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Retirement Income

Ever wonder what would happen in a world without defined contribution plans? Or a world in which everyone had one? A new study by the Employee Benefit Research Institute examines what impact these scenarios would have on retirement income adequacy. In recent years, various policy proposals have... READ MORE
A recent headline screamed that 401(k) savings rates have “stagnated” – but that’s missing the point. “Stagnated” in this case apparently means that the average savings rate in 2018 — both employee and employer contributions — was 10.6%, roughly the same as the 10.4% rate reported in the survey in... READ MORE
How do your clients’ participants envision their retirements? Are they riding astride unicorns on cotton candy tufts of cloud? Or are they Sisyphus, endlessly pushing to an idyllic summit they’ll never reach? A recent blog entry outlines five myths concerning retirement planning that may help plan... READ MORE
July 1 is the registration deadline for the next wave of employers for 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. Employers with 100-499 employees must register with the... READ MORE
The House Ways & Means Committee has voted to extend a vast array of individual and corporate tax provisions, including special disaster-related rules for use of retirement funds. Disaster Relief Assistance The Committee late June 20 approved the Taxpayer Certainty and Disaster Tax Relief Act... READ MORE
The American Retirement Association, as well as a broad coalition of groups and associations, on June 18 sent a letter to the Senate expressing their support for the Setting Every Community Up for Retirement (SECURE) Act.The House passed the measure on May 23 by an overwhelming margin of 417-3. The... READ MORE
Please hold on to the bar. That’s sound advice when seated in an amusement park thrill ride. But a recent blog entry suggests that the maxim is applicable to how a plan fiduciary approaches how participants invest their funds amid the vagaries of market volatility. The rises and falls in the... READ MORE
A new study suggests that employers that focus on the financial well-being of their workers have a significant opportunity to improve employees’ financial health, while also benefiting their business.   Conducted by the Financial Health Network on behalf of Morgan Stanley at Work, the survey of 1,... READ MORE
Defined contribution plans are practically ubiquitous. But like most things that are common, the mere fact that they are does not necessarily mean that comprehension of investing the funds they contain is. A recently released research paper discusses the problem posed by poor financial literacy and... READ MORE
An excessive fee suit has been granted class action status in federal court. This time it’s a group of former participants in the JPMorgan Chase 401(k) Savings Plan, a plan that has approximately 266,000 to 300,000 participants and more than $14 billion in assets. Suit ‘Case’ In considering the... READ MORE
An annual bellwether report on corporate retirement plans finds that the retirement readiness for participants in those plans is brighter due to plan design enhancements and adoption of prudent investing practices.  In fact, the usage of automatic enrollment has tripled since year-end 2007 and has... READ MORE
Following a contentious markup session, a key House Committee approved legislation on June 11 that would address the funding problems facing multiemployer pension plans.  The House Education & Labor Committee’s approval of an amended version of the Rehabilitation for Multiemployer Pensions Act... READ MORE
The average funded status of the 100 largest corporate pension plans in the United States dropped slightly from April to May, while volatility of both assets and liabilities rose slightly, according to recently released data. According to NISA Investment Advisors, average funded status dropped by... READ MORE
The official hurricane season has just begun (the National Oceanic and Atmospheric Administration says it starts June 1). But we’ve already had a tropical system in the Atlantic (Andrea) — and that serves as a reminder that it can be helpful to a service provider and plan administrator to prepare…... READ MORE
A new survey finds that the use of an online retirement calculator has spurred more than half of those who did to take positive actions related to their finances. The nationwide survey of 1,000 401(k) plan participants by Schwab Retirement Plan Services found that just over half (52%) have used an... READ MORE
The headline in a recent New York Times piece cautions that “Confusing Options May Be Coming to Your 401(k). It Could Cost You.”   Those “confusing options”? Retirement income. And, ironically, they might undermine support for the most significant piece of pro-retirement legislation in a decade... READ MORE
Whether you are a Game of Thrones aficionado – or haven’t watched a single episode – there are lessons to be learned nonetheless. Not only are there fiduciary admonitions from the HBO series, it turns out there are words of wisdom for individual retirement savers as well. Check these out. “When... READ MORE
Life has many lessons to teach us, some more painful than others – and some we’d just as soon be spared. But as graduates everywhere look ahead to the next chapter in their lives, it seems a good time to reflect on some lessons learned along the way. It’s handy to know at least a little about... READ MORE
Following House passage of the bipartisan SECURE Act last month, it looked like the legislation was headed for quick enactment. Since then, however, the realities of the Senate’s legislative process appear to have taken over.    A quick recap from where we last left off: On May 23, the House... READ MORE
Oregon employers that do not comply with the rules of OregonSaves — the Beaver State’s state-sponsored retirement program — will face penalties starting next year. Gov. Kate Brown (D) has signed into law SB 164, a measure which provides that an employer found not to be in compliance will face... READ MORE

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