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COVID-19
Many Americans now agree that they took more than was necessary from their retirement savings account during the COVID-19 pandemic.
According to new data from Voya, nearly half (47%) of individuals who took a loan or withdrawal from their retirement plan or other investments due to COVID-19 agree...
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The IRS has updated the questions and answers it provides concerning coronavirus-related relief for retirement plans and IRAs. It also has added information on issues pertaining to partial termination of a qualified retirement plan under Section 209 of the Taxpayer Certainty and Disaster Tax Relief...
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Profound and far-reaching changes took place just a little over a year ago. Panelists at an April 19 session of the Plan Sponsor Council of America’s 2021 National Conference took a look at what it all meant—and means—for retirement plans and participants.
The panel included Bradley Bonno,...
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While a successful outcome was by no means certain at the outset, I think it’s fair to say that the NCAA basketball tournaments—both men and women’s—lived up to, and likely exceeded, expectations.
Sure, there were bumps along the way—though by the time we got to the actual tournament itself—well,...
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The Plan Sponsor Council of America’s (PSCA) third annual HSA benchmarking survey offers insights.
Or will. In this, the third year of this insightful benchmarking survey, and just in time for 2022 plan reviews, we’ll reveal critical benchmarking data on:
HSA participation rates;
employer...
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Among the numerous changes that have taken place throughout the last year, the CARES Act added an additional level of complexity to an already complicated retirement universe. The addition of Coronavirus-related distributions (CRDs) provides participants with the ability to repay qualified...
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After prioritizing COVID-related initiatives in 2020, a new survey finds that many defined contribution plan sponsors expect to return to their pre-pandemic priorities.
The results of NEPC’s Defined Contribution COVID Impact Poll reveal that nearly half of all respondents expect a return to “...
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Despite one of the most challenging periods in recent memory, a new study finds that DC plans continued to perform their critical role in preparing workers for retirement.
Throughout 2020, the majority of the more than 1.1 million participants in over 1,000 John Hancock open architecture DC...
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Proliferation of technological applications and the need to increase retirement plan participation and savings. Seems like a match made in heaven. A panel of experts recently discussed how that pairing is faring and how it can function better.
In “Better Technology, Better Retirement Savings:...
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A year ago today [March 16] was the last time I was in our office with it full of colleagues. Like many of you, we came in, packed up, and headed home—prepared to work from there for a couple of weeks, perhaps a month.
Of course, that didn’t turn out to be the case.
And yet—as an industry,...
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Self-directed participants who stood pat in the face of volatility and early 2020 market lows were rewarded with solid gains, according to the latest findings from Charles Schwab’s SDBA Indicators Report.
The firm’s year-end 2020 report of participant investment activity within self-directed...
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The pandemic’s ill effects go beyond the obvious and literal, and include its impact on employment—which can affect retirement readiness. A recent study finds that the pandemic is pushing many faculty members at institutions of higher learning to consider retiring early, which would have an effect...
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While there is a lot of discussion about how COVID-19 has affected retirement security, a new paper suggests that things could have been a lot worse.
COVID could have worsened the picture for 401(k) plans if financial markets had collapsed, the recession had led to widespread withdrawals, or...
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A recent paper was titled “COVID 19 Is Not a Retirement Story.” A week later, an article on Forbes.com said: “COVID-19 Is Most Certainly a Retirement Story.” So, which is it?
As it turns out, the former was authored by the folks at the Center for Retirement Research (CRR) at Boston College—who...
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Did you ever think that four tiny little provisions in one little bill could cause so much confusion in the retirement plan industry? Did you ever think that one bill could cause you to spend enough time on webinars to complete your continuing education credits not only for this year, but also for...
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While it seems clear the pandemic has caused financial strain to many, a new study suggests there are signs of hope when it comes to retirement planning activity.
According to Allianz Life’s 2021 Retirement Risk Readiness Study, nearly half (49%) of respondents to the firm’s survey said they...
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There is concern regarding the effect of the pandemic on retirement security, and yet some of the more dire expectations have not come to fruition. That was the message of co-authors of a recently released report on retirement security, who offered a closer look at their findings.
In a Feb. 25...
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Released in concert with Voya Financial, the behavioral economist’s new white paper advances several changes to help participants get back on track with their retirement savings.
Dr. Shlomo Benartzi, UCLA Anderson School of Management professor emeritus and a senior academic advisor to the Voya...
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The White House has put forward a series of Paycheck Protection Program changes targeted at small businesses and those not able to take advantage of the earlier relief efforts.
According to the Feb. 22 announcement, the Administration will establish a two-week period, starting Wednesday, during...
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At the time of its passage, many in the retirement industry were concerned that the CARES Act would “open the floodgates” to a large percentage of workers cashing out years of retirement savings.
Fortunately, that did not happen, according to an analysis by Vanguard of its DC recordkeeping data...
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