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Guaranteed Income
Plan design can influence and equip plan participants to make better choices regarding distribution, a recently released report concludes.In “Design Matters: Plan Distribution Options,” the Defined Contribution Institutional Investment Association (DCIIA) examines distribution options and discusses...
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It is a question that has puzzled philosophers and scientists for centuries: which came first – the chicken or the egg? Similarly, an updated version of a classic survey of retirement confidence finds some interesting attributes among those who are more confident about their prospects – but are...
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If you’re a young Millennial, can you imagine what you and the world will be like when you’re 80? To get a better sense, a new study examines how the largest generation in the current U.S. workforce envisions progress over the next 50 years.Being at the center of changes being driven by technology...
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Private-sector defined benefit plans made “significant” funding improvements in 2017, say recent studies. But the good news doesn’t stop there.
Milliman, in its 2018 Corporate Pension Funding Study, bases its findings on an analysis of the financial disclosures of the 100 largest corporate DB plan...
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The Maryland Small Business Retirement Savings Program and Trust, which provides retirement plan coverage for employees in the Old Line State whose employers do not offer retirement plans, now has an executive director and CEO.
David Belnick, who had served as Program Director at Nationwide...
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The Illinois Secure Choice Savings Program, a retirement savings vehicle for private sector employees in Illinois who do not have access to an employer-sponsored plan, is now being tested by employers that volunteered to participate in a pilot program. Illinois State Treasurer Michael W. Frerichs (...
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A recent analysis offers a fresh take on how to motivate individuals to save for retirement: wed technology and behavioral economics.
In “How Digital Tools and Behavioral Economics Will Save Retirement,” an article published in the Harvard Business Review, Shlomo Benartzi, Professor of Behavioral...
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A majority of U.S. investors have not calculated how much income they will need while they are retired and how much their retirement accounts will generate for them, says a recent study.According to the Wells Fargo/Gallup Investor and Retirement Optimism Index survey, most investors who have not...
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Longevity generally is increasing. But some of those rays of golden sunshine can be clouded due to the instability of the retirement saving atmosphere. A recent blog entry offers some ideas on how those clouds may be dispelled.In “Income to Last a Lifetime,” the April 2018 edition of its Essential...
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Have Americans accepted a shift in responsibility for their own retirement security? A new study by MetLife seems to indicate that they have.In the firm’s “Role of the Company” survey of more than 1,000 U.S. workers, 54% said that individuals are primarily responsible for their own retirement...
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Enactment of the Retirement Enhancement and Savings Act (RESA) would be an important step in encouraging employers to offer DC plans and to expand access to various retirement savings options, panelists at a Capitol Hill retirement policy forum have suggested.The April 11 forum, sponsored by the...
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One of the more memorable vacations of my youth was one that was just me, my younger brother and my grandparents. It was a driving vacation, one that had limits only in terms of its beginning and end. There was no agenda, no place we had to be at a particular time, and — at least according to my...
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The title of a new report by the Society of Actuaries poses an intriguing question: “Retirement Adequacy in the United States: Should We Be Concerned?”
When all is said and done, the answer from the report’s authors seems to be “it depends.”
And, as it turns out, it depends on a lot of things:...
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A majority of U.S. workers hold debt in addition to their mortgages, and that’s a problem regarding financial security during retirement, says a recent study. It found that this debt is hurting its holders’ ability to save for retirement.LIMRA reports in "Danger Ahead? Impact of Debt on Retirement...
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The Pension Benefit Guaranty Corporation (PBGC) issued guidance on April 3 to assist multiemployer pension plans that request its review of alternative plan rules for satisfying employer withdrawal liability. The guidance explains the PBGC’s review process, the information needed and factors it...
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Wyoming Gov. Matthew H. Mead (R) has signed legislation (WY SF 116) creating a retirement income security task force to study the Equality State’s retirement preparedness and retirement savings programs — and the possibility of creating a state-run retirement plan for private-sector workers.The...
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Employers are taking steps to improve the financial well-being of their workforces — but there’s evidence that some of their efforts could actually be creating more financial stress for workers.A new report from the nonpartisan Employee Benefit Research Institute (EBRI) notes that move toward...
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The IRS on March 15 issued a reminder that the retirement plan participants and holds of IRAs and IRA-based plans who attained age 70½ during 2017 must starting receiving required minimum distributions (RMDs) by April 1, 2018.The deadline applies to all employer-sponsored retirement plans,...
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Another state-run IRA retirement plan for private sector workers is gearing up to go live.The investment board for California’s Secure Choice program (now renamed “CalSavers”) has approved final regulations and authorized its staff to search for a company to administer the program, according to the...
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The Joint Select Committee on Solvency of Multiemployer Pension Plans, the bipartisan, bicameral body created by the Bipartisan Budget Act to look for ways to improve the solvency of multiemployer plans, held its first meeting on March 14. It was an organizational business meeting to consider...
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