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Guaranteed Income
The Pension Benefit Guaranty Corporation (PBGC) has issued the present values of its maximum guarantees for 2019.
The values apply to benefits with annuity starting dates in 2019. The values for the 2019 table were developed using the Internal Revenue Code Section 417(e) segment rates for August...
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The Office of Management and Budget (OMB) has issued a comprehensive report on the regulatory agenda of the Pension Benefit Guaranty Corporation (PBGC) for fall 2018.
Proposed Rules
The OMB lists the following as proposed rules the PBGC is now considering:
Valuation Assumptions and Methods:...
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In his most recent blog post about best practices, ERISA attorney Fred Reish explores retirement income projections as a way to better serve plan participants.
Reish explains why he includes retirement income projections among the best practices he suggests for plan sponsors. “Best practices are...
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The Pension Benefit Guaranty Corporation (PBGC) has set flat-rate and variable rate premiums for 2019.
Flat-Rate Premiums
The per-participant flat-rate premium for plan years beginning in 2019 is $80 for single-employer plans (up from the $74 2018 rate and the $69 2017 rate) and $29 for...
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Many countries consistently receive high rankings for their retirement systems, but does that mean they also have the happiest participants? A new report delves deeper into the drivers of happiness in the context of retirement and finds that that’s not necessarily the case.
State Street Global...
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With a 20-year history, many Americans have heard of the Roth IRA and its benefit of taking tax-free withdrawals during retirement. Some have heard of the Backdoor Roth — making nondeductible contributions to traditional IRAs and converting them to Roth IRAs. A new Roth savings strategy, being...
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The tail end of hurricane season — and more specifically the disastrous flooding of Hurricane Florence — brins to mind my last serious brush with nature’s fury.
It was 2011, and we had just dropped our youngest off for his first semester of college in North Carolina, stopped off long enough in...
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ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts and events.
Live Webcasts
ASPPA Webcast: Operating Under the IRS Pre-Approved Plan Document Program
Tuesday, October 30, 2018
2:00 - 3:40 p.m. ET
Speaker: Richard...
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Legislation has been introduced in the U. S. House of Representatives that would create a parallel government-run retirement savings program – and one that could undermine the 401(k), particularly for small business owners.The Portable Retirement and Investment Act of 2018 (H.R. 6990), just...
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The Oregon Retirement Savings Board (ORSB) on Oct. 9 will consider proposed changes to the rules for OregonSaves, the state-run retirement savings program for private-sector workers in the Beaver State.The proposed rule changes were drafted with the assistance of a rulemaking advisory committee...
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Just when you thought retirement plan projections couldn’t get any worse…
Last week the National Institute on Retirement Security released a report – “Retirement in America | Out of Reach for Most Americans?” that claimed that the median retirement account balance among all working individuals is...
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Gordon Hartogensis, President Trump’s nominee to serve as Director of the Pension Benefit Guaranty Corporation (PBGC), testified and answered questions at a confirmation hearing the Senate Finance Committee held on Sept. 27. Senators questioned Hartogensis regarding his views on the health of the...
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A recent white paper discusses a strategy for reducing PBGC premiums and why it may have a cost of its own.
In “PBGC Staff Express Concern Over Premium Reduction Strategy,” Daniel Lennington, Director of Defined Benefit Advisory for Lockton Insurance Services, notes that some plans have adopted a...
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Recent survey results reveal that a majority of workers believe that financial wellness programs could help increase their productivity.According to a new report by the Employee Benefit Research Institute (EBRI), “Perceived Helpfulness of Financial Well-being Programs: Results from the 2017 and...
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Step inside the chamber, and we will gaze at the crystal ball. ASPPA’s Sept. 11 invitation offered a look at seven trends in the retirement industry that will have a significant impact — and, in fact, already are.
In “Didn’t See THAT Coming: Seven Industry Trends Will Shape the Future,” American...
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Is it appropriate for traditional life insurance to be connected with retirement plans? A feature article that appeared in the Summer 2018 issue of Plan Consultant magazine offers a refresher on split-funded funds and the interaction between retirement plans and life insurance.“Delicate Interaction...
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The Pension Benefit Guaranty Corporation (PBGC) is issuing rules to implement its authority to facilitate mergers and transfers between multiemployer pension plans, the agency announced on Sept. 13. The final regulation updates the general requirements on plan mergers and transfers of plan assets...
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Several years back, I was talking with a colleague about the current state of the U.S. economy – and as a comparison point, I pointed to the mid-1980s.“I wasn’t even born then,” she said. At which point I realized that what I considered to be a relevant point of comparison was, to my coworker,...
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Multiple employer plans (MEPs) are very much a part of the recent discussion. But while President Trump’s Aug. 31 executive order gives a boost to MEPs, that doesn’t mean they’re an innovation of 2018. A recent white paper from Pentegra takes a look at their history, where they stand now, and what...
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Over the coming weeks, a question that you’re likely to see posed (again and again) about the President’s Executive Order is – “will it work?”“Work” in this case means to expand access to workplace retirement plans, for that is the stated policy of the Trump administration in issuing the order.The...
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