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Guaranteed Income
Legislation establishing a retirement savings program for private sector entities in New York City that includes recommendations from the ARA has been sent to the mayor’s desk for his signature.
The New York City Council approved an amended bill (Int. No. 888-A) on April 29 to create a mandatory...
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The Pension Benefit Guaranty Corporation (PBGC) has updated its Pension Insurance Data Tables by providing the first installment of 2019 data concerning its Single-Employer and Multiemployer Programs and the private defined benefit pension system.
Highlights of information from this installment...
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An important decision, made in minutes.
No, that’s not retirement plan savings—though various consumer surveys have suggested that many spend more time mapping out their annual vacations than how they’ll fund their retirement needs.
Rather, that’s how a new white paper by Voya’s Thought...
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Positioning it as a way to reward work and not wealth, President Biden has released an outline of his tax reform plan that includes a capital gains tax increase, as well as increases to high-income earners.
The tax reform plan was released this morning as part of the American Families Plan to...
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A legislative proposal has reemerged in Congress seeking to use proceeds from a tax that would hit retirement savings to pay for making public colleges and universities tuition-free.
Sen. Bernie Sanders (I-VT), chairman of the Senate Budget Committee, and Rep. Pramila Jayapal (D-WA), on April 21...
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The Pension Benefit Guaranty Corporation (PBGC) has launched a new version of the My Plan Administration Account (My PAA) premium filing application. It became operative April 26 and is ready to accept electronic premium filings for plan years beginning in 2021.
The updated version of My PAA...
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CalSavers, the retirement plan the state of California provides for employees whose employers do not provide one, showed growth in many areas in March. The growth, however, was more modest by some measures than that in February.
The CalSavers Retirement Savings Board reports that the number of...
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The COVID-19 pandemic has reshaped the ways in which many investors are spending and saving their money, but one priority that has not changed all that much: preparing for retirement.
Among those who had previously determined when they would retire, 69% of them said their goal has not changed...
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The next deadline for registering with CalSavers, the state-run retirement plan for employees in California whose employers do not offer a retirement plan, is less than two months away. Employers with 50 or more employees have until June 30, 2021 to register.
“As the California economy recovers...
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The implementation deadline for the Land of Enchantment’s retirement plan marketplace and the state’s Work and Save IRA program has been extended to July 1, 2024.
Background
On Feb. 26, 2020, Gov. Michelle Lujan Grisham (D) signed the New Mexico Work and Save Act into law, creating the New...
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On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (ARPA) which included significant single employer defined benefit plan interest rate stabilization/funding relief.
The changes to ERISA DB funding requirements in ARPA were the culmination of a policy project...
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Teresa Ghilarducci has both a “new” proposal and a new collaborator and—I hope you’re sitting down—I actually agree with her.
Well, partly anyway.[1]
Her new proposal is—as a recent op-ed in the Washington Post puts it—“Everyone should have the retirement plan federal employees enjoy.”...
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Fueled by strong market gains in the second half of 2020, a recent report finds that health savings account (HSA) investment assets soared to nearly $24 billion at the end of 2020.
The results of Devenir’s 21st semi-annual health savings account survey and research report reveal that the number...
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The pending legislation would make Virginia the next state to offer a state-run retirement plan for workers who do not have access to a plan through their employer.
The VirginiaSaves bill was passed by the Virginia General Assembly in late February and sent to Gov. Ralph Northam (D) in March....
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The season and the clocks are not the only things that advanced in March, according to recent reports that show that private-sector pension plan funding warmed.
Pension plan funding ratios and funded status improved for the month as well as for the first quarter, according to actuarial firm...
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Institutions of higher learning face many challenges—among them the impact of the pandemic—in helping employees to prepare financially for retirement. A recent white paper looks at what those schools are doing.
In “Lessons Learned on the Management of Higher Education Retirement Plans in...
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While most Americans report that the pandemic has pushed their retirement plans back by several years, many also express a cautious optimism and are making changes to improve their retirement preparedness.
According to Fidelity Investments’ 2021 State of Retirement Planning Study, more than 8 in...
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The Pension Benefit Guaranty Corporation (PBGC) has rescinded a final rule it issued last August on procedures for PBGC guidance documents.
The PBGC took this action in accordance with President Biden’s Executive Order on Revocation of Certain Executive Orders Concerning Federal Regulation issued...
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The Pension Benefit Guaranty Corporation (PBGC) wants to make changes to its quarterly survey of nonparticipating single premium group annuity rates. The agency announced on March 31 that is seeking the Office of Management and Budget’s (OMB) approval of the proposed changes.
The PBGC’s...
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With the multiemployer relief legislation cleared from Congress’ docket, look for policymakers to turn to efforts to expand retirement plan coverage, ARA staff explained during a March 23 NAPA webcast.
Will Hansen, Chief Government Affairs Officer at the American Retirement Association, and...
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