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Guaranteed Income
In a marked turnaround, the Pension Benefit Guaranty Corporation (PBGC) reports that the solvency of both its insurance programs—the single-employer program and the multiemployer program—is improving.
The report marks a continuation of the growing solvency of the single-employer program, but a...
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This is a pretty exciting time in the defined contribution plan marketplace. Years of work from a number of different quarters seem to be finally beginning to coalesce around the notion of sanely “decumulating” assets from DC plans. I wonder if a measure of all this may be the growing catalog of...
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Beginning this year, Social Security expenditures will exceed total revenues—and that trend will hold for the rest of the 21st Century, according to an updated report by the Congressional Research Service (CRS).
In its most recent Social Security Primer, updated Sept. 15, 2021, the CRS reports...
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The Pension Benefit Guaranty Corporation (PBGC) issued a final rule Sept. 14 that amends 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 2021. These...
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Starting Oct. 1, 2021, reportable events filings can only be made to the Pension Benefit Guaranty Corporation (PBGC) electronically. The PBGC issued a reminder on Sept. 15.
Reportable event filings (Form 10, Form 10-Advance, and Form 200) will need to be prepared and submitted using the PBGC’s e-...
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There was good news for private-sector pension plans in August by a variety of measures, several reports indicate.
Liabilities and Assets
Liabilities rose slightly in August, says Willis Towers Watson. But only very slightly—they report that the liability implicit in their pension index...
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The retirement provisions in the Democrats’ Build Back Better (BBB) legislation could create the biggest influx of plans and participants in the history of the retirement industry, industry leader Brian Graff believes.
Graff, CEO of the ARA and Executive Director of NAPA, made his remarks at the...
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Retirement savings—in an IRA, a 401(k) plan, or a defined benefit plan—is, in the end, a project that involves turning present income, via savings and investment, into future income. As such, it inevitably involves the capital markets. And, indeed, it is often hard to sort out whether any...
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With Congress set to consider legislation implementing automatic retirement arrangements, a new report by Smart maintains that the legislation will enhance retirement security and be simple for small employers to comply with.
Smart is a global fintech firm that offers recordkeeping platforms for...
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Most employers in the Beaver State that do not offer a retirement plan must register with OregonSaves, the state-run retirement program. So how do things stand with the program in the last year?
Registrations and Assets
The program’s phased-in registration deadlines were Nov. 15, 2017 for...
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Nearly 8 in 10 employers did not report any out-of-pocket (OOP) costs associated with participating in the program.
Of course, one of the selling points of OregonSaves, the state-run retirement program for employees whose employers do not offer one, is that it spares employers the administrative...
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I was recently taken to task for my recent column about retirement savings regrets.
More precisely, my column about the regrets expressed in a recent American Century survey drew the attention of Faith Teope in a LinkedIn post titled, “Dear Finance Experts: We Would Listen, But We Don't Care.” In...
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While employees struggled with their personal finances during the COVID-19 pandemic, a recent survey finds that the financial impact on organizations is even greater.
According to results from BrightPlan’s annual Wellness Barometer Survey, financially stressed employees reported an average of 15.3...
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The pandemic has had a host of effects, one of which is an uptick in voluntary early retirements. In a recent analysis, two communication consultants offer some tips on running a voluntary early retirement program.
In a case study about communicating such a program, two consultants at Milliman—...
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ASPPA traditionally offers access to a recording of a webcast (including both audio and visual portions of the presentation) approximately one week following the original live webcast presentation. These recordings are available for 1 year after the date of the original live webcast. Below is a...
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The Department of Labor reportedly is engaging in a letter-writing campaign urging retirement plan fiduciaries to recoup amounts held by former recordkeepers or paying agents that may have been overlooked during the transition of a service provider relationship.
According to an Aug. 13 blog post ...
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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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Sens. Todd Young (R-IN) and Cory Booker (D-NJ) have reintroduced several bills to help boost retirement security for individuals and families.
Citing data by the U.S. Department of Labor showing that more than 40 million people do not have access to any workplace retirement plan, the pair...
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If there’s one good thing to come from the pandemic, it’s that Millennials and Generation Z apparently are more focused on saving for retirement, according to new research.
Findings from a new Voya survey reveal that nearly half (41%) of Millennials have been negatively affected financially by...
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My wife and I recently celebrated our wedding anniversary—it was a “big” one, one of those that almost takes your breath away thinking about how rich your life together has been.
If someone had asked on my wedding day if I thought I’d still be alive and married this many years hence, I’m sure that...
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