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Guaranteed Income
As planned, another state-run IRA program for private sector workers has launched—with some good news for early employer adopters.
The announcement notes that while the services are free for businesses, employers that enroll with MarylandSaves by December 1st of this year won’t have to pay the...
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With recent volatility in the markets altering perceptions around what it means to have a secure retirement, a new survey finds that more Americans are interested in having a guaranteed stream of retirement income.
According to a new joint poll from Kiplinger and Athene, three-fourths of...
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Recently, we showed how the percentage of retirement savings from a worker’s paycheck required to finance an adequate retirement had — for a worker retiring in 2021 — gone up over 50% vs. the amount of a paycheck a worker retiring in 2000 had to save.
In this...
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As the dust settles from the pandemic and we take stock of the debris, it’s instructive to consider how it affected retirement saving and retirement accounts. A recent study looks at that, and adds an historical perspective that also looks at the effects of another recent significant disruption. —...
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The Pension Benefit Guaranty Corporation (PBGC) on Sept. 14 issued a final rule, amending its regulation on Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the asset allocation regulation for plans with valuation dates in the fourth quarter of 2022. The...
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August brought mixed results for private-sector pension plans, say several reports. They note that there was progress by some measures, but regression by others.
There was some good news, according to Matthew Klein, Vice President & Senior Consulting Actuary at USICG, who in the Pension...
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Legislation that would create Massachusetts Secure Choice, a state-run retirement program that would provide coverage for private-sector employees whose employers do not offer a retirement plan, is now before the Rules Committees of both chambers of the Bay State’s legislature.
The legislation was...
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The pilot of the Colorado SecureSavings, the Centennial State’s state-sponsored retirement savings program for those whose employers do not offer a retirement plan, will launch in October.
The pilot will not be broadly open; the Colorado Secure Savings Board is set to work with a select group of...
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Summer heat held in August — not only for California, but also for its state-run retirement plan. The CalSavers Retirement Savings Board, which administers CalSavers, reports that by many measures strong growth remains consistent.
Some of the growth reflects the June 30, 2022 deadline for...
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A recent report—and a new wave of litigation—reminds us that all target-date funds are not designed the same.
We all know that target-date funds are different, even if their names sometimes suggest otherwise. Different management teams both set and monitor asset allocations—allocations that can...
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CalSavers, the state-run program that provides retirement plan coverage to private-sector employees whose employers do not, will cover nearly all such employees in the Golden State. Gov. Gavin Newsom (D) on Aug. 26 signed legislation further expanding the program.
S. 1126 expands the definition...
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The Pension Benefit Guaranty Corporation (PBGC) has modified the way that users can log in to My PAA, an app they can use to perform a variety of functions and meet a number of requirements.
On August 22, 2022, the PBGC modified My PAA to enable users to log in to it via Login.gov. To do so, one...
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As if there wasn’t enough to worry about regarding retirement—a new research paper suggests we’re not worrying about the “right” things.
More precisely, that paper, published by the Center for Retirement Research at Boston College, was titled, “How Well Do Retirees Assess the Risks They Face in...
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It may not be the first in this instance, but the First State has joined its sisters that provide retirement plan coverage to employees whose private-sector employers do not.
Gov. John Carney (D) on Aug. 18 signed into law HB 205, the measure that creates the Delaware Expanding Access for...
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CalSavers was formally launched three years ago. But that doesn’t take place in a vacuum — it necessarily entails interactions with employers as well as individual participants. So how is that going?
Registrations were phased in based on employer size. Employers with more than 100 employees were...
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Expanding the scope of CalSavers is one step closer to happening. The state Assembly has passed a measure that would do so.
S. 1126, a measure that would expand the definition of “eligible employer” for purposes of the CalSavers Retirement Savings Trust Act—the measure that establishes the...
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While inflation is causing a significant amount of stress and anxiety, a new survey finds that most American investors remain committed to their long-term financial goals.
In the past 12 months, rising inflation has caused the greatest proportion of investors (51%) to curtail discretionary...
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Pension plan terminations and pension risk transfers (PRTs) increased in the first half of 2022, says a recent report.
In fact, says Aon, there was “record” activity in the first half of 2022—an increase in not only plan terminations, lift-outs and buy-ins over those of the same period one year...
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Like a rising summer thermometer, CalSavers’ registrations, accounts and assets have been climbing higher. And the CalSavers Retirement Savings Board, which administers the state-run retirement plan for employees whose employers don’t offer one, reports that by many measures the growth has been...
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July can be depended upon to bring some heat to the United States, and 2022 did not disappoint—and that included private-sector pension plans, according to recently released figures.
Funded Status
July brought good news according to October Three, which tracks two hypothetical pension plans—one...
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