Advertisement
Guaranteed Income
Slowly but surely, states are adopting programs to provide retirement plan coverage to people whose employers do not. The plans that are in place are growing in participation and assets, but what does an industry insider think?
To provide an idea of what a private-sector retirement plan service...
READ MORE
While most expect their standard of living in retirement to be about the same, or a little better than it is now, one regret (still) looms large.
According to new research by American Century Investments, 40% worry about running out of money in retirement, and half that many (18%) are concerned...
READ MORE
The Congressional Research Service (CRS) has just released reports on contributions to defined contribution plans and individual retirement accounts. Both show that participation and contributions generally were higher among older age groups.
The CRS issued the reports because it says that...
READ MORE
It may have been hot outdoors, but the AC was blasting on the funded status of the 100 largest private-sector pension plans in July, according to a recent report.
According to Milliman, assets for those DB plans grew in July—by more than $13 million—but that was overwhelmed by an even greater...
READ MORE
Private-sector pension plan finances lost ground in July, say recent reports; nonetheless, the news for 2021 overall remains good.
Cool in July
October Three, which tracks two hypothetical defined benefit plans—one that is invested in a more traditional way and another invested in a conservative...
READ MORE
The Department of Labor (DOL) issued registration requirements for pooled plan providers (PPPs) late in 2020. So how many registration filings have there been?
The DOL issued a final rule on Nov. 12, 2020 that established registration requirements for PPPs. PPPs have been able to operate pooled...
READ MORE
Geography is more than maps and topographic features—it also can suggest how much work there is to do in various regions and states to increase access to retirement plans and participation in them.
There is much data available concerning access to, and participation in, retirement plans in the...
READ MORE
The Office of the Inspector General (OIG) has called on the Social Security Administration (SSA) to further investigate some instances of overpayment of benefits.
Specifically, the OIG is concerned about Old-Age, Survivors and Disability Insurance (OASDI) beneficiaries whose benefits may have been...
READ MORE
The younger a person is, the higher the likelihood that they will be concerned about the effect of the pandemic on retirement security, recent research says.
Researchers at the National Institute on Retirement Security (NIRS) report in “Generational Views of Retirement in the United States” found...
READ MORE
The Connecticut Retirement Security Authority (CRSA) has announced the launch of a pilot of MyCTSavings, the state-run retirement savings program intended to provide coverage for private-sector employees whose employers do not offer them a plan. The pilot is slated to begin in September.
The CRSA...
READ MORE
Which is better? It depends! That’s the verdict from an industry insider who compared and contrasted the two in a June 29 session of the 2021 NTSA Summit.
“A vexing issue,” said Mark Heisler, CEO of ADMIN Partners, LLC, of the question. Not only that, he said, it is “probably the number one...
READ MORE
There is a broad array of plans from which an employer and plan sponsor can choose. In a 2021 NTSA Summit workshop session, an industry expert offered an overview.
Nathan Glassey, Vice President, National Benefit Services, set the table by looking at which employers can offer particular kinds of...
READ MORE
Sen. Patty Murray (D-WA), who is chair of the Senate Health, Education, Labor and Pensions (HELP) Committee, along with Rep. Lauren Underwood (D-IL), have reintroduced legislation to bolster and provide protection for women’s retirement security.
The Women’s Retirement Protection Act of 2021 (...
READ MORE
The Congressional Research Service (CRS) has released an updated version of its report concerning the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). It now includes discussion of bills that would affect both.
The updated version of “Social Security: The Windfall...
READ MORE
More than a year into the COVID-19 pandemic, finances continue to be a top cause of employee stress, even above job, health and relationship stress combined.
In fact, nearly two-thirds (63%) of full-time employees say their financial stress has increased since the start of the pandemic, PwC...
READ MORE
Employees who maintained a handle on cash flow and an emergency fund prior to 2020 fared best during the pandemic, leading many employers to add financial resiliency to their list of key focus areas for 2021, according to a new study.
Financial Finesse’s 2020 Financial Wellness Year in Review...
READ MORE
I was discussing the subject of retirement over the long holiday weekend with family.
There was a lot of talk about Social Security (or the looming lack thereof), the impact(s) of inflation, and how the markets (stock and housing) had boosted prospects, but ultimately decided we weren’t sure when...
READ MORE
Despite rising fears of inflation and market volatility, 401(k) participants were light traders and content to watch their balances rise, amid the strong market performance for the first half of 2021.
According to the Second Quarter 2021 Observations for the Alight Solutions 401(k) Index, trading...
READ MORE
The funded status of the 100 largest private-sector pension plans fell in the second quarter, according to a recent report.
According to Milliman, much of that was fueled by a sharp drop in June, a reversal of the trend of the previous months, Milliman says that from October 2020 to May 2021,...
READ MORE
Legislation that would recalibrate annual cost-of-living adjustments for Social Security has been introduced in the U.S. House of Representatives.
The “Fair COLA for Seniors Act of 2021” (H.R. 4315), introduced by Rep. John Garamendi (D-CA), would require Social Security to use the Consumer Price...
READ MORE