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News Archive
The last time I wrote for ASEA Monthly, I weaved an intricate tale of the House of Dragons TV series and its relation to our actuarial responsibilities, nay, duties to receive continuing education in the topics of ethics and bias.
This time, my mission is easier: mortality table updates! It's...
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The American Retirement Association, on behalf of its five retirement industry associations, regularly engages with Federal and State regulators through correspondence on regulatory projects that impact our membership. This engagement enables ARA to detail its policy positions to the regulators and...
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Retirement coverage is not universal, and any employer can find it challenging not only to cover employees, but also to motivate them to participate in the retirement plan that it offers. But it can be particularly challenging for some industry sectors.
Leaders from one sector—post-acute care...
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ASPPA sister organization Plan Sponsor Council of America (PSCA) is out with its latest survey of 401(k) plans. It finds that after record contribution rates from participants and employers in 2021, plan contributions dipped in 2022.
However, although participation and contribution rates slipped,...
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While employees expect their defined contribution (DC) plan to be a key vehicle for funding their retirement, most are worried their retirement savings will not be enough to cover their expenses, according to new research from Buck.
To gain insight into employees’ satisfaction with their...
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PenChecks COO Alexandra Gerritsen has been a hard charger her entire career, delivering exceptional performance for her employers. Her journey was full of eye-opening “Oh S@%$”...
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The Department of Labor’s Employee Benefits Security Administration (EBSA), the IRS, and the Pension Benefit Guaranty Corporation (PBGC) on Nov. 17 released informational copies of the 2023 Form 5500 Series. They have been released online.
These versions of the Form 5500, Form 5500-SF, and Form...
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Good news from the Pension Benefit Guaranty Corporation (PBGC): both its multiemployer and single-employer insurance programs are healthy, and are in an even better financial position than they were at the start of 2023.
The PBGC—which protects the retirement benefits of more than 31 million...
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After denying a request to extend the comment period for its proposed guidance to update the definition of an investment advice fiduciary, the Department of Labor (DOL) announced that the Employee Benefits Security Administration (EBSA) will hold an online hearing beginning Dec. 12.
According to...
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Laying the foundation for long-term financial stability means more than the traditional approaches to saving for retirement. How can one meet the needs of participants as well as work together to add value and seize opportunity?
Experts and industry leaders offered perspectives in recent panel...
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During the previous two editions of The State of Retirement Income, researchers at Morningstar recommended that the so-called 4% safe withdrawal rate for retirees should be lowered given current market conditions, but that has now changed.
Owing largely to higher fixed-income yields and a lower...
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The SECURE 2.0 Act’s creation of an online searchable lost and found database at the Department of Labor (DOL) to help American workers find lost retirement savings benefits has moved one step closer to becoming a reality.
The Technology Modernization Fund (TMF)—which invests in technology...
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It’s been a couple of fast-moving days for the Department of Labor’s (DOL) proposal to amend the definition of investment advice fiduciary, as the House GOP has stepped up efforts to block the DOL from implementing its proposal, while the department has now denied a request to extend the comment...
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The Plan Sponsor Council of America’s (PSCA) 5th annual health savings account (HSA) Survey of more than 500 employers indicates that more employers are framing HSAs as part of a holistic retirement savings approach and not just a spending account for current health care expenses.
In fact, the...
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The private pension plan cornucopia was half full or half empty in October, depending on one’s perspective. Analyses were mixed on how the plans fared.
Willis Towers Watson, which tracks a hypothetical pension plan invested 60% in equities and 40% in fixed-income funds, reported that its plan...
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Near retirees are in a unique position. The good news is that for the most part, they are living longer, are healthier than in the past, and have more work options than their predecessors. At the same time, there still is a significant number of them who perform physically challenging jobs—and that...
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There are challenges facing not only those saving for their retirement, but also the retirement industry and professionals who work to help them to do so. A panel of industry leaders recently offered their perspective on meeting those challenges in order to better facilitate effective saving for...
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Retirement solutions need to adapt to a changing world—and that means meeting attendant challenges in order to meet the needs of retirees and those who serve them.
“This is a pivotal point in time,” said SPARK Institute Executive Director Tim Rouse at the opening of the recent SPARK Forum. He...
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With many workers electing workplace benefits during open enrollment this month, a new survey finds that less than half will review or increase their retirement plan contributions, suggesting a missed opportunity to improve their retirement readiness.
In fact, findings from the Corebridge...
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Calling the latest iteration of the fiduciary rule “the third installment of a long running regulatory series,” American Retirement Association CEO Brian Graff went directly to the source, speaking with EBSA COO Tim Hauser about the Retirement Security Rule.
The two fiduciary ‘veterans’ sit down...
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