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Retirement Income
Hope your summer is off to a fun start. The end of June and beginning of July period truly feels like my one break during the busy year, even as the storm of September is on the horizon.
First up this month, the ASEA Monthly staff presents its write-up of David Kupstas’ recent presentation—I the...
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Happy Bobby Bonilla Day! It’s that magical time of the year when the former New York Mets great collects a gargantuan check for having done little more than extremely savvy financial planning.
The 59-year-old MLB vet hasn’t played in a major league game since the late 1990s, but the Mets still pay...
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June brings increasing warmth, and in 2023 not just because summer arrived—by a variety of measures, the same held true for private-sector defined benefit plans.
Funded Status
Reports show that the funded status of private-sector pension plans improved in June, according to October Three,...
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Until recently, the federal law governing most private retirement was seldom a subject of national headlines—let alone the subject of an Instagram reel by the Speaker of the House.
But Speaker Kevin McCarthy and others have proclaimed that it now allows investment managers for many workplace...
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In asking whether a lack of asset diversification in DC retirement plans has been a potential missed opportunity, the findings of a new study suggest the answer is yes.
More specifically, the Georgetown Center for Retirement Initiatives (CRI), in conjunction with CEM Benchmarking, set out to...
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With an increasing number of plan sponsors apparently wanting to retain plan assets post-retirement, retirement income initiatives in 401(k) and other defined contribution (DC) plans have increased in recent years.
According to a 2022 Cerulli survey of DC plan consultants, 58% of their plan...
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The Pension Benefit Guaranty Corporation (PBGC) has work to do in its review of applications for aid under the Special Financial Assistance (SFA) program, says the Office of the Inspector General (OIG).
The OIG released “Audit of PBGC’s Review of Initial Special Financial Assistance Applications...
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I recently ran across a survey that claimed 7 in 10 DC plan sponsors were “taking steps” to solve the retirement income challenge… but that looks to have been “aspirational.”
While the survey’s[1] intro cautioned that there was more to be done, that struck me as a remarkably high (and reassuring)...
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Not your grandparents’ retirement? Actually, it is.
A little-reported finding from Schroders’ recent US Retirement Survey 2023 is that Millennials are inexplicably investing in much the same way as their grandparents.
The surprising fact doesn’t bode well for the younger generation, which should...
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Once again, the nation will celebrate Independence Day—though of course independence didn’t actually occur on July 4.
Let’s face it, the Declaration of Independence[1] was little more than that—a declaration. One that had yet to be backed by anything beyond the artfully crafted and narrow...
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Want to keep your employees? Offering a retirement plan could be an answer, says recent analysis.
October Three argues that employer-provided retirement plans are a potent tool to retain employees and counters what it calls “the number one problem facing American companies right now.”
Setting...
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On June 28, Sen. Bill Cassidy (R-LA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, and Rep. Virginia Foxx (R-NC), chairwoman of the House Education and the Workforce Committee, criticized the Biden administration’s hard close proposed rule that they said “...
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After a lot of comings and goings, filings and amended filings, an excessive fee suit brought against a $7.9 billion multiple employer plan has faded into the sunset…
The suit was filed in May 2020 in the U.S. District Court for the District of New Jersey by McCaffree Financial Corp.,[1]...
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The New Jersey Secure Choice Savings Program Board, the entity that runs New Jersey Secure Choice—the state-run savings program that provides retirement plan coverage to private-sector employees in New Jersey whose employers do not offer one—is seeking a program administrator.
The board has...
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The newest digital edition of ASPPA’s members-only magazine has been posted online!
For the self-employed and small business owners with a Solo 401(k) plan, important rules need to be carefully considered in the coming years. In this issue’s cover story, an expert panel—Nevin Adams, Dick Billings...
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For those born between 1964 and 1978, planning for the new retirement reality is particularly challenging.
Unlike Millennials, who still have plenty of time to save before retirement, and Boomers, many of whom are already in retirement, Generation X is realizing that retirement is getting closer...
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Investors grappling with ongoing inflation, high interest rates and an unstable economic environment are considering delaying their retirement plans, according to Nationwide’s eighth annual Advisor Authority.
The survey by the Nationwide Retirement Institute finds that a quarter (25%) of pre-...
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Limit spending, work longer, maximize contributions, buy annuities, delay claiming Social Security, buy long-term care insurance, increase equity allocations, or relocate to cheaper housing. These are just some of the messages that retirement savers are bombarded with about how to personally manage...
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In a nod to plan sponsors that improved plan design and introduced new automatic features despite a volatile economy, Vanguard reveals in its just-released How America Saves report that it saw record highs in participation, deferral rates, and the use of professionally managed allocations in 2022...
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The government of Maine has enacted a measure that adjusts its state-run retirement savings program.
Gov. Janet Mills (D) on June 12 signed into law legislation that adjusts the Maine Retirement Savings Program, the plan that provides coverage to private-sector employees whose employers do not....
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