 2014-77 – 2014 Cumulative List).  

The Internal Revenue Service (IRS) is asking that general questions for this webinar be submitted by February 27.

On March 26, at 2:00 p.m. EST, the IRS will host a webinar titled “Retirement Plan Loans to Participants.”

Webinar attendees will learn:

  • What type of plans can make loans to participants;
  • What are the conditions a plan must follow to make loans;
  • What are the required terms of a plan loan;
  • How plan loans may be taxable under IRC Section 72(p);
  • When plan loans violate the prohibited transaction rules of IRC Section 4975; and
  • How to fix plan errors involving loans.

The agency is asking that general questions for this webinar be submitted by March 20.

Information about how to register for the webinars is available here.

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