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Retirement Income
The Pension Benefit Guaranty Corporation (PBGC) announced on Nov. 12 that it has updated the ERISA Section 4044 mortality table for 2021 valuations.
This table is used:
to determine liabilities when a single-employer plan terminates in an involuntary or distress termination; and
when a...
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In a Nov. 11 webinar, American Retirement Association Director of Legislative Affairs Andrew Remo took at look at where current legislative proposals stand in the wake of the elections.
Currently, Congress is in a “lame duck” session, the period between the election and the end of the 116th...
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Ruling that the public interest in the Small Business Administration’s (SBA) management of the PPP outweighs any limited private interest in nondisclosure, a federal judge has ordered SBA to release information about the recipients of Paycheck Protection Program loans.
Judge James E. Boasberg of...
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The American Retirement Association (ARA) has submitted a comment letter to the IRS about long-term, part-time (LTPT) employees.
The Nov. 2 letter was in response to the IRS invitation in Notice 2020-68 regarding how to reduce potential administrative burdens related to counting years of service...
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With the enactment of the Setting Every Community Up for Retirement Enhancement (SECURE) Act, the climate changed for multiple employer plans (MEPs) and pooled employer plans (PEPs). A Nov. 2 session of ASPPA All Access discussed factors facing service providers concerning these arrangements.
The...
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The 100 largest corporate pension plans’ funded status improved during October, says a new report. This comes after NEPC reported similar findings.
The Milliman 100 Pension Funding Index says that the funded ratio stood at 85.1% by Halloween, a 0.7-percentage point increase from the ratio of 84.4...
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The IRS on Nov. 6 issued final regulations that update the life expectancy and distribution period tables used for purposes of determining required minimum distributions (RMDs).
These regulations affect participants, beneficiaries and plan administrators of these qualified retirement plans and...
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Limiting plan loans from has come into sharper relief during the COVID-driven economic turbulence. A recent blog post suggests that there are many aspects of plan loans that are especially advantageous to participants at this time.
In “Should Retirement Plan Sponsors Be Limiting Plan Loans?,” an...
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Savings in 401(k) accounts and plans grew in 2019, but there is till room for improvement in savings levels and the scope of retirement plan coverage, say researchers in a recently released study.
In “401(k)/IRA Holdings in 2019: An Update from the SCF,” Alicia H. Munnell and Anqi Chen look at...
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After the economic strains of 2020—and all that has meant for retirement plans and those who serve and participate in them—there are signs of hope for 2021, said an industry expert in a recent webinar.
In the PenChecks webinar “The US Economy in 2021—Implications for the Pension Industry,” Alex...
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After the economic strains of 2020—and all that has meant for retirement plans and those who serve and participate in them—there are signs of hope for 2021, said an industry expert in a recent webinar.
In the PenChecks webinar “The US Economy in 2021—Implications for the Pension Industry,” Alex...
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Many deadlines for various forms of relief under the Coronavirus, Aid, Relief and Economic Security (CARES) Act have passed. But not all, and there are deadlines looming for provisions concerning loans and distributions.
Loan Repayments
The CARES Act provides that any loan repayments due...
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Funded status for typical corporate pension plans changed only slightly in October, says a new study.
According to investment consulting firm NEPC, the funded status of a typical corporate pension plan increased by 0.9%, while that of a frozen pension plan focused on liability-driven investment (...
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Across income levels, employees who participate in both their company’s Employee Stock Purchase Plan (ESPP) and their company’s 401(k) plan often contribute more to their 401(k).
According to the research from Fidelity Investments, those who participated in both plans tended to contribute an...
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Employer interest in financial well-being benefits appears to have plateaued, though the engagement with such programs seems to be deepening.
That interest level has leveled off at just about half (52%) of employers, and that includes those who said they were at least “interested” in implementing...
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The CalSavers Retirement Savings Board reports that employer registrations and employee participation have increased in CalSavers, the state-run program that provides retirement plan coverage to employees whose employers do not offer a plan.
The numbers reflect the passing of the new deadline by...
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New survey results reveal that Americans are increasingly concerned about their ability to manage the rising cost of living as they age.
According to the 2020 Retirement Risk Readiness Study from Allianz Life, nearly 6 in 10 (57%) respondents are worried inflation will make their basic retirement...
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In a month long associated with stock market crashes, the average 401(k) balance took a hit in October—but remains in the green for 2020.
On a historic basis, and despite the two worst stock market crashes in U.S. history (1929 and 1987), September tends to be worse for stocks (this year was no...
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Since the start of the pandemic in March, retirement plan contribution activity has been volatile, but there are some encouraging signs from both employers and employees, according to new data from Ascensus.
The firm notes in its October 2020 State of Savings report that over the course of the...
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Another multibillion-dollar 401(k) has been targeted in a fiduciary breach suit—but this time the focus isn’t fees, but the choice of target-date funds, and their alleged “abysmal underperformance.”
The suit (Cutrone v. Allstate Corp., N.D. Ill., No. 1:20-cv-06463, complaint 10/30/20) has been...
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