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Retirement Income
Despite the global pandemic and market volatility, young retirement “super savers” put away even more money over the past 18 months, proving that it doesn’t necessarily take higher earnings to improve retirement readiness.
Among the top retirement savers from Generations X, Y and Z, more than...
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While we tend to remember October’s tumbles, it’s September that tends to be the problem for U.S. stock markets. What happened to the average 401(k) this time?
Sure enough, despite a long stretch of gains for the stock market this year, September turned out to be a bit of a downer; the S&P 500...
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Retirement assets in the United States grew in the second quarter of 2021, says a recently released report.
According to the Investment Company Institute (ICI), retirement assets comprised 33% of all household assets in the United States. At the end of the second quarter, U.S. retirement assets...
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The Pension Benefit Guaranty Corporation (PBGC) has expanded the information it makes available concerning the effects of its Special Financial Assistance (SFA) Interim Final Rule by adding a Q&A webpage.
The PBGC issued the interim final rule on July 9. The rule implements a Special...
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Editor’s Note: The House Ways and Means Committee recently approved funding provisions for the Build Back Better Act of 2021, including several retirement plan provisions (starting on page 665, and summarized here.)
That part of the bill is aimed at limiting the ability of high-income...
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Social Security auxiliary benefits remain crucial in improving income security for surviving spouses and dependents, says a recently updated report by the Congressional Research Service (CRS).
“Social Security: Revisiting Benefits for Spouses and Survivors,” updated Sept. 21, 2021, says that...
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Touted as a way to help gig workers, part-time workers and those without access to an employer-sponsored account, legislation has been introduced in both the House and Senate to create universal, portable retirement accounts.
The Portable Retirement and Investment Account (PRIA) Act of 2021 ...
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One of the most significant challenge facing Pooled Employer Plans (PEPs) and Multiple Employer Plans (MEPs) is probably having to deal with “bad acting employers,” that is, those who won’t provide sufficient information to auditors to complete the audit for the whole plan, those regularly do not...
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Each generation experiences life through the prism of its own experiences—creating a unique frame of reference that can itself be a language barrier in communication.
Indeed, I have for years enjoyed checking out what was once called the Beloit College Mindset List (a couple of years back...
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As their sense of responsibility grows in supporting the financial needs of their workforce, employers apparently are offering more robust and wide-ranging workplace benefits, according to new survey results.
“We are seeing the number of employers who offer comprehensive workplace benefits...
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Editor’s Note: The House Ways and Means Committee recently approved funding provisions for the Build Back Better Act of 2021, including several retirement plan provisions (starting on page 665, and summarized here.)
That part of the bill is aimed at limiting the ability of high-income...
READ MORE
It’s often said that “if it bleeds, it leads”—and, according to a new report, it may also mislead.
The study—by folks at the Center for Retirement Research at Boston College—looked at coverage of Social Security’s finances, noting that while the 2020 Trustees Report projects that the Social...
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The Pension Benefit Guaranty Corporation (PBGC) reports that there is some good news for a change regarding its Multiemployer Program that provides financial assistance to multiemployer plans that become insolvent, to help them cover the cost of PBGC-guaranteed benefits to participants and the plan...
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In a marked turnaround, the Pension Benefit Guaranty Corporation (PBGC) reports that the solvency of both its insurance programs—the single-employer program and the multiemployer program—is improving.
The report marks a continuation of the growing solvency of the single-employer program, but a...
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This is a pretty exciting time in the defined contribution plan marketplace. Years of work from a number of different quarters seem to be finally beginning to coalesce around the notion of sanely “decumulating” assets from DC plans. I wonder if a measure of all this may be the growing catalog of...
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Beginning this year, Social Security expenditures will exceed total revenues—and that trend will hold for the rest of the 21st Century, according to an updated report by the Congressional Research Service (CRS).
In its most recent Social Security Primer, updated Sept. 15, 2021, the CRS reports...
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The Pension Benefit Guaranty Corporation (PBGC) issued a final rule Sept. 14 that amends its regulation on Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the asset allocation regulation for plans with valuation dates in the fourth quarter of 2021. These...
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Starting Oct. 1, 2021, reportable events filings can only be made to the Pension Benefit Guaranty Corporation (PBGC) electronically. The PBGC issued a reminder on Sept. 15.
Reportable event filings (Form 10, Form 10-Advance, and Form 200) will need to be prepared and submitted using the PBGC’s e-...
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A strong majority of parents in a recent study expressed willingness to use their retirement savings to finance their children’s college education.
According to Lending Tree, 68% of parents in a survey of 1,000 parents of children under age 18 would take money from their retirement savings to...
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There was good news for private-sector pension plans in August by a variety of measures, several reports indicate.
Liabilities and Assets
Liabilities rose slightly in August, says Willis Towers Watson. But only very slightly—they report that the liability implicit in their pension index...
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