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Guaranteed Income
A bill is before the Maryland House of Delegates that would require the State Board of Trustees of the Maryland Teachers and State Employees Supplemental Retirement Plans to implement an automatic enrollment arrangement for state employees hired on or after Jan. 1, 2024
Del. Tony Bridges (D-...
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It may be winter, but the heat continues for CalSavers. The CalSavers Retirement Savings Board, which administers CalSavers, reports that the program continues to grow. In fact, growth in January outstripped that of December regarding total assets and average funded account balance.
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OregonSaves, CalSavers, Illinois Secure Choice…call it what you will, they and their counterparts boil down to one basic thing — a retirement plan sponsored by the state government to provide at least some kind of retirement plan coverage for individuals who lack access to one. In most cases, that...
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There were mixed results for private-sector pension plans in January, according to a variety of gauges — but the overall picture had some good news.
Willis Towers Watson reported a slight chill — its WTW Pension Index decreased 1.3% since December 2022. It attributed that result to an increase in...
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More public-sector employees have access to retirement plans than their counterparts in private industry, reports the Bureau of Labor Statistics (BLS). Same is true regarding participation.
In its Feb. 1, 2023 The Economics Daily, the BLS provides a snapshot of access to, and participation in,...
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The Pension Benefit Guaranty Corporation (PBGC) on Jan. 27 announced the appointment of John Hanley as Chief of Negotiations and Restructuring.
Since joining the PBGC in 2005, Hanley has served in several leadership positions, including Deputy Chief of Negotiations and Restructuring. He has worked...
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The Pension Benefit Guaranty Corporation (PBGC) on Jan. 25 announced a final rule amending the special financial assistance (SFA) regulation to add an exception process for certain withdrawal liability conditions that apply to a plan that receives SFA. The final rule is effective Jan. 26, 2023....
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Pensions obviously benefit retirees, their dependents and their beneficiaries. But while it may be less obvious, pensions also benefit society writ large — to the tune of trillions, with a T.
The National Institute on Retirement Security (NIRS) every two years updates its Pensionomics analysis...
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It’s ironic that programs designed to provide retirement income pay so little attention to the realization of that objective. Still, some have said that this could be the year for retirement income — a combination of new offerings, volatile markets, and rising interest rates — and yet, it still...
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While the long-term economic impact of the pandemic remains unclear, one thing that is clear is the highest inflation in decades has forced many Americans to reevaluate their retirement saving habits.
This is according to a new survey from U.S. News & World Report’s 360 Reviews revealing that...
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The Colorado Department of the Treasury on Jan. 18 announced that the Colorado SecureSavings Program is open for businesses to register with it.
The Centennial State’s state-sponsored retirement savings program for those whose employers do not offer a retirement plan is intended to provide...
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To address the ongoing retirement savings gap, all but three states have initiated or passed legislation to set up a state-sponsored retirement savings plan (SSRP), and while early implementation efforts so far have been successful, a new report suggests there’s room for improvement.
Indeed,...
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Almost immediately after the New Year’s champagne stopped pouring, legislation arrived in the Mississippi House of Representatives that would establish a state-run plan that would provide retirement plan coverage for private-sector employees whose employers do not offer one.
Rep. Orlando Paden (D...
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Legislation that would create a state-run multiple-employer retirement saving plan in the Show Me State is before the Missouri House of Representatives.
HB 155, introduced by Rep. Michael O’Donnell on Jan. 4, would establish the Show-Me MyRetirement Savings Administrative Fund, a multiple-employer...
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The Pension Benefit Guaranty Corporation (PBGC) has issued a final rule adjusting civil penalties for failure to provide certain notices or other material information and for failure to provide certain multiemployer plan notices. The PBGC is required to amend its regulations annually to adjust...
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Amid a year filled with economic turmoil and a holiday season racking up credit card bills, Americans considering financial resolutions in the New Year are in good company, a new study suggests.
When looking back on 2022, nearly 9 in 10 (88%) Americans acknowledge room for improvement in their...
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A new survey once again highlighted a consistent regret among American workers.
According to the survey by American Century Investments, they wish they had saved more for retirement.
Now, only about a third shared that regret—but it was more than twice the number that had regrets about career,...
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The Pension Benefit Guaranty Corporation’s (PBGC) Office of the Participant and Plan Sponsor Advocate reports progress in 2022, but adds in its 2022 annual report that there is more to be done.
Payments to Participants
The Office of the Advocate reports that in 2022, the PBGC paid more than $7...
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This is the time of year when resolutions for the cessation of bad behaviors and the beginning of better ones are in vogue. Here are five for plan fiduciaries for 2023.
Develop a plan budget.
Most financially-focused New Year’s Resolutions focus on spending (less) or saving (more) — and the...
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There was a LOT going on this year — and you rewarded our hard work in bringing you the latest news and trends by clicking, sharing, and occasionally commenting on our content. What were the top five clicked-on stories of 2022?
Oddly, the fifth-most clicked on story of 2022 — was actually written...
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