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Retirement Income

When it comes to managing 401(k) investment allocation transactions, a new study suggests that the usability of key website features represents one of the most persistent problems across provider interfaces.   Two seemingly tangential features that came up continually during Corporate Insight’s... READ MORE
A recent study bolsters the findings and arguments of those who suggest that retirement doesn’t necessarily mean not working any more. The LIMRA Secure Retirement Institute reports that approximately of 20% of retirees actually continue to work in some capacity. “Today retirement is better defined... READ MORE
As the world’s largest retirement market, current trends in the U.S. will have a disproportionate impact on leading financial services firms over the next two decades, says a new report.  While noting that retirement “is and will continue to be” one of the largest growth opportunities for wealth... READ MORE
The mercury may have soared in July, but the funded status of the biggest corporate pension plans fell, says a recent report. The Milliman 100 Pension Funding Index (PFI), through which Milliman provides information on the 100 largest corporate defined benefit plans, reports that in July their... READ MORE
  A new study contends that American workers’ participation in employer-sponsored retirement plans is significantly higher than suggested by the most commonly cited statistics.  In fact, nearly two-thirds of workers between ages 26 and 64 participate in such plans, either directly or through a... READ MORE
Do plan sponsors really know what participants want?  Back in the early 1990s, there was a very popular “self-help” book on relationships titled “Men Are From Mars, Women Are From Venus.” The basic premise, of course, was that men and women have different means and styles of communication – that,... READ MORE
Multiple employer plans (MEPs) figure prominently in many discussions about workplace retirement plans today. And with those discussions including changes that would expand their availability and use, an Aug. 6 webinar provided a useful refresher on the federal rules governing MEPs. In the... READ MORE
A missed deferral has ripple effects and is not an isolated event. The sooner it is addressed the better, argued an industry expert in an Aug. 7 ASPPA webcast. “It is important to get it right and ger the participant where he/she would have been if the error had not happened,” said Mike Smith, a... READ MORE
Talking about financial investments and products at home can help lead to greater financial literacy and a greater propensity to save for retirement, says a recent study. The LIMRA Secure Retirement Institute in “The Roots of Financial Literacy: The Impact of Family on Financial Knowledge and... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) on Aug. 6 announced that its multiemployer insurance program continues to be in worsening financial shape, while its single-employer counterpart has exactly the opposite condition. The PBGC, in its FY 2018 Projections Report, says that the... READ MORE
The Department of Justice has asked a federal court to hold off ruling on a suit challenging California’s auto-IRA program for private sector workers. The suit in question is a challenge by the Howard Jarvis Taxpayers Association, claiming that the California Secure Choice Retirement Savings Trust... READ MORE
As Congress headed out of town for the August recess, retirement’s “Dynamic Duo” have teamed up on legislation designed to help stave off nondiscrimination testing issues for frozen defined benefit plans. U.S. Senators Rob Portman (R-OH) and Ben Cardin (D-MD), both members of the Senate Finance... READ MORE
Aligning your HSA with your 401(k) can help drive employee engagement.  As Health Savings Accounts (HSAs) continue to soar in popularity, many plan sponsors continue to express challenges in communicating to employees about their HSAs. One trend among plan sponsors has been to align the HSA with... READ MORE
Much has been made of how well the Millennials are — or are not — saving for retirement. A recent analysis dispels three myths that discourage their preparations for those golden years.  In “3 Myths Busted To Help Millennials To Save For Retirement,” an article appearing in Forbes, Kimberly... READ MORE
Some trends, such as reduced pension coverage, low savings rates and longer lifespans, have led many to fear a looming retirement crisis, while others, such as women’s increased employment and earnings, longer working lives and economic growth, point to better retirement outcomes. So how will these... READ MORE
A recent federal court decision should remind us all of the importance of plan committee education. The case involved a suit by participants in the SunTrust 401(k) plan that challenged the initial selection of, and subsequent acquiescence with, an ostensibly imprudent plan investment menu. The... READ MORE
The Chairman of the House Ways & Means Committee in July 24 remarks argued that it is time to get the SECURE Act over the goal line.  “There are not many examples of the sort of bipartisanship [we saw] on the SECURE Act that you can look to,” Rep. Richard Neal (D-MA) explained to delegates at... READ MORE
ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts and events. Live Webcasts  ASPPA Webcast: Correcting Missed Elective Deferral Opportunities under EPCRS Wednesday, August 7, 2019 2:00 – 3:40 p.m. ET Speaker:... READ MORE
At the opening session of the 2019 NAPA D.C. Fly-in Forum on July 23, ASPPA Executive Director (and American Retirement Association CEO) Brian Graff noted that it’s a “hot mess” in Washington – both literally and figuratively.  Expressing his frustration that the bipartisan Setting Every Community... READ MORE
Legislation the House of Representatives passed on July 24 is intended to assist financially troubled multiemployer DB plans that meet specified criteria, but that help would come with a hefty price tag, according to the Congressional Research Service (CRS). In a two-page report updated July 19,... READ MORE