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Guaranteed Income
Individual retirement accounts generally show consistent growth, but differences do arise when comparing data samples, according to a new report from EBRI.For example, while the cross-sectional overall average balance increased 36.1% from 2010 to 2015, the increase for those IRA owners who...
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Missouri is the latest state whose legislature has before it a measure that would establish a state-run program for employees whose employers do not offer a retirement plan. State Rep. Kip Kendrick, D-Columbia, who also serves as Minority Whip in the Missouri House of Representatives, introduced...
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A year ago, the nonpartisan Employee Benefit Research Institute (EBRI) estimated that individuals might need as much as $350,000 to cover health expenses in retirement. You might want to sit down for the update.The headline in a new report from EBRI says that when it comes to health expenses in...
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New survey results find that Americans are confident that they are on track to achieve their long-term financial goals, but will that confidence continue in 2018?
According to the latest Investor Pulse Poll by Morgan Stanley, 91% of investors believe they are on track to achieve their long-term...
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While the new tax law avoided making major changes to the existing retirement tax provisions, the same cannot be said for the tax treatment of executive compensation and related provisions.
In the event you’ve been avoiding the news for the past two weeks, President Trump signed the Tax Cuts and...
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The Pension Benefit Guaranty Corporation (PBGC)’s Participant and Plan Sponsor Advocate, Constance Donovan, has sent the report on the activities of her office in 2017 to Congress. The report highlights its activities concerning participant claims, multiemployer plans, plan sponsor issues and...
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The time for setting goals and identifying new leaves to turn over has once again arrived. Resolutions ordinarily concern health, career and establishing better habits; however, a retirement planning firm suggests that retirement planning be among them and identifies resolutions toward which to...
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Before heading out for the holidays, President Trump on Dec. 22 signed into law (H.R. 1/P.L. 115-97) the most significant overhaul of the federal tax code since the Tax Reform Act of 1986.The $1.456 trillion net tax cut formerly known as the Tax Cuts and Jobs Act delivers major tax relief to...
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The Pension Benefit Guaranty Corporation (PBGC) has issued a statement on its regulatory — and deregulatory — priorities. The PBGC says that it intends these actions to promote clarity and reduce burden with the goal that net cost impact on the public is zero or less overall.
Most of the PBGC’s...
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The IRS has updated the Mortality Improvement Rates and Static Mortality Tables for Defined Benefit Pension Plans for 2019. The updated rates and tables are contained in Notice 2018-02.On Oct. 5, 2017, the Treasury Department and the IRS had amended Treas. Reg. §1.430(h)(3)-1 to revise the...
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Congressional Republicans and President Trump are on the verge of enacting broad-based tax reform legislation once the House of Representatives approves the legislation for the second time in two days.The House must again approve the Tax Cuts and Jobs Act (H.R. 1) after the Senate was forced to...
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Remember the Aesop’s fable about the tortoise and the hare, in which the slow but steady tortoise beats the faster but impetuous hare? A recent analysis argues Aesop was on to something regarding retirement planning, as well.In “When it Comes to Retirement Saving, Consistency Pays,” a piece...
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A recent blog post provides a helpful primer on using psychology and considerations of human behavior to help plan participants overcome the self-inflicted obstacles to effective 401(k) investing.
In “Using Behavioral Economics To Help 401k Participants,” Lawton Retirement Plan Consultants, LLC...
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House and Senate tax negotiators agreed on the final tax reform legislation Dec. 15, but they had to make some additional changes to pick up support from some wavering members. How did retirement plans fare?
Significantly, the retirement plan issues created by proposed tax changes affecting pass-...
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Seattle workers whose employers do not offer a retirement plan will have access to one through the city if a proposal by Mayor Jenny Durkan (D) is enacted.On Oct. 10, then-Mayor Tim Burgess (D) had sent legislation to the Seattle City Council to establish the Seattle Retirement Savings Plan (SRSP...
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Americans rate the tax incentives for employer-sponsored retirement savings and health insurance coverage as the most important tax benefits compared to other popular deductions and incentives, according to new polling data.The polling data was released by the American Benefits Council as part of...
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House Ways & Means Committee Chairman Kevin Brady (R-TX) announced Dec. 8 that conferees from the House and Senate will hold an open meeting on Wednesday, Dec. 13 to begin the process of reconciling the two chambers’ versions of tax reform legislation.Last week, the House and Senate both...
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It’s no secret that defined contribution plans have been gaining ground at the expense of defined benefit plans. And there certainly is no dearth of explanations for that trend. A recent blog entry discusses some of the challenges that are causing employers and plan sponsors to think longer and...
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Employers in the healthcare industry, it seems, are not immune from some of the macro trends concerning retirement plans. A recent study that takes the temperature of that segment’s retirement plans finds chills as well as robust conditions much like those in other industries.
In “The Path to...
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The headline of a recent article didn’t pose that as a question. And that should make you think.The article, penned by a not-yet-30-year old, was mostly negative on the nation’s primary private retirement savings vehicle, but to my read, that wasn’t her fault. Rather, it was the net result of the...
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