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Retirement Income
CalSavers, the retirement plan the state of California provides for employees whose employers do not provide one, showed strong growth in some respects in June but held steady in others.
The CalSavers Retirement Savings Board reports that the number of employer registrations increased at double...
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A pair of Republican senators have pushed back on “troubling statements by the companies that manage federal employees’ retirement investments suggesting those asset managers are not putting federal employees’ retirement security first.”
In a June 30 letter to David Jones, Acting Chairman of the...
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A new report reveals that more employees and plan sponsors are seeing increased value in retirement and other benefits.
Results from Sequoia Consulting Group’s 2021 Employee Experience Benchmarking Report (registration required) show that the pandemic had little effect on retirement plan...
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Social Security has been a part of retirement financing for almost 90 years. But how much do its future recipients know about the storied safety net? A recent study examines how deep knowledge of it is.
The Nationwide Retirement Institute, it its 2021 Social Security Survey, found mixed results:...
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Private-sector pension plan finances were relatively static in June, say recent reports; nonetheless, the news for 2021 overall remains good—for now.
Steady in June
October Three, which tracks two hypothetical defined benefit plans—one that is invested in a more traditional way and another...
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After a split decision on the merits—and a $3.1 million settlement—the plaintiffs’ attorneys asked for a fee of $5.4 million. Guess what the judge allowed?
In the case at hand—Ramos v. Banner Health—the plaintiffs (represented by Schlichter Bogard & Denton LLP) just last month lost their...
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The Pension Benefit Guaranty Corporation (PBGC) on July 9 announced that it has issued an interim final rule implementing a new Special Financial Assistance (SFA) Program for financially troubled multiemployer pension plans. The IRS on the same day issued guidance for multiemployer plans that...
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In what is described as leaving money on the table, a new survey finds that few near-retired Americans are planning to wait until the age they become eligible to claim maximum Social Security benefits.
According to Schroders’ 2021 U.S. Retirement Survey, just 10% of non-retired Americans ages 45...
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Editor’s Note: This is the third of a four-part series concerning a recent ASPPA webinar by Kelsey Mayo, ASEA Director of Regulatory Policy and Partner at Poyner & Spruill LLP, in which she took a look at the basics about plan freezes and terminations in the context of current circumstances and...
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The study of history is a passion of mine, and while it seems a bit trite, the old adage that those who don’t remember the past are doomed to repeat it seems more apropos by the day. Regardless, I never cease to be touched by the experience of walking the grounds where famous individuals or great...
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U.S. stock markets finished at, or near, record highs in the second quarter—guess what that meant for the average 401(k) balance?
The S&P 500 closed out the quarter at 4297.5, marking the benchmark index’s 34th record close of the year, according to the Wall Street Journal, which also notes...
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There are positive steps one can take to be financially prepared for retirement. And there also are actions one can not take that will help as well, points out an industry insider.
“The stakes are high,” writes Employee Fiduciary President and CEO Eric Droblyen in “The Pitfalls that Make...
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There is plenty of activity on Capitol Hill, but it comes amid a climate that creates challenges for the retirement industry, American Retirement Association CEO Brian Graff noted June 29. Graff addressed a virtual general session of the National Tax Deferred Savings Association's annual...
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Estimated retiree buyout costs fell in May, continuing the trend of the previous month.
Both the average accounting discount rates and the annuity purchase rates decreased, says Milliman, fueling a drop in the lower estimated retiree buyout cost. The average accounting discount rates fell by 5...
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Although the “laboratory” for such analysis is relatively small, and the timeframe for evaluation somewhat limited, there are some early signs to consider.
Industry pundits and policymakers alike have long wondered—and argued—about the impact of state-run automatic IRA programs for private sector...
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Bipartisan legislation has been introduced in the House and Senate to restore the delivery of annual Social Security projected benefit statements.
Introduced by Senate Finance Committee Chairman Ron Wyden (D-OR), Finance Committee Member Sen. Bill Cassidy (R-LA), House Ways and Means Social...
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Leaving a job is not all that unusual. But for some people, changing employers doesn’t necessarily mean severing all ties with the erstwhile office.
The Secure Retirement Institute reports that since 2019, 26% of investors who changed jobs kept the retirement funds—all of them—in the defined...
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Witnesses testifying before a House panel agreed that more needs to be done to address the current retirement savings coverage gap, but they diverged on what those solutions should entail.
The June 23 hearing, “Examining Pathways to Build a Stronger, More Inclusive Retirement System,” before the...
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A new research paper suggests that policies that promote retirement saving, such as auto-enrollment, may unintentionally lead to an increase in abandoned retirement savings accounts.
In SSRN’s June 2021 paper, “Abandoned Retirement Savings,” authors Lucas Goodman of the U.S. Department of the...
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With all the buzz about cryptocurrency—well, I’m sure it will come as no surprise that somebody wants to bring it into 401(k)s.
More specifically, recently ForUsAll, a retirement investment platform for small businesses, announced the introduction of the Alt 401(k)—a platform that not only allows...
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