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Retirement Income
Yes, younger generations have lower levels of financial literacy—but the results of a new study suggest that the overall levels and implications may not be what you think.
According to the report from the TIAA Institute and the Global Financial Literacy Excellence Center (GFLEC) at the George...
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The Consumer Price Index (CPI) has risen steadily throughout 2021, with prices in October 2021 6.2% higher than at the beginning of the year.
We have all been pretty much ignoring inflation as a retirement savings/income risk for some time. Understandably, since inflation for the last decade has...
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Several years ago, we had in mind that it would be fun to get an aquarium for our home, and (even) I got excited at the prospects of filling it with a variety of all kinds and sizes of exotic fish.
Sadly, those hopes were dashed when I discovered that , despite the massive displays of what...
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Editor’s Note: This is the first in a three-part series on pension plan funding. It features discussions with Brad Smith, Partner at consultant and investment firm NEPC and member of its Corporate Defined Benefit Team.
Pension plan funded status has long been a topic of interest and concern. But...
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Bipartisan retirement security legislation that shares some overlap with the SECURE Act 2.0—and is supported by the American Retirement Association—has been approved by a key House committee.
The House Education and Labor Committee on Nov. 10 approved the Retirement Improvement and Savings...
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Colorado and neighboring New Mexico plan to form a partnership regarding the state-run retirement saving programs each operates.
The Colorado Department of the Treasury announced Nov. 9 that the Colorado Secure Savings Program and the New Mexico Work and $ave programs signed a Memorandum of...
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October was a treat, not a trick, for pension plan funding. Two recent reports have good news for pension plans and their participants and beneficiaries.
Milliman reports that in its 100 Pension Funding Index—which measures the health of the 100 largest corporate defined benefit plans—the funded...
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The IRS has shed light on whether rehiring a retiree causes that retirement to not be considered a bona fide retirement and on in-service distributions to people who are still working.
The IRS provided this information by adding frequently asked questions (FAQs) to those it provides concerning...
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The chairman and ranking member of the House Education and Labor Committee have introduced—and plan to act on—bipartisan legislation that shares some overlap with SECURE Act 2.0.
The Retirement Improvement and Savings Enhancement (RISE) Act (H.R. 5891) was introduced Nov. 5 by committee Chairman...
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The budget reconciliation bill wending its way through the House of Representatives includes provisions that would affect rollovers and conversions to Roth IRAs and designated Roth accounts.
In “Rollovers and Conversions to Roth IRAs and Designated Roth Accounts: Proposed Changes in Budget...
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It’s ironic that programs designed to provide retirement income pay so little attention to the realization of that objective.
That’s right—for the vast majority of participants today, creating that “paycheck for the rest of your life” remains a DIY undertaking. To this day only about half of...
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It’s no secret that the Social Security system needs help, and some suggest even life support. The Congressional Research Service (CRS) has released a report on a novel approach: removing the taxable earnings base.
Social Security payroll taxes are imposed on covered earnings up to an annual...
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The nation’s highest court appears to be considering a review of a challenge to the CalSavers program.
At least that’s implied by the request (Howard Jarvis Taxpayers Ass’n v. Cal. Secure Choice Ret. Savings Program, U.S., No. 21-558, request for response 11/2/21) by the U.S. Supreme Court that...
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October may be the month of ghosts and hobgoblins, but in 2021 it was anything but scary—at least for CalSavers. The program the state of California provides for employees whose employers do not offer a retirement plan showed strong growth in some respects during the month.
The CalSavers...
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The House of Representatives approved bipartisan legislation last week that would give the financial industry better tools to address suspected financial exploitation of seniors.
On a Oct. 25 voice vote, the House approved the Financial Exploitation Prevention Act (H.R. 2265) sponsored by Rep....
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The 3rd annual Plan Sponsor Council of America (PSCA) HSA Benchmarking Survey finds some consistent trends emerging.
With three years of data now, PSCA’s annual HSA survey is revealing some trends in design and administration. Even as best practices regarding HSA program administration begin to...
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The CalSavers Retirement Savings Board has issued a Notification of Proposed Emergency Regulation Action to readopt regulations that took effect earlier in 2021.
The Board adopted those emergency regulations to:
amend the default investment option;
reduce the minimum contribution amounts for...
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The ripple effects of economic developments and interactions touch many shores—including pension plans. Recent studies discuss factors now affecting plans as well as what developments may portend.
Funded Status
Insight Investment, in its quarterly U.S. Pension Market paper, reports that...
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Halloween is the time of year when one’s thoughts turn to trick-or-treat, ghosts and goblins, and things that go bump in the night—and, for plan sponsors, and those who support them, a good time to think about the things that give us pause—that cause a chill to run down our spine…
Things like…...
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The Department of Labor’s Employee Benefit Security Administration (EBSA) has released a report that shows that retirement plans are growing by all measures: number of plans, participants, assets, contributions and disbursements.
The data is drawn from Form 5500 Series reports for plan years...
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