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Most Americans seem to like their 401(k)s — even if they don’t have a 401(k) — and they’re not very keen on government proposals to change them, according to a new survey.In fall 2015, a whopping 88% of households disagreed that the government should take away the tax advantages of DC accounts, and...
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The assets of the nation’s largest retirement funds slid 2.3%, as pension de-risking moves took their toll on corporate DB plan assets.Among the 200 largest plans, DC plan assets crept 1.5% higher to close at $1.81 trillion, while DB plans shed 3.6% to $4.58 trillion. Pensions & Investments...
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Defined benefit plans’ allocation to commodities and returns from those investments fell in 2015, says a recent report.According to Pensions & Investments, the top 1,000 DB plans’ allocation in commodities dropped by 16.2% since 2014. P&I reports that the decline in the Bloomberg Commodity...
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Student loans can be a help in earning a college degree. That’s a good thing, since that degree can help that former student pay off the loan and try to come closer to a day when he or she can start saving for retirement in earnest. Recently released research includes data on what student debt can...
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Increased longevity is good news! But for pension plans it’s another story. For them, it creates more stress — it spells greater drain and heightens the likelihood that plans will pay benefits for a longer period.The Social Security Administration’s (SSA) Office of the Chief Actuary late in 2015...
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The Obama administration’s final budget wasn’t a complete retread of its prior retirement plan proposals, but there wasn’t much good news for employer-sponsored retirement plans.Small business owners and small business retirement plans were once again targeted by a proposal that would limit the...
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Though specific policy details remain elusive on many key issues in the 2016 presidential campaign, the tax reform proposal of a leading candidate could undermine the 401(k).Sen. Marco Rubio (R-Fla.), after his surprisingly strong third place finish (just behind Donald Trump and Ted Cruz) in the...
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Millennials are the newest — and largest — part of the workforce. And they have needs and approaches that differ markedly from those of their older compatriots, including how they learn. Those who serve and administer retirement plans are wise to pay attention to, and respond to, their unique...
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Is a pension plan you serve considering de-risking? If so, your clients may be well-served if you make sure they are aware that de-risking means more than addressing problems the plan itself may be having — it means that participants may have some decisions to make as a result.In a recent Wall...
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Wrapping up a first week of February with action on legislation designed to block, slow or thwart the Department of Labor’s (DOL) fiduciary rule, the U.S. Senate finally got into the act with two pieces of legislation.Sen. Johnny Isakson (R-Ga), chairman of the Senate Health, Education, Labor and...
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Do you sometimes feel like you have spent your precious time performing tests that no longer seem relevant or meet an arbitrary deadline? Have you ever come across a nonsensical rule that continually trips up you or your staff and you think to yourself: “it would be so much easier if…”?We all know...
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The U.S. Chamber of Commerce has made suggestions in a recent paper for ways to bolster the private-sector retirement system.The keys to strengthening the system, says the Chamber, is to strengthen the current retirement structure, address the demographic changes and retirement needs of an evolving...
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The funded status of the pension plans the Standard & Poors (S&P) 500 and 1500 companies sponsor improved in 2015, but since the ball dropped at Times Square things are different. According to the ratings company, their funding level took a hit in January.The funding level fell by 3% for...
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The Winter 2016 issue of Plan Consultant magazine is now available on ASPPA Net.The Winter issue, mailed to all ASPPA members in January, marks the start of ASPPA’s 50th anniversary year with a cover story that recaps ASPPA’s first half century and offers insights into the birth and development of...
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For the second time in a week, an important committee in the U.S. House of Representatives has approved legislation that could undermine the Labor Department’s proposed fiduciary rule.The most recent step was a 26-12 vote by the House Ways and Means Committee on Feb. 3 to pass the Strengthening...
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Generation X — long overlooked as a generational “middle child” between Boomers and Millennials — is waking up to the realities of retirement savings, according to a new report.With the eldest members of Gen X turning 50, it’s little wonder that retirement finances are grabbing a larger share of...
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The latest issue of Employee Plans News, a periodic IRS newsletter with retirement plan information for retirement plan practitioners, highlights recent developments concerning the IRS Employee Plans Determination Letter Program, as well as links to recent guidance and updated forms and...
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The latest issue of Employee Plans News, a periodic IRS newsletter with retirement plan information for retirement plan practitioners, highlights recent developments concerning the IRS Employee Plans Determination Letter Program, as well as links to recent guidance and updated forms and...
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The Department of Labor (DOL) has filed suit against the International Association of Machinists National Pension Fund (IAMNPF) and its board of trustees for multiple violations of ERISA. The DOL seeks a court order requiring the defendants to restore any losses the fund suffered due to the alleged...
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Work for decades. Save for decades. Then after those decades and the end of the retirement party, the spending begins. That’s the way it works, at least in common parlance. But some analysts at Vanguard beg to differ.In “Retirement Income: Perceptions vs. Reality,” Anna Madamba, Ph.D. of the...
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