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The IRS has updated the information it provides concerning reporting contributions to IRAs. The information is contained in Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs). What's New for 2022    The following information in Publication 590-A is new for 2022... READ MORE
The IRS has updated the information it provides for determining the tax treatment of pension and annuity income under the General Rule. The information is contained in revised Publication 939, General Rule for Pensions and Annuities, which the IRS has updated for 2022 reporting. The publication... READ MORE
What's in the Episode What's on the tax policy agenda for the Treasury Department, and what are its priorities? What about the technical correction in SECURE 2.0 needed for Roth catchup provisions? And, more basically, how is a regulation born—the process for developing a regulation and the... READ MORE
Another excessive fee suit with participant-plaintiffs represented by two active ERISA litigants — has been dismissed on a number of grounds. The defendants in this case — DISH Network Corporation, the board of directors of that firm, and the retirement plan fiduciaries of the $841 million DISH... READ MORE
Add the Tar Heel State to the list of those offering a state-run plan that picks up the slack left by employers that don’t offer a retirement plan. Well, if a new bill just introduced is passed and enacted, that is.   HB 496 would create the North Carolina Small Business Retirement Savings Program... READ MORE
A bill that would create a state-run multiple-employer retirement savings plan in the Show Me State is moving through the state House of Representatives toward consideration by the full chamber. The measure, which Rep. Michael O’Donnell introduced on Jan. 4, had been referred to two House... READ MORE
Eli Lilly has withdrawn its motion for attorney fees and costs — a move that says a lot about the cost of litigation in both time and money. You may recall that the defendants in this case are the fiduciaries of the $8.2 billion Eli Lilly plan (as well as the company itself, and the employee... READ MORE
Even though the ink is barely dry on the SECURE 2.0 Act, there’s no rest for the weary, as some in Washington are pushing a federal government-run retirement system that would unfairly compete with the private sector, warned Brian Graff on April 2. Graff, who serves as CEO of the American... READ MORE
Social Security continues to face “significant financing issues,” says the Board of Trustees of the federal Old-Age and Survivors Insurance and Disability Insurance (OASDI) Trust Funds in its annual report to Congress. It notes that it has arrived at that finding in prior years. The Board calls on... READ MORE
Are younger generations ready for retirement? A more complicated question than it appears at first blush, and it starts with the basics. Adulting?    A variety of factors are relevant in answering the question of whether younger adults are ready or even preparing at all — and one of them is... READ MORE
Apart from the recent market volatility, a new study shows significant growth in account balances for 401(k) plan participants who consistently participate — especially for younger workers.   According to the study from the Employee Benefit Research Institute (EBRI) and the Investment Company... READ MORE
Claiming that the suit by 25 state attorneys general “rests on a false premise,” the Labor Department is pushing back on a motion to forestall implementation of the so-called ESG regulation. More specifically, the “Defendants’ Opposition to Plaintiff’s Motion for Preliminary Injunction” says that... READ MORE
A federal judge has denied the Labor Department’s motion to move a suit involving the so-called ESG regulation from a federal court in Texas to Washington, DC. U.S. District Judge Matthew J. Kacsmaryk denied the Department of Labor’s (DOL) motion (State of Utah et al. v. Walsh et al., case number... READ MORE
Fidelity Investments is out with its latest Retirement Savings Assessment showing a decline in retirement readiness, as Americans continue to navigate ongoing market volatility and disruption.  The firm projects that the median “Retirement Score” has moved back into the yellow zone at 78 — a five-... READ MORE
While Millennials remain the largest cohort in the workforce and bring their own unique perspectives and expectations, the so-called Zoomer Generation born between 1997 to 2012 is beginning to enter the workforce and is already starting to have an impact on the retirement industry.   This is... READ MORE
The Treasury Department and the IRS seek feedback regarding the tax treatment of a nonfungible token (NFT) as a collectible under the tax law. The matter has relevance not only for saving and investment, but also for IRAs.  The announcement comes in IRS Notice 2023-27.  The IRS also seeks... READ MORE
Live Nation finds itself in the crosshairs of litigation — and it has nothing to do with Taylor Swift tickets. As it turns out, Live Nation Entertainment Inc. (which merged with TicketMaster in 2010), currently embroiled in controversy about access to tickets for mega star Taylor Swift, now also... READ MORE
The Department of Labor (DOL) in its budget proposal for fiscal year 2024 seeks funding to implement SECURE 2.0, and that includes retirement-related priorities.  The DOL seeks $4,672,000 to Implement SECURE 2.0. The DOL indicates that it has no choice but to do so.  The Consolidated... READ MORE
If a measure before the Oregon Senate becomes law, ABLE accounts would be added to the options available to employees in Oregon. If enacted, the new option would be available beginning Jan. 1, 2025.  SB 571 provides that if an employer offers or provides contributions to employee retirement... READ MORE
The newest digital edition of ASPPA’s members-only magazine has been posted online! SECURE 2.0 was enacted on the cusp of 2023. It’s complex and confusing — but also filled with opportunity. In this issue’s cover story, John Sullivan and Nevin E. Adams, JD take a look at what retirement... READ MORE