Advertisement
Guaranteed Income
Less than two months remain for employers with five or more employees in the Golden State to register with CalSavers, the state-run retirement plan for those whose employers do not offer one.
CalSavers, enacted in 2012 but not launched until July 1, 2019, has required employers to either begin...
READ MORE
Perhaps because of the recent full moon, the nation’s 401(k) “haters” were out in force.
Yes, last week we were “treated” to a Bloomberg op-ed with ideas on how to “fix” America’s broken retirement savings system, a back-handed compliment (of sorts) on SECURE 2.0 in Forbes from Teresa Ghilarducci...
READ MORE
A trio of Democratic senators has reintroduced legislation focused on providing information to participants affected by a pension buyout.
The Information Needed for Financial Options Risk Mitigation (INFORM) Act of 2022 was reintroduced by Sens. Patty Murray (D-WA), Chair of the Senate Health,...
READ MORE
Discount rates increased in the first quarter, say two reports that indicate positive trends for private-sector pension plans.
According to Milliman, average accounting discount rates increased by 35 basis points (bps) in March, says Milliman. This is part of a longer trend, says Insight...
READ MORE
Vestwell has been selected as the vendor that will administer the Colorado Secure Savings Program and New Mexico Work and $ave, the state-run retirement plans that provide retirement plan coverage for employees in those states whose employers do not.
Vestwell announced that it won a competitive...
READ MORE
The IRS has announced the health savings account (HSA) limits for 2023. The announcement came in IRS Revenue Procedure 2022-24.
HSA Limits
For calendar year 2023, the annual limitation on deductions under Internal Revenue Code Section 223(b)(2)(A) for an individual with self-only coverage under...
READ MORE
OregonSaves, the state-run program which provides employees in the Beaver State with retirement benefits if their employers do not, was the first such program to begin operating in the United States. A recent study assessed how well it is doing, and researchers have some good news for its advocates...
READ MORE
CalSavers, the program in the Golden State that provides retirement plan coverage for those whose employers do not, has been in operation for three years now. Employers have a key role in how the program works; how are they responding?
CalSavers was launched in 2019, and the first of three waves...
READ MORE
In the northern hemisphere, at least, March is a month of increasing growth and emerging life. Private-sector pension plans picked up the tone and had a good month, say reports.
Investment returns grew, discount rates rose, liabilities fell and funded status improved, according to four analyses...
READ MORE
New Jersey Secure Choice, the state-run program that is to provide retirement plan coverage for employees whose employers do not offer a retirement plan, is not yet operational. So says the website of the Secure Choice Savings Board, last updated on April 7.
This marks continued delay in its...
READ MORE
The shift from defined benefit to defined contribution plans affects different generations in different ways. A recent blog entry looks at one generation in particular and their views on the trend.
The Baby Boom generation—whose members were born roughly between 1945 and 1964—is perhaps the one...
READ MORE
Autoenrollment is regarded by many as a tool that is of key importance in increasing retirement savings. A recent study by the Congressional Budget Office (CBO) emphasizes just how effective it can be.
In “The Effect of Employer Matching and Defaults on Workers’ TSP Savings Behavior,” a...
READ MORE
The House of Representatives’ overwhelming passage last week of the Securing a Strong Retirement Act (H.R. 2954, a.k.a SECURE 2.0) helps set the stage for action by the U.S. Senate later this year, Brian Graff explained at the April 3 opening session of the 2022 NAPA 401(k) Summit in Tampa, FL.
“...
READ MORE
With past behavioral economics research demonstrating that nudges can be a potent tool for increasing savings rates, the results of a recent study suggest that fresh start framing can be an effective nudge.
In “Using Fresh Starts to Nudge Increased Retirement Savings,” John Beshears of Harvard...
READ MORE
Funded status of defined benefit plans may generally be at a higher level than in years past, but it has been a bit of a yo-yo for an extended period. During volatile, uncertain times, argues an investment management firm, asset allocation takes on heightened importance—and it examines the...
READ MORE
Our industry often seems to treat participants like children who can’t make big decisions—but a recent research paper suggests they might make better choices if we expanded their perspective.
The paper, intriguingly titled “Financial Wellness Meets Behavioral Economics,” highlights a behavioral...
READ MORE
Connecticut Comptroller Natalie Braswell announced March 24 the launch of MyCTSavings, the state-run retirement savings program intended to provide coverage for private-sector employees whose employers do not offer them a plan. A pilot was launched in September 2021.
MyCTSavings is mandatory for...
READ MORE
Defined contribution plans have been on the rise for decades, while the converse is true for defined benefit plans. That has many consequences, and a recent paper points out that another one of them is the way decumulation takes place.
In “Can the Drawdown Patterns of Earlier Cohorts Help Predict...
READ MORE
The rules for required minimum distributions (RMDs) apply to a variety of retirement plans and accounts and their participants and holders. Some are the same for IRAs and defined contribution plans, but they are not all the same. Following is a look at the differences and the similarities.
...
READ MORE
The Congressional Research Service (CRS) has updated its report on the age for claiming Social Security retirement benefits. The report provides a discussion of some current trends concerning and affecting that threshold.
The full retirement age (FRA)—the age at which workers can first claim full...
READ MORE