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Guaranteed Income
The Department of Labor’s Employee Benefits Security Administration (EBSA) on April 25 issued frequently asked questions (FAQs) on the annual funding notice requirements for multiemployer pension plans that received special financial assistance (SFA) funds under the American Rescue Plan (ARP) Act...
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I’ve been honored with a lot of praise and congratulations over the past couple of months about my “retirement” (and not a little skepticism about my understanding of the term) — but in quiet moments, there’s been one question that keeps coming up.
That question — and it generally arises once...
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A bill is before the Maine legislature that would amend the Maine Retirement Savings Program in a variety of ways.
Background. Gov. Janet Mills (D) signed the Act To Promote Individual Retirement Savings through a Public-Private Partnership (LD 1622) into law June 24, 2022. The legislation had...
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A measure that would create a state-run retirement plan to provide coverage for private-sector employees in Minnesota whose employers do not is under consideration in the state legislature.
Multiple committees in both the state Senate and House of Representatives looked at The Minnesota Secure...
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Most Americans do not think they can depend on Social Security for retirement income, adding to their worries about long-term financial stability, a new study from Allianz Life finds.
According to the firm’s 2023 1Q Quarterly Market Perceptions Study, nearly three in four (74%) respondents do...
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Warnings that Social Security’s long-term solvency is questionable are not new. But how about a little good news? A recent analysis suggests that maybe all is not lost.
The glass is half full, argue Kathleen Romig, Director of Social Security and Disability Policy at the Center on Budget and...
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Connecticut Comptroller Sean Scanlon has announced that the registration deadline for MyCTSavings has been extended to Aug. 31, 2023.
The Connecticut Retirement Security Program — also known as MyCTSavings — is a state-sponsored program that provides retirement plan coverage for those whose...
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Private-sector pension plans had a good start to the year, according to studies that say funding ratios improved in the first quarter of 2023.
Both October Three and financial services firm Wilshire report that even though those plans lost ground in aggregate funded ratios in March, they...
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Vermont is the latest state to push for a mandatory auto-IRA for uncovered workers and is close to getting its wish.
The Green Mountain State’s Senate swiftly and unanimously passed the VTSaves public retirement initiative on Thursday, which was introduced with the support of AARP in March. ...
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A bill that would create a state-run multiple-employer retirement savings plan in the Show Me State is moving through the state House of Representatives toward consideration by the full chamber.
The measure, which Rep. Michael O’Donnell introduced on Jan. 4, had been referred to two House...
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Social Security continues to face “significant financing issues,” says the Board of Trustees of the federal Old-Age and Survivors Insurance and Disability Insurance (OASDI) Trust Funds in its annual report to Congress. It notes that it has arrived at that finding in prior years.
The Board calls on...
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Even though the ink is barely dry on the SECURE 2.0 Act, there’s no rest for the weary, as some in Washington are pushing a federal government-run retirement system that would unfairly compete with the private sector, warned Brian Graff on April 2.
Graff, who serves as CEO of the American...
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If a measure before the Oregon Senate becomes law, ABLE accounts would be added to the options available to employees in Oregon. If enacted, the new option would be available beginning Jan. 1, 2025.
SB 571 provides that if an employer offers or provides contributions to employee retirement...
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The penalties imposed on employers for failure to enroll covered employees in the Maine Retirement Savings Program would be altered under a bill now before the state Senate.
On June 24, 2021, Gov. Janet Mills (D) signed into law a measure creating the Maine Retirement Savings Program. The law...
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Private-sector employees in the Silver State whose employers do not offer a retirement plan could be covered by a state plan, if a bill now before the state Senate is passed and enacted.
Senate Chief Majority Whip Dallas Harris (D-Clark County) on March 16 introduced SB 305, a measure that would...
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Apparently it’s never too early to start thinking about the cost-of-living adjustments for Social Security.
While at this point such things seem to be highly speculative (to say the least), February inflation — as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (...
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Speed has been a hallmark of the Pension Benefit Guaranty Corporation’s (PBGC) Special Financial Assistance (SFA) Program throughout its brief — less than two-years — life. And that’s not changing anytime soon — at least not this year.
The PBGC indicates it’s not going to waste any time in...
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A bill is before the Georgia Senate that would extend Social Security coverage to teachers in public school systems in the Peach State.
Sen. Larry Walker (R-Perry) introduced SB 206 on Feb. 16. The legislation would amend Georgia law regarding Social Security coverage for employees of the state...
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A bill before the Illinois Senate would give participants in the state retirement system the opportunity to choose an additional option for their retirement plan coverage.
Sen. Dan McConchie (R-Lake Zurich) introduced SB 1516, which would require plans by July 1, 2025 to prepare and implement a...
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February may be the depths of winter, but the fortunes of pension plans were warm this year, say a variety of reports. “Pension finances enjoyed another month of positive experience in February,” said one report, summing up the month’s results.
Pension Plan Funding
October Three, which tracks...
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