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Most Americans do not think they can depend on Social Security for retirement income, adding to their worries about long-term financial stability, a new study from Allianz Life finds.    According to the firm’s 2023 1Q Quarterly Market Perceptions Study, nearly three in four (74%) respondents do... READ MORE
What's in the episode?: Debt limits, ESG, presidential vetoes—how in the world did SECURE 2.0 pass in an overwhelmingly (and increasingly) partisan Washington? Where does retirement policy go from here, and what about that MAJOR retirement policy proposal that some members of Congress are... READ MORE
March can be a tumultuous month. And in 2023, private-sector pension plans reflected the volatility of the transition from winter to spring.   Funded Ratios and Status. Like the thermometer following a late snowstorm, funded ratios fell. Insight Investment reports that it dropped by 1.6 percentage... READ MORE
Private-sector pension plans had a good start to the year, according to studies that say funding ratios improved in the first quarter of 2023.  Both October Three and financial services firm Wilshire report that even though those plans lost ground in aggregate funded ratios in March, they... READ MORE
Connecticut Comptroller Sean Scanlon has announced that the registration deadline for MyCTSavings has been extended to Aug. 31, 2023.  The Connecticut Retirement Security Program — also known as MyCTSavings — is a state-sponsored program that provides retirement plan coverage for those whose... READ MORE
Plan sponsor interest in keeping retiree assets in their defined contribution plans is increasing, according to new research from Cerulli Associates based off surveys and conversations with plan sponsors, consultants and DCIO asset managers. More than half (54%) of 401(k) plan sponsors prefer to... READ MORE
Another Midwestern federal court has found that the plaintiffs in a 401(k) excessive fee suit have failed to make their case. This suit had been brought by participant-plaintiffs Ruth Williams, Tovah Allen, Carolyn Ross, Alicia Bates, and Tracy Young against Centene Corporation, the Board of... READ MORE
The plaintiffs had claimed the plan fiduciaries had “an imprudent and disloyal preference for its own proprietary funds” — but have now come to terms. Back in September of 2022, participant-plaintiffs Eric Goldstein, Matt Sudol, and Bonnie Zelazek, individually and as representatives of a class of... READ MORE
On April 6, the Treasury Department and IRS released a Strategic Operating Plan detailing how new funding and thousands of new hires will be applied, saying it will provide taxpayers with “world-class customer service and reduce the deficit by hundreds of billions [of dollars].” The resources —... READ MORE
Vermont is the latest state to push for a mandatory auto-IRA for uncovered workers and is close to getting its wish. The Green Mountain State’s Senate swiftly and unanimously passed the VTSaves public retirement initiative on Thursday, which was introduced with the support of AARP in March.   ... READ MORE
Hello ASEA — Who is excited about the ASEA Advanced Actuarial Symposium in Chicago on Aug. 11-12? Besides the great classes, you can see Madonna at Chicago’s United Center on Aug. 9 and 10, Bruce Springsteen at Wrigley Field on Aug. 9 and 11, and Reggae Gold on Aug. 10 at Subterranean. That last... READ MORE
It's an unbelievable honor to join the American Retirement Association (ARA) and the American Society of Enrolled Actuaries (ASEA) teams. In my short time with ASEA, I've had the pleasure of working with Alan Stone and Elizabeth Duda, both incredibly talented and working very hard to further the... READ MORE
The ASEA Google Group is one of the most valuable benefits of membership. It sees both in-depth and diverse daily traffic. Members can jump right in and network on the Google Group, asking questions, getting answers, and participating with the best of the pension actuary industry. The only place... READ MORE
If you’re older than a certain age, you’re familiar with the tagline, “Roaches check in, but they don’t check out.” It’s kind of like that in a 401(k) plan. You can easily check your money in (contribute to the plan), but it can be hard to check it out (withdraw it). Often, you can borrow money... READ MORE
NTSA, the National Tax-Deferred Savings Association, is proud to honor Susan Diehl, QPA, CPC, TGPC, ERPA, BCF™ with their NTSA 2023 Richard Ford Volunteer Service Award (FVSA). Diehl was recognized at the NTSA 2023 Summit at the Grand Hyatt, Tampa, FL at their Awards Luncheon Feb. 27, 2023. For... READ MORE
The employer match is a tool that through which an employer matches employees’ retirement plan contributions up to a certain percentage of their annual salary. A recent blog entry discusses the forms that matching can take, as well as the good and bad aspects of such a program.  In “Retirement... READ MORE
Feeling cared for at work is a key driver of employee holistic health and happiness, and not prioritizing it can cause major issues in the workplace, according to a new study. MetLife’s 21st annual U.S. Employee Benefit Trends Study found that nearly half of employees (42%) don’t feel cared for by... READ MORE
Workplace benefit professionals who were surveyed on a wide range of employee benefits issues looking toward 2026 predict a massive increase in employer-provided defined contribution (DC) plan coverage, particularly in the smaller plans market. Indeed, most respondents foresee 88% of employers... READ MORE
Will Hansen, Chief Government Affairs Officer for the American Retirement Association, details to John Sullivan what’s going on in Washington. Could the 401(k) system move from the private sector to Treasury? How do provisions in SECURE 2.0 help Americans? Hansen also details what ARA is doing to... READ MORE
The path to Senate confirmation for the current nominee to lead the Department of Labor appears to be getting narrower. The latest salvo comes from House Ways and Means Committee Chair Jason Smith (R-MO), House Education and the Workforce Chair Virginia Foxx (R-NC), Speaker Kevin McCarthy (R-CA)... READ MORE