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Talking about financial investments and products at home can help lead to greater financial literacy and a greater propensity to save for retirement, says a recent study. The LIMRA Secure Retirement Institute in “The Roots of Financial Literacy: The Impact of Family on Financial Knowledge and... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) on Aug. 6 announced that its multiemployer insurance program continues to be in worsening financial shape, while its single-employer counterpart has exactly the opposite condition. The PBGC, in its FY 2018 Projections Report, says that the... READ MORE
The Department of Justice has asked a federal court to hold off ruling on a suit challenging California’s auto-IRA program for private sector workers. The suit in question is a challenge by the Howard Jarvis Taxpayers Association, claiming that the California Secure Choice Retirement Savings Trust... READ MORE
Some trends, such as reduced pension coverage, low savings rates and longer lifespans, have led many to fear a looming retirement crisis, while others, such as women’s increased employment and earnings, longer working lives and economic growth, point to better retirement outcomes. So how will these... READ MORE
Legislation the House of Representatives passed on July 24 is intended to assist financially troubled multiemployer DB plans that meet specified criteria, but that help would come with a hefty price tag, according to the Congressional Research Service (CRS). In a two-page report updated July 19,... READ MORE
While it’s clear that mergers and acquisitions comprised the largest share of restructuring in the last two decades, their effect on retirement benefits is less so, says a new Government Accountability Office (GAO) report. In “Retirement Security: Trends in Corporate Restructurings and... READ MORE
The Wall Street Journal’s editorial board has challenged a specific “pay for” provision in the SECURE Act. But they’re missing the big(ger) picture. One of the main reasons the SECURE Act passed the House of Representatives by the large margin of 417-3 was that, as the WSJ acknowledges, it was “... READ MORE
One strategy that’s often recommended to increase plan contributions in plans without automatic enrollment is to “stretch the match,” but a recent study suggests that may not achieve the desired results. When plan sponsors stretch the match, they apply an existing dollar match to a higher... READ MORE
The so-called Butch Lewis Act to address funding problems facing multiemployer pension plans continues to work its way through the legislative labyrinth, with a second House committee approving the legislation in recent weeks.    In what at times was a hotly debated markup session, on July 10 the... READ MORE
Recent developments at the Pension Benefit Guaranty Corporation (PBGC) have resulted in new forms, a new final rule and a new page listing notices for plan participants. New Form and Instructions The PBGC has announced that a new form and instructions for requesting a determination regarding... READ MORE
Since employees and their behavior are at the root of most decisions about retirement plan participation and how individual accounts are managed, insight into behavior that affects those decisions can be a useful tool in understanding how those choices are made. In a July 9 webcast, “Behavioral... READ MORE
Paying their children’s expenses while caring for their parents, Gen X families are facing a precarious financial situation as they close in on retirement, a new report explains.   The study by the Employee Benefit Research Institute (EBRI), which examines key financial indicators of Gen X... READ MORE
Pension plans managed by religious organizations in Rhode Island now must provide regular updates to participants on the financial health of the plans. Gov. Gina Raimondo (D) signed a measure on July 2 setting that requirement into law. House Majority Leader K. Joseph Shekarchi (D-Warwick)... READ MORE
Financial wellness programs are more effective if they are accompanied by programs that address physical wellness as well as programs that educate participants and motivate them to take action, say recent studies. Wedding of Financial and Physical Wellness In what the firm suggests adds to the... READ MORE
The Oregon Retirement Savings Board (ORSB) now may partner with other states in providing services similar to those offered by OregonSaves, the Beaver State’s the state-run auto-IRA program for private-sector employees whose employers do not offer a retirement plan. On June 27, Gov. Kate Brown (D)... READ MORE
New reports indicate that retirement assets and investment options are growing, and that Americans are feeling optimistic and yet also overwhelmed about finances. Retirement Assets Grow Since the end of last year, total U.S. retirement assets were up 7.4%, reaching $29.1 trillion at the end of... READ MORE
Traditional pension plans are still present, but shrinking — particularly in the private sector. What will fill that void? A recent column argues that the 401(k) can fill the void the decline of the DB plan creates, and then some. In “401(k)s Can Fill the Pension Gap,” American Enterprise... READ MORE
CalSavers, the state-run retirement plan for private-sector employees in the Golden State whose employers do not offer a retirement plan, will be formally launched on July 1. State Treasurer Fiona Ma and former Sen. Kevin de León (D) will launch CalSavers at a ceremony at the State Treasurer’s... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) on June 26  proposed a rule that would make a variety of clarifications, corrections and improvements to four of its regulations. The proposed rule is based on the PBGC’s ongoing efforts to review the effectiveness and clarity of its rules and input... READ MORE
How do your clients’ participants envision their retirements? Are they riding astride unicorns on cotton candy tufts of cloud? Or are they Sisyphus, endlessly pushing to an idyllic summit they’ll never reach? A recent blog entry outlines five myths concerning retirement planning that may help plan... READ MORE

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