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Retirement Income
One of the incentives for adopting and participating in an employer-sponsored qualified plan are tax benefits for employees and employers. A Feb. 9 ASPPA webinar focused on tax credits for small employers that adopt plans and for participants with modest incomes.
In “Working with Qualified...
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If the recommendations of the Wisconsin Retirement Security Task Force are followed, the Dairy State could join others that have implemented a state-run plan to provide coverage for workers whose employers do not offer a retirement plan.
The task force, headed by Wisconsin State Treasurer Sarah...
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Finding missing participants is serious business. But one industry expert likens it to a children’s game—though the stakes are higher than simply finding someone else to be “it.”
“I am sure it feels like a cruel game of hide-and-seek for plan sponsors that are unable to find a participant or...
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As part of the push to enact a nearly $2 trillion stimulus bill, the House Ways & Means Committee moved forward Feb. 11 with a proposal to freeze retirement plan contribution limits to help offset the cost of multiemployer plan relief.
On a party-line vote of 25-18, the committee approved the...
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Defendants in another excessive fee suit got some good news this week, as a federal judge ruled that the plaintiff’s “apples-to-oranges comparisons” regarding the plan’s fees and funds “do not raise a plausible inference that defendants breached their fiduciary duties of prudence and loyalty.” ...
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The massive amount of student debt and its effect on saving for retirement are in sharper relief than ever, argues a recent analysis.
Student debt is an even more serious concern today as many of the young adults who are joining the workforce have amassed a considerable debt, writes Kara Melber in...
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The results of a new survey reveal that certain plan features have seen a significant increase in adoption, while others have struggled to gain traction.
For instance, brokerage accounts in DC plans have grown from 19% in 2005 to 60% of plans in 2020, according to findings from NEPC’s 15th...
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Editor's Note: This is the thirteenth installment in a series concerning correcting plan loan failures.
Q. Beginning in July 2018, payments for an existing loan continued to be withheld from pay, but were not remitted to a trust account. A Form 1099-R was issued in January 2019 on the “defaulted...
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The platform may be different, but the excessive fee allegations directed toward a multiple employer plan (MEP) are all too familiar.
The plaintiff this time is one Kimario Anderson, who was employed by Heartland Coca-Cola Bottling Company, LLC, an employer that participated in the Coca-Cola...
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In his first appearance before the Senate, President Biden’s nominee to lead the Department of Labor vowed to work with both parties to address multiemployer pensions, as well as other retirement security issues.
Boston Mayor Martin Walsh, the Secretary of Labor nominee, stated at his Feb. 4...
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The American Retirement Association, along with 30 other organizations, wrote to New York State leaders, criticizing a proposal to tax stock transfers as a misguided attempt to address the state’s budget deficit.
“While some see this as a tax on the securities industry itself, it is actually a...
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Will your 401(k) be bumped up by a Buccaneers victory—or chipped by the Chiefs?
That’s what adherents of the so-called Super Bowl Theory would likely conclude, after all. The theory is that when a team from the old National Football League wins the Super Bowl, the S&P 500 will rise, and when a...
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At the time of its passage, many in the retirement industry were concerned that the CARES Act would “open the floodgates” to a large percentage of workers cashing out years of retirement savings.
Fortunately, that did not happen, according to an analysis by Vanguard of its DC recordkeeping data...
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The new year has brought some good news for private-sector defined benefit plans, according to recent reports.
Willis Towers Watson, in its Pension Index that gauges the performance of a hypothetical benchmark pension plan, says that its index had a strong start to 2021, and rose to a level it...
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Framed as a tax on Wall Street, a new study contends that a financial transaction tax in reality would threaten the retirement savings of millions of Americans.
Legislation has been introduced at the federal and state level, including a new bill to implement an FTT in response to the market frenzy...
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The average 401(k) had a pretty good year in 2020, but 2021 is a whole new year.
U.S. stocks ended the month with their worst week since October—though on the last day of that month those two stocks that have been at the center of recent social media controversy—GameStop and AMC Entertainment—rose...
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A new study that looks at the implications student loan debt is having on overall financial security and retirement preparedness finds both positive developments and ongoing red flags.
In “Student Loan Debt: Who Has It and How Much?,” the Employee Benefit Research Institute (EBRI) reports that...
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The Congressional Research Service (CRS) has updated information concerning the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), both benefit formulas that reduce Social Security benefits for workers and their eligible family members if the worker receives (or is...
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We just noted the day upon which America turns its attention to Punxsutawney, PA (and what seems to be a rapidly expanding array of Punxsutawney Phil wannabes) to get a read on the duration of winter.
The theory, of course, is that if your local groundhog sees his (or her?) shadow when he/she...
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CalSavers, the state-run retirement program for employees whose employers do not offer a retirement plan, grew in January while the opt-out rate held steady, according to the CalSavers Retirement Savings Board. This marks a continuation of the trends that the board reported in the 4th quarter of...
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