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Democrats have reintroduced a bill during President Biden’s ongoing battle over student debt forgiveness to restore federal protections for Social Security benefits to prevent them from garnishment by the federal government for the repayment of all non-tax federal debt. Sen. Ron Wyden (D-Ore.)... READ MORE
If you made an error with IRA contributions or discover one, there still is time to correct it. But not much time—the deadline for fixing those mistakes is Oct. 16, 2023.  Among the errors that could cause someone to seek to make an adjustment, observes Sarah Brenner, Director of Retirement... READ MORE
The importance of plan fees has been impossible to miss in recent years—just look at court dockets, if nothing else. And those plan fees can pose a challenge in fulfilling fiduciary duties.  Protecting 401(k) and 403 (b) participants from paying excessive fees is part of plan sponsors’ fiduciary... READ MORE
Benefits play a major role in the employee experience, as most can attest on a personal and professional level, but new research suggests that it’s simply not enough to make benefits available to employees. Instead, employers must go out of their way to educate employees about their benefit... READ MORE
Amid ongoing market volatility, it’s little wonder that plan participants are keeping a close eye on their retirement account balances, and they increasingly are doing so via mobile apps.  As a result, mobile apps have taken center stage as critical tool for retirement investors, according to J.D... READ MORE
A recent MarketWatch article poses the intriguing question: “Why does TikTok hate the 401(k) so much?” Now, as social media platforms go, I’ve pretty much avoided TikTok. Oh, I’ve swung by it from time to time just to see what the “fuss” is, but generally speaking (and even in “retirement”), I’ve... READ MORE
The Department of Labor’s Employee Benefits Security Administration is seeking nominations to fill five vacancies to serve three-year terms on the ERISA Advisory Council, known officially as the Advisory Council on Employee Welfare and Pension Benefit Plans. Nominations are being accepted for one... READ MORE
Noting that “a decision in this appeal has the potential to significantly affect Amici’s members, which include plan sponsors and fiduciaries…,” a group of industry trade groups has filed in support of fiduciaries and providers in a federal court. More specifically, the ERISA Industry Committee (... READ MORE
The IRS on Sept. 13 issued guidance on exceptions from the electronic filing requirements for certain filers of Forms 8955-SSA and 5500-EZ. The guidance comes in Revenue Procedure (Rev. Proc.) 2023-31.  Rev. Proc. 2023-31 supersedes Rev. Proc. 2015-47, 2015-39 IRB 419 regarding the following forms... READ MORE
The findings in a new survey suggest retirement plan professionals need to optimize Social Security benefits with clients, as large percentages of respondents across generations do not have a firm grasp of how the program works. Nearly half (49%) of U.S. adults aged 18 or older believe that they... READ MORE
What's in the episode?: How do you expand retirement plan coverage for workers at scale (close the coverage gap), leverage the behavioral benefits of payroll deduction, and not place an undue burden on employers? One solution is increasingly effective—state-facilitated plans. Retirement policy... READ MORE
Any retirement fund invests its funds in some way to help them grow, and that includes those run by states. A look at how CalSavers handles the investment of its funds sheds some light on how one of the largest state-run retirement plans fosters growth of their funds.  Assets CalSavers had assets... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) on Sept. 12 issued the interest assumptions under the asset allocation regulation for plans with valuation dates in the fourth quarter of 2023. The assumptions are contained in a final rule that amends the PBGC’s regulation on Allocation of Assets in... READ MORE
The industrial revolution, 21st century-style, mass-produces information—but at the same time makes it an individual experience. And that includes information about retirement plans and one’s own retirement plan and account. One of the ways in which that information is delivered is via apps. But... READ MORE
Everyone, relax. There is no retirement savings “crisis,” and you’re probably saving enough for retirement. That’s the message in a recent op-ed in The Wall Street Journal, and a working paper from the American Enterprise Institute’s Andrew Biggs, a frequent critic of what he says are... READ MORE
It’s hard for me to believe that we’re marking the 22nd anniversary of the 9/11 attacks.  Harder still to comprehend that there are individuals now in the workplace who weren’t even alive on that day, and others so young that they have no memory of it. Other significant dates on the calendar have... READ MORE
The Department of Labor (DOL) sent a new version of a proposed fiduciary rule to the Office of Management and Budget (OMB) late Sept. 8 for review.   Known officially as “Conflict of Interest in Investment Advice,” it would redefine fiduciary investment advice under ERISA. According to a post on... READ MORE
Retirement plan professionals are getting increasingly creative in how they observe 401(k) Week, culminating in Friday’s National 401(k) Day. Take Qualified Plan Advisors, the high-profile Kansas City-based firm. Its Nebraska Practice Leader, Charles (Chuck) Smith, is an elite runner with many... READ MORE
Those lazy, hazy, days of summer lived up to their name this year: Private-sector pension plans showed only slight changes in status in August by a range of measures, according to multiple reports.  Funded Status  Funded ratios for private-sector defined benefit plans showed slight changes from... READ MORE
CalSavers has expanded the range of services for which it is seeking professional assistance.  On Sept. 5, CalSavers issued an RFP (request for proposals) announcing that it is seeking a contractor to provide investment consulting services. CalSavers, the state-run program that provides retirement... READ MORE