Advertisement
Guaranteed Income
The Pension Benefit Guaranty Corporation (PBGC) has announced that it is changing the way provides relief when a disaster happens. The PBGC often grants relief from certain obligations and deadlines when disasters occur.Previously, the PBGC granted relief through stand-alone announcements each time...
READ MORE
For younger employees, setting aside money for retirement can take a back seat to the more immediate need to pay off student loan debt — a choice that can have long-term consequences. But at Abbott Laboratories, a new benefit provides some relief from that uncomfortable position.
Abbott announced...
READ MORE
Massachusetts Secretary of the Commonwealth William F. Galvin has charged MetLife with making misleading statements relating to its failure to make pension payments to hundreds of Massachusetts retirees.The complaint filed by Galvin’s office alleges that MetLife’s public filings contained material...
READ MORE
One of my favorite cinematic quotes is from that Clint Eastwood classic, “Dirty Harry.”It comes at the very beginning of the movie — there’s a bank robbery in process, and Clint Eastwood (in the personage of Inspector “Dirty” Harry Callahan) is trying to wolf down a hot dog when the commotion...
READ MORE
You may have missed it, but there was a bit of a “twitter storm” regarding retirement recently.More specifically, a relatively innocuous post about how much a 30-year-old should have saved toward retirement got a lot of 35-year-olds stirred up. The CBSMarketwatch article quoted Fidelity as saying...
READ MORE
Several weeks back, I was invited to participate in a group conversation on retirement and the future of prosperity.
The group of 15 (they’re listed at the end of the document that summarized the conclusions) that Politico pulled together was diverse, both in background and philosophies, and...
READ MORE
A new report forecasts how the innovations brought on by the Pension Protection Act will continue to evolve, foreseeing a DC industry that takes on some of the traditional features of the DB industry.
In its 250th issue of The Cerulli Edge – U.S. Asset and Wealth Management Edition, Cerulli...
READ MORE
Recently, the Wall Street Journal’s Anne Tergesen wrote a story titled, “Mixed Bag for Auto-enrollment.” Citing data presented at the recent EBRI Policy Forum,1 the article claimed that “employees who are automatically enrolled in their workplace savings plans save less than those who sign up on...
READ MORE
Financial readiness for retirement improved in 2017, but there still is room for improvement, say recently released studies.
In its 2017 Year in Review, Financial Finesse looks at employer financial wellness programs and their results. Among the gauges it reports on is financial readiness for...
READ MORE
The Pension Benefit Guaranty Corporation (PBGC) expects that its insurance programs will have sharply different results. In its FY 2017 PBGC Projections Report, which provides long-term financial projections for its single-employer program and multiemployer program, the PBGC anticipates that the...
READ MORE
This is auto-enrollment’s day in the sun. Widely lauded as a low-cost, low-impact solution for savings rates and behaviors that could use a boost, it’s easily regarded as a panacea. But a recent blog post suggests that it may not be.In “The Dirty Little Secret of Auto-Enrollment?” a post on Cammack...
READ MORE
A measure before the Senate would create a Commission on Retirement Security. S. 2753, The Commission on Retirement Security Act of 2018, would establish a federal commission to review private retirement benefit programs and report to Congress on how to improve private retirement security in the...
READ MORE
Gains in access to DC plans were offset by lower rates of access to defined benefit plans, but overall younger workers saw some improvements, according to a new study using data from 1998 to 2012.Using data from the U.S. Census Bureau Survey of Income and Program Participation (SIPP), the Pew...
READ MORE
New survey results reveal a variety of differences by generation and other demographic factors pertaining to perceptions and concerns about retirement savings strategies.
Now in its 7th year, Franklin Templeton Investments’ annual Retirement Income Strategies and Expectations (RISE) survey finds...
READ MORE
The glass is half full — or half empty — regarding retirement saving levels, depending on who one listens to. A recent white paper takes a look not only at how employees are doing, but also the habits that can help in achieving greater financial security in retirement.
In the white paper “Scoring...
READ MORE
Rarely a week goes by that a headline, survey or academic paper doesn’t proclaim the reality of a retirement crisis with the certainty generally reserved for topics like the existence of gravity, or the notion that the sun will rise in the east.And certainly based on the data cited, there would...
READ MORE
The Plan Sponsor Council of America’s 2018 Annual Conference May 1-2 featured the insights of experts on issues critical to retirement plan sponsors and industry professionals.Retirement readiness, best practices in serving plans and running a plan and practice, industry and regulatory developments...
READ MORE
The Pension Benefit Guaranty Corporation (PBGC) plans to ask the Office of Management and Budget (OMB) for its approval of a revision to a form used in information collection that enables the PBGC to pay benefits to participants and beneficiaries.The PBGC seeks to revise Form 715, the Power of...
READ MORE
President Trump has announced his intention to nominate a new head of the nation’s private pension plan insurer.
The announcement said that President Trump plans to nominate Gordon Hartogensis to be Director of the Pension Benefit Guaranty Corporation (PBGC).
If confirmed, Hartogensis would...
READ MORE
Pundits have long worried that retirees wouldn’t have accumulated enough to live on in retirement, but the data suggests that most retirees aren’t exactly burning through their retirement savings.I remember my one and only conversation with my father about retirement income. He had already decided...
READ MORE