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Last week, a new report claimed to find a big jump in a so-called “magic” number for retirement, based on what survey respondents said they thought they’d need. As though they’d know.
It garnered quite a bit of coverage, including an article in The Wall Street Journal (and a comment from none...
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For the IRS, fiscal year (FY) 2023 “was a transitional year,” largely due to funding provided under the Inflation Reduction Act of 2022 and application of technology, according to Commissioner of Internal Revenue Danny Werfel. His made his remarks in the agency’s most recent data book, an annual...
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Vanguard and Ascensus have announced a major deal that could potentially shake up the small-business retirement plan market.
According to the April 16 announcement, Ascensus has entered into a definitive agreement to acquire Vanguard's Individual 401(k), Multiple Participant SEP (Multi-SEP), and...
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The Green Mountain State and the Centennial State are going to partner in establishing VT Saves, the state-run program that will provide retirement plan coverage for private-sector employees in Vermont whose employers do not.
On June 1, 2023, Gov. Phil Scott (R) signed into law a measure creating...
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Momentum is increasing in Congress to repeal the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).
In March, Reps. Garret Graves (R-La.) and Abigail Spanberger (D-Va.) called on the House Ways and Means Committee to hold a markup on their bipartisan bill, H.R. 82, the...
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Ongoing economic challenges are changing how Americans are thinking about retirement planning, with nearly 6 in 10 pre-retirees (57%) believing that inflation poses the most immediate challenge to their retirement portfolios over the next 12 months.
And this stress apparently is shifting the...
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Spring cleaning is well underway. But that need not be limited to closets, kitchens, and garages—it can serve retirement plans and their administrators too. And one such prime function is addressing missing participants.
Missing participants—former employees whose benefits remain in the plan but...
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The IRS on April 16 issued guidance on certain specified required minimum distributions (RMDs) for 2024. It adds that the final regulations it plans to issue related to RMDs will apply for purposes of determining RMDs for calendar years beginning on or after Jan. 1, 2025.
The guidance is...
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The Department of Labor (DOL) on April 15 released a proposed information collection request (ICR) to help implement a forthcoming lost-and-found database to assist individuals with locating missing retirement accounts, but the operation appears to have hit a slight bump in the road.
Section 303...
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A new survey-driven analysis of the Saver’s Match program enacted under the SECURE 2.0 Act finds that the program has the potential to be a “force multiplier” in helping lower-to-middle income Americans boost their retirement savings prospects.
More specifically, the analysis conducted by Boston...
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