Guaranteed Income

By ASPPA Net Staff 10/4/2017

A bipartisan group of U.S. Senators and Representatives on Oct. 3 announced that they are introducing legislation to protect the pensions of retired miners. All hail from states where there is heavy mining activity.Sens. Joe Manchin (D-WV) and Shelley Moore Capito (R-WV) have introduced the Senate... READ MORE

OregonSaves Coverage Increases

By John Iekel 10/2/2017

OregonSaves, the state-run retirement run by the Oregon Retirement Savings Board, now covers more than 2,000 employees. The state Treasury has provided a report on the status of the program as it approaches full implementation. The OregonSaves pilot program expanded in August and September and now... READ MORE

Industry Leaders: Build on Existing Framework to Address ‘Challenges’

By Ted Godbout 9/29/2017

Retirement industry leaders appearing at a recent Capitol Hill event generally agreed that building on the existing system would dramatically improve the retirement readiness of Americans throughout the country.In what turned out to be coincidental timing, the Financial Services Roundtable hosted a... READ MORE

Are We Saving Too Much?

By John Iekel 9/28/2017

Warnings about the need to save more for retirement are ubiquitous — and for good reason. So a suggestion that challenges this premise will raise more than a few eyebrows. And hackles. Yet that’s precisely the suggestion Matthew Heimer makes in “Americans Are Saving More for Retirement: Are They... READ MORE

Employee Engagement a Better Financial Wellness Metric, Study Says

By Ted Godbout 9/28/2017

Suggesting that it’s time to change the return-on-investment (ROI) conversation with respect to financial wellness programs, a recent paper contends that a more effective way to prove a program’s value is by measuring employee engagement.Ernst & Young explains that creating a suite of benefits... READ MORE

Is Rothification Off the Table?

By ASPPA Net Staff 9/28/2017

Rothification may not be on the table — yet — but the GOP’s tax reform outline includes a potentially nasty surprise for small business retirement plans. Those taking a public stand against the so-called “Rothification” of 401(k)s yesterday included Rep. Richie Neal (D-MA) and Sen. Tim Scott (R-SC... READ MORE

Legislation to Expand Hurricane Relief Emerges

By Ted Godbout 9/25/2017

Congress has released draft legislation consistent with recent recommendations by the American Retirement Association to expand access by victims of Hurricanes Harvey, Irma and Maria to their 401(k) and similar plans without incurring IRS penalties and taxes.The draft legislation, currently named... READ MORE

Partial Lump Sum Social Security Option: More Expensive Sooner than Later

By John Iekel 9/21/2017

A proposal to allow some retirees to receive lump sum Social Security payments would result in higher costs for Old Age, Survivor and Disability Insurance (OASDI) in the short term, but a small net reduction in OASDI costs in the longer term, says Social Security Chief Actuary Stephen Goss.The... READ MORE

Good Plan Design Can Help Women Achieve Secure Retirement

By Ted Godbout 9/21/2017

With statistics showing women having a longer life expectancy and a significant retirement savings gap compared to men, incorporating good DC plan design and financial wellness programs can help women establish a path for a secure retirement, panelists suggested at a recent policy forum.“The Gender... READ MORE

Gig Workers Compromising Financial Security for Flexibility

By Ted Godbout 9/15/2017

While estimates of the size and growth of “gig employment” vary, there are several indications that gig work is here to stay, even though such work may have a destabilizing effect on personal financial security, a new survey shows.Noting that it conducted the survey to better understand the... READ MORE

Millennials Engaged in Retirement Saving, But Challenge Norms

By Ted Godbout 9/15/2017

Millennials are taking steps to save early for retirement, but they also have higher expectations that employers should be offering access to a retirement savings plan and socially responsive investments, according to new survey results.The Capital Group’s Wisdom of Experience survey found that... READ MORE

Fresh Relief for Hurricane Victims

By John Iekel 9/13/2017

What’s left of Hurricane Irma has not yet wrung itself dry, but already the IRS, Department of Labor and Pension Benefit Guaranty Corporation (PBGC) have announced fresh relief for its victims — as well as those of still very recent Hurricane Harvey.Part of the relief extends to Irma victims what... READ MORE

Do Older Americans Have More Income than We Think?

By John Iekel 9/8/2017

Being prepared not just for a rainy day but for years — perhaps many — of post-workforce life drives strategies and safety nets. And analyses often warn that all the effort is insufficient. But panelists at a recent discussion concerning studies on retirement income suggest that the prospects for... READ MORE

Storm ‘Warnings’

By Nevin Adams 9/6/2017

Watching the incredible, heart-rending coverage of Hurricane Harvey’s devastation, I was reminded of a personal experience with nature’s fury.It was 2011, and we had just deposited our youngest off for his first semester of college, stopped off long enough in Washington, DC to visit our daughters (... READ MORE

OregonSaves Invites More Employers to Register

By ASPPA Net Staff 9/1/2017

OregonSaves, the Oregon Retirement Savings Program, has invited additional Oregon employers to register for its pilot program.OregonSaves reports that it has invited more than 40 additional employers to do so. By June 20, 11 employers had registered. OregonSaves says that brings the total potential... READ MORE

Oregon Treasury Seeks to Modify State Retirement Program

By John Iekel 8/31/2017

The Oregon Treasury has unveiled a proposal to modify the Oregon State Retirement Program (ORSP).The proposal would create new rules and modify existing rules for the ORSP. Specifically, the rules: clarify the definitions in certain joint employment relationships; allow for non-payroll... READ MORE

RBDs the Key to RMDs

By John Iekel 8/28/2017

There’s more to required minimum distributions (RMDs) than simply making payments. A recent white paper reminds that the responsibility of making RMDs includes fulfilling it on time.In the recent white paper “Are You Overlooking Required Beginning Dates?” William Grossman notes that Internal... READ MORE

The Class of 2021

By Nevin Adams 8/25/2017

Several years back, a group of us were talking about the rising cost of gasoline, when I quite casually mentioned, “Well, at least we’re not having to wait in lines to buy it.” At which point it was obvious from the reaction of the group that I was the only one who had had that particular... READ MORE

Re-Enrollment Can Benefit More Than Participants

By ASPPA Net Staff 8/23/2017

Many argue that re-enrolling 401(k) participants into target date funds (TDFs) benefits them and their beneficiaries. But a recent blog entry argues that it’s also good for a plan itself.In “Seven Reasons to Re-enroll Your 401k Participants,” Robert Lawton outlines reasons why he believes re-... READ MORE

More Than 1 Million Could Lose Pension Benefits, Study Says

By ASPPA Net Staff 8/23/2017

In the next 20 years, more than a million plan participants covered by 114 multiemployer plans could lose pension benefits, according to a recent study.The actuarial consulting firm Cheiron has announced that it has found that those plans are underfunded by $36.4 billion — they collectively have... READ MORE

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