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Retirement Income
That may seem an odd equation. And yet, a speaker at a recent retirement industry conference argues exactly that.A handful of states have put in place plans intended to help make sure that retirement plan coverage and participation expands. But the fact that states are acting to fill the coverage...
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In less than a month, the new “transition” exemptions will apply to recommendations for IRAs. Fred Reish looks at how to prepare for that shift.In a recent blog post, Reish explains that if an adviser and its supervisory entity are “pure” level fee fiduciaries, there will not be a prohibited...
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At a recent policy forum sponsored by the Employee Benefit Research Institute, Catherine Collinson, President of the Transamerica Center for Retirement Studies, outlined five ways to “fix” the current Saver’s Credit.The credit helps offset part of the first $2,000 ($4,000, for joint filers) workers...
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Defined contribution plan assets under management (AUM) reached $5.95 trillion in 2016, says a recent survey of money managers.The survey, conducted by Pensions & Investments (registration required) said that the AUM was 8.6% higher than in 2015. It also said that the DC plan assets the...
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As many as one-third of the U.S. workforce is said to be currently engaged in temporary, contract or on-demand work — and a new bicameral legislative proposal seeks to set aside some funding to study alternatives.The Portable Benefits for Independent Workers Pilot Program Act would establish a...
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The Pension Benefit Guaranty Corporation (PBGC) would have billions more to work with under the federal FY 2018 budget proposal unveiled May 23.The Trump administration’s first budget includes provisions relevant to the PBGC that would: make changes to PBGC premiums that would raise $21 billion;...
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Federal employees’ COLAs would be eliminated under the fiscal year 2018 budget proposal released by the White House on May 23.According to FedSmith, the budget the Trump administration unveiled proposes eliminating the cost-of-living adjustment for current and future federal retirees under the...
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Are your participants dazed and confused about retirement planning and its importance? If so, studies suggest they may not be alone. But recent blog entries offer a way to dispel the fog.On PenChecks’ blog, Carol Buckmann makes the case for increasing participants’ grasp of retirement plans and...
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Choosing between a lump sum and regular, smaller payments over a long period is only the beginning. There are many other moving parts to the process, and many important considerations.An Informed Choice?MetLife in “Paycheck or Pot of Gold Study: Making Workplace Retirement Savings Last,” Showed...
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There are lots of reasons why people get behind in their retirement savings — and one very helpful way that older workers can make up for lost time and catch up.Individuals who are age 50 or over at the end of the calendar year can make annual catch-up contributions — up to $6,000 in 2017 in a 401(...
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The number of workers participating in the Social Security system has risen, as has the number of people receiving benefits. But while the importance of Social Security has increased, say recent reports, individual retirement accounts figure very prominently as well.Social SecurityEighty years...
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Premiums paid to the Pension Benefit Guaranty Corporation (PBGC) are an important concern for DB plans, their administrators and their sponsors. And an increasing concern at that, since they grow and grow. But there are questions regarding what exactly that money is going toward.In Findley Davies’...
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Why would an individual opt to receive a lump sum payment? Some experts offer their insights.The entire matter, MetLife says in its recent study, “Paycheck or Pot of Gold Study: Making Workplace Retirement Savings Last,” is a relatively new phenomenon. The study points out that defined benefit...
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There’s been a lot of rumbling on and around Capitol Hill about a potential shift to Roth contributions for 401(k) plans as part of tax reform. So, how might that weigh on — or boost — retirement savings?While the ultimate answer depends on a huge (and as yet) unknown variable — how workers would...
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Public pensions’ funded ratios improved in the first quarter of 2017 — and some markedly so. That according to a report on the 100 largest U.S. public pension plans.According to Milliman’s 100 Public Pension Plan Funding Index, the overall funded ratio for those plans stood at72% by March 31. In...
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The Pension Benefit Guaranty Corporation (PBGC), the agency created to address the problem of insolvent pension plans, has had solvency problems of its own. But its condition improved somewhat in 2016, according to new data.The PBGC has released data concerning its assets, liabilities premiums and...
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Multiemployer pension plans’ funding levels improved in the second half of 2016, a recent study says. The results mark a general improvement, interrupted by a few short periods of backtracking, since the Great Recession.In the Spring 2017 Milliman Multiemployer Pension Funding Study, Milliman...
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A new survey finds that debt, exercise and work reorganizations can have a huge influence on worker well-being. And you might be surprised at which generational cohort is taking it harder than anyone else.This year, the average person will most likely experience four life events such as starting a...
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The Department of Labor (DOL) is planning to undertake a long-term research study that will track U.S. households over several years “in order to collect data and answer important research questions on how retirement planning strategies and decisions evolve over time.”The DOL has submitted for...
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Based on the IRS newsletter article in April 2015 and with the release in late February 2017 of hardship documentation guidance, we were not surprised by the IRS’ recent release of guidance on participant loans. However, we were surprised by the issue the guidance actually addressed. The IRS issued...
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