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Retirement Income
Private-sector pension plan finances lost ground in July, say recent reports; nonetheless, the news for 2021 overall remains good.
Cool in July
October Three, which tracks two hypothetical defined benefit plans—one that is invested in a more traditional way and another invested in a conservative...
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The Department of Labor (DOL) issued registration requirements for pooled plan providers (PPPs) late in 2020. So how many registration filings have there been?
The DOL issued a final rule on Nov. 12, 2020 that established registration requirements for PPPs. PPPs have been able to operate pooled...
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Geography is more than maps and topographic features—it also can suggest how much work there is to do in various regions and states to increase access to retirement plans and participation in them.
There is much data available concerning access to, and participation in, retirement plans in the...
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While it may come as no surprise, new survey results show that auto-enrollment has been an important tool to help young savers get on the right track to saving for retirement early in their careers.
According to the latest quarterly Principal Retirement Security Survey, 84% of workers who were...
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The younger a person is, the higher the likelihood that they will be concerned about the effect of the pandemic on retirement security, recent research says.
Researchers at the National Institute on Retirement Security (NIRS) report in “Generational Views of Retirement in the United States” found...
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The Connecticut Retirement Security Authority (CRSA) has announced the launch of a pilot of MyCTSavings, the state-run retirement savings program intended to provide coverage for private-sector employees whose employers do not offer them a plan. The pilot is slated to begin in September.
The CRSA...
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The guidance in Notice 2021-48, issued July 30, pertains to changes to the funding rules that were made by Sections 9705 and 9706 of the American Rescue Plan Act of 2021 (ARPA).
Before the ARPA was enacted, the applicable minimum and maximum percentages for the 24-month average segment rates set...
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Which is better? It depends! That’s the verdict from an industry insider who compared and contrasted the two in a June 29 session of the 2021 NTSA Summit.
“A vexing issue,” said Mark Heisler, CEO of ADMIN Partners, LLC, of the question. Not only that, he said, it is “probably the number one...
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There is a broad array of plans from which an employer and plan sponsor can choose. In a 2021 NTSA Summit workshop session, an industry expert offered an overview.
Nathan Glassey, Vice President, National Benefit Services, set the table by looking at which employers can offer particular kinds of...
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Sen. Patty Murray (D-WA), who is chair of the Senate Health, Education, Labor and Pensions (HELP) Committee, along with Rep. Lauren Underwood (D-IL), have reintroduced legislation to bolster and provide protection for women’s retirement security.
The Women’s Retirement Protection Act of 2021 (...
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More than a year into the COVID-19 pandemic, finances continue to be a top cause of employee stress, even above job, health and relationship stress combined.
In fact, nearly two-thirds (63%) of full-time employees say their financial stress has increased since the start of the pandemic, PwC...
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Most people remain hesitant to invest in cryptocurrency in their DC plans, but a recent survey finds that there’s a small “crypto-curious” contingent.
With the increased attention of cryptocurrency, Stan Treger, behavioral scientist at Morningstar, notes that analysts at the firm began to wonder...
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We all know what rising prices mean for the pocketbook and balances now, but what do they portend for retirement plans and saving?
“They say it’s only temporary, but we’ve seen the highest rise in inflation in quite some time,” writes Chris Carosa in the Fiduciary News entry, “401k Plans and...
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Brian Graff, CEO of the American Retirement Association, is set to appear next week before Congress to advocate for the retirement policy priorities of the ARA.
The hearing, entitled “Building on Bipartisan Retirement Legislation: How Can Congress Help?,” is scheduled for Wednesday, July 28, at 10...
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There are many reasons that errors in plan operation may take place. An industry expert lays some of the blame on disconnection between the way a plan defines compensation and the way it functions.
Christine P. Roberts, a benefits attorney practicing at Mullen & Henzell, LLP, in the E is for...
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Employees who maintained a handle on cash flow and an emergency fund prior to 2020 fared best during the pandemic, leading many employers to add financial resiliency to their list of key focus areas for 2021, according to a new study.
Financial Finesse’s 2020 Financial Wellness Year in Review...
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I was discussing the subject of retirement over the long holiday weekend with family.
There was a lot of talk about Social Security (or the looming lack thereof), the impact(s) of inflation, and how the markets (stock and housing) had boosted prospects, but ultimately decided we weren’t sure when...
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Despite rising fears of inflation and market volatility, 401(k) participants were light traders and content to watch their balances rise, amid the strong market performance for the first half of 2021.
According to the Second Quarter 2021 Observations for the Alight Solutions 401(k) Index, trading...
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The funded status of the 100 largest private-sector pension plans fell in the second quarter, according to a recent report.
According to Milliman, much of that was fueled by a sharp drop in June, a reversal of the trend of the previous months, Milliman says that from October 2020 to May 2021,...
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With a set of new guidance on cybersecurity issued by the Labor Department, a recent webcast outlined some key takeaways—and action steps.
In April, the Labor Department issued three separate sets of guidance—for plan sponsors (on picking vendors) for vendors (on cybersecurity program best...
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