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Retirement Income
It’s hard to find among the nearly 5,600 pages of text, but there is some important retirement plan relief in the $900 billion COVID stimulus package.
Perhaps the most significant element is a “temporary rule preventing partial plan termination.” The provision, for which the American Retirement...
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Estimated retiree buyout costs fell in November, says a recent report. This marks a reversal of October’s results, when those costs rose.
Both the average accounting discount rates and the annuity purchase rates decreased, says Milliman, fueling a drop in the lower estimated retiree buyout cost....
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I’m sure we all have done things in our youth that we regret—or things we didn’t do for which we’d love to have a second chance.
It may seem a small thing, but I’ve long regretted discarding some 18 months of piano lessons in my youth. It was just one of those days when my desire to play ball (...
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Missing participants are a problem—for employers, for plans, for beneficiaries and even for the participants themselves. A Nov. 11 session of ASPPA All Access offered a look at the challenge missing participants pose, and what can—and must—be done to meet it.
Maggie Younis, CPC, QPA, QKA, TGPC,...
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Once upon a time, as Christmas neared, it was not uncommon for my wife and I to caution our occasionally misbehaving brood that they had best be attentive to how their misbehaviors might be viewed by the big guy at the North Pole.
In support of that notion, a few years back—well, now it’s quite a...
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There’s some great news for plan sponsors in the COVID relief bill—a “temporary rule preventing partial plan termination.”
The legislative text in the massive (nearly 5,600 page) bill includes in Division EE, Section 209 that “temporary rule preventing partial plan termination.” The provision, for...
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The Pension Benefit Guaranty Corporation (PBGC) is seeking the approval of the Office of Management and Budget (OMB) of modifications to the information collection related to 2021 premium filings.
The PBGC intends to modify the 2021 premium filing to require certain plans that transferred assets...
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A new bill introduced in the U.S. Senate seeks to expand the impact of the Saver’s Credit and restore the myRA program eliminated by the Trump administration.
The Encouraging Americans to Save Act, introduced by Senate Finance Committee Ranking Member Ron Wyden, D-Ore. along with Sens. Ben Cardin...
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The Office of Information and Regulatory Affairs of the Office of Management and Budget has outlined the regulatory agenda of the IRS, and the status of the rules that are part of it.
Proposed Rules
Reporting and Notice Requirements for Deferred Vested Benefits Under Section 6057. Would provide...
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Editor's Note: This is the tenth installment in a series concerning correcting plan loan failures.
Q. I have a client that self-corrected and just got a letter last week a Department of Labor (DOL) office due to late deferrals reported on the 2018 Form 5500-SF. The letter is not threatening, but...
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The Plan Sponsor Council of America’s Annual Survey shows that 2019 was a banner year for retirement plans—and doubtless a valuable lifeline for many during the COVID-19 pandemic.
For the third year in a row, the survey—PSCA’s 63rd Annual—found record contribution and participation rates....
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The Office of Information and Regulatory Affairs of the Office of Management and Budget has outlined the Pension Benefit Guaranty Corporation’s (PBGC) fall 2020 regulatory agenda, and the status of the rules that are part of it.
Proposed Rules
The following rules are in the proposed stage: ...
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Despite the many financial challenges brought on by the global pandemic, the good news is that saving for retirement continues to be a priority.
According to findings from T. Rowe Price’s 6th annual Retirement Savings and Spending survey, the average 401(k) savings rate has remained constant...
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Noting that the U.S. retirement system is not easy to navigate, a recent white paper calls for the creation of a retirement dashboard to help savers better manage and keep track of their savings.
“While it would not address systemic problems such as coverage, a dashboard could reduce the strain...
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How much will retirees owe in taxes on their retirement income? In a new paper, researchers estimate the taxes a group of recently retired households will pay on what they earn during their retirement.
In “How Much Taxes Will Retirees Owe on Their Retirement Income?” Alicia H. Munnell and Anqi...
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Most of the focus on retirement savings is on those who haven’t saved enough, or who lack access to the platforms to make saving enough easy. But even those that have done the “right” things can nonetheless have their retirement planning realities tripped up.
Here are three[1] retirement income...
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The Pension Benefit Guaranty Corporation (PBGC) has issued its interest rate assumptions for the first quarter of 2021.
On Dec. 14 the PBGC issued a final rule that amends its regulation on Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the asset allocation...
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The chances that bipartisan retirement security legislation could be acted on next year got a boost, as the American Retirement Association and witnesses at a Senate hearing urged Congress to act to help Americans save more for retirement.
Expanding the start-up credit for small businesses,...
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The IRS on Dec. 9 issued guidance that addresses certain provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE) Act Provisions that increase the automatic enrollment cap percentage and affect safe harbor plans, including safe harbor 401(k) plans and certain 403...
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The month may have ended on a down note, but November turned out to be the best month since 1987 for the Dow—and another good month for the average 401(k).
Among major US stock indexes, the Dow Jones Industrial Average (which crossed the 30,000 mark during the month) recorded its best monthly...
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