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News Archive
What's in the episode?:
What will it take to increase retirement plan coverage and savings nationwide, and specifically in communities of color?
Robert L. Johnson, founder of RLJ Companies and BET, joins ARA CEO Brian Graff for a fascinating discussion about auto-portability, financial wellness...
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Justin Bonestroo, MSEA, EA, CPC, QPA, QKA®, CPFA®, 2023 ASPPA President, in remarks at the Oct. 22 opening of the 2023 ASPPA Annual Conference at National Harbor, MD, noted the role the organization has played in the last year.
ASPPA has a positive influence, he said, and noted its work with...
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Jeff Acheson, CPFA®, NQPA®, is assuming the 2024 presidency of the American Retirement Association (ARA).
Missy Matangola, QPA, QKA®, 2023 ARA President, at the Oct. 22 opening of the 2023 ASPPA Annual Conference at National Harbor, MD, expressed confidence in Acheson. “He will be a fabulous...
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Inflation fears are (understandably) leading to behavioral change, especially with retirement saving and investing.
Following a second straight year of above-average inflation, and after last year’s volatile markets, workers’ perceptions of what retirement will look like has begun to shift,...
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The 2023 ASPPA Annual Conference kicks off Sunday, Oct. 22 at the Gaylord National Resort at National Harbor, located in Oxon Hill, MD, just outside our nation’s capital. We'll be there from the start until the conference ends on Wednesday, Oct. 25, reporting on general sessions, workshops and more...
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[This article has been updated to reflect that Dan Gilbert is not one of EIG's co-founders, he is a member of the Founders Circle, an advisory board with no governance responsibilities. Additionally, Steve Glickman is not a tech entrepreneur, but rather former Senior Economic Advisor at the...
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The IRS on Oct. 19 issued updated mortality improvement rates and static mortality tables for defined benefit plans for 2024. The update is contained in Notice 2023-73.
Notice 2023-73 provides a mortality table for use in determining minimum present value under Internal Revenue Code Section (IRC...
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The Department of Labor (DOL) has taken the first step in exploring ways to improve the effectiveness of retirement plan disclosures under ERISA, consistent with Section 319 of the SECURE 2.0 Act of 2022.
More specifically, the DOL’s Employee Benefits Security Administration (EBSA) on Oct. 18...
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The nation’s youngest members of the workforce have ambitious goals to retire at an early age, though they also believe they are facing more obstacles to do so than those before them.
In fact, according to Charles Schwab’s annual nationwide survey of 401(k) plan participants, Gen Z workers (21–26...
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A hearing has been set concerning legislation that would make Massachusetts the next state to institute a state-run retirement program that would provide coverage for private-sector employees whose employers do not.
The Joint Committee on Financial Services of the Massachusetts legislature will...
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The Pension Benefit Guaranty Corporation (PBGC) announced on Oct. 17 that the guarantee limits for single-employer plans that fail in 2024 will be 5.30% higher than the limits that applied for 2023.
The increase in the guarantee limit is almost 3.5 percentage points less than that announced in...
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The nation’s highest court has decided not to decide the applicability of an arbitration clause in fending off an ERISA suit.
The case that had been appealed to the United States Supreme Court was decided in favor of the participant-plaintiffs by the United States Court of Appeals for the 10th...
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In response to numerous questions posted by House Education and the Workforce Committee members, Acting Labor Secretary Julie Su told the lawmakers that the Labor Department is committed to moving forward on a new rule.
“Our concern consistently has been and continues to be with financial...
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Oct. 15 has finally passed. A day even spookier than Halloween! Which explains all the treats in the kitchen area at work for those hard at work on their 5500s.
Let’s take a flashback to our May issue in which Tiffany Myers, Manager, Actuarial Services at the Cash Balance Center of Excellence,...
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Ever since I became a member of ASEA in 2012 (then ACOPA), I have been struck by the willingness of members to help each other navigate problems—in particular, how so many of the recognized experts go out of their way to help the newer actuaries.
I remember a time shortly after I became enrolled...
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Pension actuaries and professionals working with defined benefit plans face a unique set of challenges when it comes to meeting the Oct. 15 deadline.
This date is pivotal for annual filings and compliance. It’s important to be prepared with strategies to help minimize the stress that can come...
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For the next 10 years, the Social Security trust funds will have a positive balance. But balance sheet solvency after that will be another matter, says the Congressional Research Service (CRS).
In its latest Social Security Primer, updated Oct. 2, 2023, the drumbeat the CRS hits is little...
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The Congressional Research Service (CRS) has released a report concerning the proposals for a new proportional formula for use with the windfall elimination provision (WEP).
Specifically, in “The Windfall Elimination Provision (WEP) in Social Security: Proposals for a New Proportional Formula”...
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Editor’s Note: This is the second in a two-part series about service providers’ audits of clients and their plans. The first installment is here.
Audits may be a frightening and painful experience from the perspective of plan administrators and plan sponsors. But what does it look like from the...
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The recently announced increase in the Social Security cost-of-living adjustment (COLA) for 2024 is much more modest than the one announced just a year ago. But milder or not, it has meaning. So what does it mean?
The milder-than-last-year hike in the Social Security COLA is due to the...
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