Advertisement
Retirement Income
A fierce and powerful Democrat will be joining one of the Senate’s most powerful committees.
On Feb. 2, Sen. Ron Wyden (D-OR), who is the new, incoming chairman of the Senate Finance Committee, announced that Sen. Elizabeth Warren (D-MA) will join the Committee in the 117th Congress.
“I’m...
READ MORE
While the pandemic has provided challenges for all age groups, a new report finds that COVID-19 has produced unique challenges for young adults, particularly when it comes to their financial futures.
Even though the health implications are likely to be less severe for those in their 20s, young...
READ MORE
Editor's Note: This is the twelfth installment in a series concerning correcting plan loan failures.
Q. If an employee has terminated and has a loan balance and remaining funds in the plan but has not initiated a distribution of their plan, should the balance of the loan be offset or considered a...
READ MORE
It may just be because I’ve a birthday looming, but it would be hard to miss all the “fuss” about age and retirement during the NFL playoffs, a topic that now seems sure to carry on into the Super Bowl.
This past weekend we got to see two “old” quarterbacks fight it out for the NFC title—Tom Brady...
READ MORE
Based on conversations with thousands of employers, surveys and internal data, Fidelity has shared what it views as some of the top employee benefit trends for 2021.
Fidelity found that employers are increasingly viewing benefits in terms of diversity and inclusion and how benefits will serve all...
READ MORE
Another state legislature is moving forward with a state-run retirement savings program for private sector employees.
The Virginia House of Delegates on Jan. 26 voted 56-44 to approve House Bill 2174, establishing the “VirginiaSaves” retirement savings program to allow private sector employees...
READ MORE
A case involving custom target-date funds that made its way all the way to the U.S. Supreme Court (and back) has concluded—for the moment—in favor of the plan fiduciaries.
The original lawsuit, filed in November 2015 in the U.S. District Court for the Northern District of California by former...
READ MORE
How do third party administrators (TPAs) and pooled employer plans (PEPs) interact? A Jan. 13 ASPPA webcast discussed the intricacies of such arrangements.
In “TPAs and PEPs: Structure and Service Options,” American Retirement Association Key Accounts Director Jake Linney, CPC, CPFA, addressed...
READ MORE
On Jan. 25, the Senate confirmed one of President Biden’s top economic advisors, and a key Republican senator who has been a champion of retirement policy announced his intent to retire.
Janet Yellen was approved by the Senate in an 84-15 vote, becoming the first woman to lead the department in...
READ MORE
As 2020 ended, OregonSaves—the state-run retirement program for private-sector employees whose employers do not offer a retirement plan—had growing assets and an opt-out rate that was roughly steady. These results are similar to those reported by the CalSavers Retirement Savings Board reported and...
READ MORE
Whether in the form of an IRA or 401(k), certain aligning factors suggest that the prospects for gains in the Roth market are strong, according to a recent report.
In the Cerulli Edge—U.S. Retirement Edition, 4Q 2020, which looks at retirement trends for 2021, the firm observes that demographic...
READ MORE
Most retirement planning focuses on the “when,” and then moves quickly to “how much.” But there’s a question that often doesn’t get asked—at least not directly—that has a huge bearing on both.
That question is “where.”
More specifically, “where… do you plan to retire?” Because that decision can...
READ MORE
Data on income during retirement can be fraught with errors in gauging income and poverty levels among the elderly, says a recent study that also suggests a way to improve that measurement.
“Improving the Measurement of Retirement Income of the Aged Population,” ORES Working Paper No. 116...
READ MORE
It was an up-and-down year for the markets, rewarding those who stood pat, but it appears that some 401(k) plan participants broke the cardinal rule about selling low and buying high.
According to the Alight Solutions 401(k) Index: Full Year 2020 Observations, 401(k) investors in 2020 were busy...
READ MORE
Private-sector pension plans showed mixed results in 2020. Recent reports indicate that is the case when considering funding levels as well as how the funds in them are invested.
Funding
In Milliman’s Pension Funding Index, January 2021, Zorast Wadia, a principal and consulting actuary with...
READ MORE
The digital version of the latest issue of Plan Consultant is now available online.
The cover story is a recap of the 2020 ASPPA All Access virtual conference, delivered online over the course of three weeks in October and November.
The event captured the tenor of our time, presenting...
READ MORE
A new case of 401(k) theft has led to a lawsuit by the participant—and the plan—against a provider.
The suit—filed by Raymond J. Mandli and Mandli Communications, Inc.—alleges that on Feb. 14, 2020, “American Trust made an unauthorized distribution in the total amount of $124,105 from Mr. Mandli’s...
READ MORE
As 2020 ended, Illinois Secure Choice—the state-run retirement program for private-sector employees whose employers do not offer a retirement plan—had growing assets and an opt-out rate that was roughly steady. These results are similar to those the CalSavers Retirement Savings Board reported...
READ MORE
The U.S. Department of Labor’s Employee Benefits Security Administration has provided some guidance related to locating and distributing benefits to “missing or nonresponsive participants.”
According to Principal Deputy Assistant Secretary of Labor for the Employee Benefits Security Administration...
READ MORE
A lawsuit filed against a (relatively) small plan has been dismissed—essentially for failing to state sufficient specific allegations to warrant going to trial.
This suit, filed in February, targeted the 401(k) plan of Vail Resorts, which as of 12/31/18 had 8,276 participants with account balances...
READ MORE