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.

Deals & People February 17, 2015

Cetera Partners with Envestnet on RPS Platform

A partnership between Cetera Financial Group and Envestnet Retirement Solutions enables Cetera to offer Envestnet’s practice management platform to its retirement plan advisers.
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Envestnet Retirement Solutions’ (ERS) practice management program gives Cetera advisers access to an interactive dashboard plugged into their entire retirement plan business, according to the firms. 

Jon Anderson, director of retirement plan services at Cetera, says his firm’s advisers can now use Envestnet solutions to create and manage requests for proposals, customize investment policy statements, and conduct fee benchmarking reports. They can also research plan investment options and generate investment advice via the Envestnet practice management platform.

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Representing a network of independent broker/dealer firms, Cetera is the retail financial advice platform provider of RCS Capital Corporation, a full-service investment firm. The partnership with wealth management technology and services provider ERS represents a shared vision of enhancing the retirement business in which integrated technology can help enable advisers to further grow their retirement practices, according to Babu Sivadasan, ERS group president.

Sivadasan adds, “Coupled with its integrated recordkeeper and third-party manager relationships, ERS will empower Cetera’s advisers with scalable, customizable practice management technology to facilitate Cetera’s ability to provide retirement plan fiduciary services that help enhance the outcomes for both plans and participants.”

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