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Health savings account (HSA) assets grew by over $5.8 billion in January 2019 to reach $59.6 billion, up 11% since the end of 2018, according to an industry report.  In addition, the total number of HSA accounts also grew by almost 5% in January, with the total rising to an estimated 26.3 million... READ MORE
Picking up where they left off in the last Congress, Reps. Lisa Blunt Rochester (D-DE) and Tim Walberg (R-MI) have reintroduced legislation to make it easier for retirement plan sponsors to provide guaranteed lifetime income products as part of their DC plan.    In general, the Increasing Access... READ MORE
There is less than a month to make required minimum distributions (RMDs) from traditional IRAs and employer-provided retirement plans to taxpayers who reached age 70½ in 2018. The IRS on March 5 in IR-2019-29 issued a reminder that the deadline is April 1. The April 1 deadline applies to owners of... READ MORE
The IRS on March 6 announced that it no longer intends to amend the required minimum distribution (RMD) regulations to address the practice of offering retirees and beneficiaries who are currently receiving annuity payments under a defined benefit plan a temporary option to elect a lump-sum payment... READ MORE
Democrats in both houses of Congress have introduced legislation that will tax financial transactions – including those in your 401(k). "It's called the Wall Street Tax Act, but it's really a Main Street savings attack," said Brian Graff, CEO of the American Retirement Association. The Wall... READ MORE
The California Secure Choice Retirement Savings Investment Board has proposed regulations that would directly address questions of eligibility, processes and duties, as well as further define terms and clarify sections of the law that created the CalSavers Retirement Savings Program. The board... READ MORE
A group consisting of 12 separate financial services trade associations – including SIFMA, ACLI and the U.S. Chamber of Commerce – have highlighted both preemption issues and legal deficiencies with Nevada’s proposed fiduciary regulation that they say goes “well beyond” the state’s legal authority... READ MORE
Of late, we’ve been getting a lot of questions about legislation that would create open multiple employer plans (MEPs). Here’s the update.  Ever since the Department of Labor issued an explicit ruling in 2012 that an open MEP is not a single employee benefit pension plan but a group of single... READ MORE
Some plan sponsors and administrators “stretch the match” as a way to increase participants’ contributions to their retirement savings accounts. Does the strategy work? A recently released study seeks to find out. Stretching the match is a practice in which an employer sets a higher employee... READ MORE
Plan fiduciaries have asked the nation’s highest court to weigh in on when ERISA’s three-year statute of limitations begins – and if disclosure alone is enough to start that clock.  In asking the U.S. Supreme Court to take up the case, plan fiduciaries at Intel said the question presented was “... READ MORE
The Silver State managed to overlook the long history of ERISA preemption in its recent draft fiduciary regulations. Once again, the American Retirement Association has brought this to their attention. The comments came in response to draft regulations issue in mid-January by Nevada’s Office of... READ MORE
IRAs have existed for 45 years – middle-aged in human terms. But that doesn’t translate to understanding, according to recent research that says Americans’ confidence in their knowledge of IRAs is low. In fact, just over a third of those studied by the LIMRA Secure Retirement Institute said they... READ MORE
A recent headline in The Wall Street Journal started off: “Forget the 401(k).” And then, unintentionally, proceeded to explain why that would be… nuts.  Not that the author (Jason Zweig) didn’t throw in some digs at the subject, making a glancing reference to what he termed “the rigid and often... READ MORE
There are many pieces to the puzzle that is retirement security. And one of them, suggests a benefits institute, is the behavior of plan participants. Working with, and influencing, that can help put pieces in place. In the paper “Ten Ways Behavioral Finance Can Boost Retirement Security,” the... READ MORE
Regardless of political affiliation, large majorities of Americans believe the nation faces a retirement crisis and are largely supportive of state efforts to expand coverage, new survey results show. Findings contained in the National Institute on Retirement Security’s “Retirement Insecurity 2019... READ MORE
Running and maintaining a plan can be complicated — and fiduciary rules are part of the reason. A recent blog entry offers some suggestions regarding how to reduce the risk of making fiduciary errors in operating a plan. “Operational errors can arouse the same severe consequences as an investment... READ MORE
The IRS has posted on its website an updated version of Publication 575, “Pension and Annuity Income,” for reporting concerning 2018.New for 2018 reporting: The IRS has updated Publication 575 concerning the extended rollover period for qualified plan loan offsets in 2018 or later. For... READ MORE
The IRS has updated the information available on its website concerning automatic enrollment. The site provides basic information regarding an employer’s obligations if it decides to offer automatic enrollment and deferrals. It also discusses automatic contribution arrangements, eligible automatic... READ MORE
While confidence in the ability to retire has increased from five years ago, increasing health care costs and market volatility continue to drive client fears of going broke in retirement, new survey results show.  According to the AICPA’s Personal Financial Planning Trends Survey, 30% of CPA... READ MORE
All that stands between a bill establishing the New Jersey Secure Choice Savings Program and its becoming law is the signature of New Jersey Gov. Phil Murphy (D). The state Assembly passed the bill, which calls for the establishment of a state-run retirement savings plan for private-sector... READ MORE

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