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Both parties in a proprietary fund suit lost most of their attempts to make their case without going to trial.
The ruling from Judge Claudia Wilken of the U.S. District Court for the Northern District of California involved two separate suits brought by participants in Franklin Templeton’s 401(k)...
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House Republicans have released a wide-ranging tax package – including a number of retirement savings provisions – setting the stage for negotiations on a year-end tax package as the 115th Congress comes to a close.
The main components of the package (the Retirement, Savings, and Other Tax Relief...
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HSAs continue to increase in popularity thanks to their triple tax advantages and increased adoption in health plans, but there is room for improvement, according to a new study.
Morningstar’s second annual study assessing HSAs from 10 of the largest providers finds that most have improved the...
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With time running out for the 115th Congress, a controversial solution to a looming pension crisis has emerged.
The crisis involves the Pension Benefit Guaranty Corporation’s (PBGC) Multiemployer Program, which currently has a deficit of $53.9 billion, and while that is down from $65.0 billion at...
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Making simple design enhancements to a retirement enrollment website can produce results that are similar to an employer increasing its match limit, according to a new study.
Conducted in association with Voya Behavioral Finance Institute for Innovation, Saurabh Bhargava and Lynn Conell-Price of...
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“Best interest” is a very familiar term after the last decade plus of discussion of fiduciary rules and standards. But its meaning is still a bit fluid and certainly wide-ranging. In a recent blog post, Fred Reish discusses what “best interest” really means.
“‘Best Interest’ has become part of the...
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Portability of retirement savings is not a new issue. In a recent commentary, former Senior Advisor to the Secretary of the Treasury Mark Iwry discusses this enduring matter, its importance and its prospects.
In a recent opinion column in The Hill, “Labor Department Rightly Trying to Plug Pension...
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The IRS has issued a draft of the Form 5500-EZ to be used in reporting concerning 2018.
The IRS notes that there are two changes in the form since last year:
The title of Form 5500-EZ has been changed to match the purpose of the form to include both a one-participant retirement plan and a...
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I am just returning from the ARA Board meeting in Key West. We had 9 inches of snow on the day that I left home. The trip was a great early winter get away!
During the meeting, each sister organization provided an update. Most of the ACOPA update related to Academy actions and subsequent vote. My...
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In what will be his third stint as chairman, veteran senator Charles Grassley (R-IA) has decided to return as head of the powerful Senate Finance Committee.
When the 116thCongress convenes in January, Grassley, 85, plans to step down from his current position as chairman of the Senate Judiciary...
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The ERISA Advisory Council has recommended that the Department of Labor (DOL) issue new guidance on ERISA bonding. The recommendation comes in a report to Secretary of Labor Alexander Acosta that includes the council’s evaluation of the DOL’s regulations and guidance on ERISA bonding requirements...
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Two plaintiffs in a class action suit against third-party administrator Vantage Benefits and custodian Matrix Trust company have voluntarily dismissed without prejudice their lawsuit against the latter.
The two plaintiffs, who are Texas A&M University retirees, voluntarily dismissed their...
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Thanksgiving has been called a “uniquely American” holiday, and though that is perhaps something of an overstatement, it is unquestionably a special holiday, and one on which it seems appropriate to reflect on all for which we should be thankful. And so…
I’m thankful that participants, by and...
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ASPPA Connect wishes its readers a happy Thanksgiving. Thank you for your support! ASPPA Connect will not be appearing on Friday, Nov. 23; however, it will be back to business as usual on Monday, Nov. 26.
Most people are very familiar with the Thanksgiving proclamations George Washington and...
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In response to a federal court request, Golden State officials have elaborated on why CalSavers – the state’s state-run automatic IRA program for private sector workers – isn’t preempted by ERISA.
The comments came in a brief (Howard Jarvis Taxpayers Ass’n v. Calif. Secure Choice Ret. Savings...
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California has joined neighboring Oregon in offering a functioning state-run retirement plan for private-sector employees whose employers do not offer a retirement plan. The pilot for CalSavers formally launched on Nov. 19. Calpensions had announced recently that the launch was impending....
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Those served by the Pension Benefit Guaranty Corporation’s (PBGC) single-employer program have something to smile about — the PBGC has reported that the program now shows a positive balance.
The news, contained in the PBGC’s Fiscal Year 2018 Annual Report, shows progress at a much faster rate than...
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A group of Senate Democrats have introduced a bill “designed to help more working families and middle-class Americans save for retirement” – and it brings back MyRA.
The legislation – the Encouraging Americans to Save Act (EASA) – enhances retirement savings incentives by:
restructuring the...
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What’s the best solution where saving for retirement is not a priority? Meet workers where they are with the right kind of liquidity! Don’t agree? Well, what about the next best solution? You guessed it: help workers avoid the wrong kind of liquidity!
No recent headline includes more hyperbole...
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Nobody likes to be thought of as “average” – so why do people spend so much time worrying about the “average” 401(k) balance?
These averages are reported with some regularity by any number of providers (based on the records for which they have access), and sometimes by academics drawn from...
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