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Defined Contribution Plans
As DC plans continue to grow in size and complexity, the retirement industry needs to keep up and redefine terms to better reflect the new environment, Willis Towers Watson says in a new report.
Picking up where they left off with their 10 new definitions for DB plans, the firmís new report...
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Aflac Inc. has announced that as a result of the tax reform legislation, it intends to invest in “several key areas that will provide long-term benefits for employees” – including a boost in their 401(k) match.According to a press release, effective in 2018, Aflac will increase the company’s 401(k...
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Sure, the markets have been on a tear — all year long. So, how much impact has that had on average 401(k) balances?
Well, let’s just say that those popping champagne corks may well have been in anticipation of those year-end 401(k) statements. An analysis by the nonpartisan Employee Benefit...
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The time for setting goals and identifying new leaves to turn over has once again arrived. Resolutions ordinarily concern health, career and establishing better habits; however, a retirement planning firm suggests that retirement planning be among them and identifies resolutions toward which to...
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U.S. retirement assets grew in the third quarter of 2017, according to a recent report, reaching $27.2 trillion by Sept. 30. So broad was the growth, in fact, that virtually every kind of retirement plan/asset category showed improvement from the second quarter.
According to the Investment Company...
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Before heading out for the holidays, President Trump on Dec. 22 signed into law (H.R. 1/P.L. 115-97) the most significant overhaul of the federal tax code since the Tax Reform Act of 1986.The $1.456 trillion net tax cut formerly known as the Tax Cuts and Jobs Act delivers major tax relief to...
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As part of its year-end legislative push, the U.S. House of Representatives approved legislation on Dec. 21 extending to victims of the California wildfires access to their 401(k)s and similar plans without incurring IRS penalties or immediate tax liability.This new, proposed tax relief for the...
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Congressional Republicans and President Trump are on the verge of enacting broad-based tax reform legislation once the House of Representatives approves the legislation for the second time in two days.The House must again approve the Tax Cuts and Jobs Act (H.R. 1) after the Senate was forced to...
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House and Senate tax negotiators agreed on the final tax reform legislation Dec. 15, but they had to make some additional changes to pick up support from some wavering members. How did retirement plans fare?
Significantly, the retirement plan issues created by proposed tax changes affecting pass-...
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Seattle workers whose employers do not offer a retirement plan will have access to one through the city if a proposal by Mayor Jenny Durkan (D) is enacted.On Oct. 10, then-Mayor Tim Burgess (D) had sent legislation to the Seattle City Council to establish the Seattle Retirement Savings Plan (SRSP...
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Bipartisan legislation that would allow for electronic delivery of pension and retirement plan information was introduced in the U.S. House of Representatives Dec 11.Introduced by Rep. Jared Polis (D-CO) and Rep. Phil Roe (R-TN), along with 26 cosponsors, the “Receiving Electronic Statements to...
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When it comes to saving for retirement, do employees prefer a “slight nudge” from their employers with helping them save? Or do they want a “kick in the pants”?American Century Investments’fifth annual National Survey of Defined Contribution Plan Participants asked that very question and found that...
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A recent headline suggests that a Roth election could “mitigate” the retirement plan issues identified with a mismatch in tax rates for pass-through entities — but that falls well short of solving the problem created for small business retirements.
A recent article on the PLANADVISER website...
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House Ways & Means Committee Chairman Kevin Brady (R-TX) announced Dec. 8 that conferees from the House and Senate will hold an open meeting on Wednesday, Dec. 13 to begin the process of reconciling the two chambers’ versions of tax reform legislation.Last week, the House and Senate both...
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It’s no secret that defined contribution plans have been gaining ground at the expense of defined benefit plans. And there certainly is no dearth of explanations for that trend. A recent blog entry discusses some of the challenges that are causing employers and plan sponsors to think longer and...
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Employers in the healthcare industry, it seems, are not immune from some of the macro trends concerning retirement plans. A recent study that takes the temperature of that segment’s retirement plans finds chills as well as robust conditions much like those in other industries.
In “The Path to...
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The headline of a recent article didn’t pose that as a question. And that should make you think.The article, penned by a not-yet-30-year old, was mostly negative on the nation’s primary private retirement savings vehicle, but to my read, that wasn’t her fault. Rather, it was the net result of the...
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A scheme targeting individual 401(k) accounts, potentially at multiple recordkeepers, has resulted in a lawsuit by the U.S. Attorney’s office in Colorado to recover as much as $2 million in losses.
The lawsuit, U.S. v. $81,963.74 in U.S. Currency (D. Colo., No. 1:17-cv-02894-PAB), filed Dec. 4 in...
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DC plan participants demonstrated an ongoing commitment to retirement saving during the first half of 2017, as the latest recordkeeper data show that most participants maintained their asset allocations and contribution levels.
The Investment Company Institute’s (ICI) “Defined Contribution Plan...
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UPDATED 10:30 AM ET 12/6/2017
After a long and sometimes heated debate, the Senate took a major step toward enactment of landmark tax reform legislation, approving its version of the Tax Cuts and Jobs Act (H.R. 1) at nearly 2:00 a.m. Saturday, Dec. 2.
The bill, as amended by the Senate, was...
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