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The Joint Select Committee on Solvency of Multiemployer Pension Plans was formed with the aim to improve the solvency of multiemployer pension plans and the Pension Benefit Guaranty Corporation. As part of the process, the Committee would like input from all stakeholders. ACOPA is going to...
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While both the number of, and enrollment in, health savings accounts (HSAs) have grown significantly since HSAs first became available in 2004, data suggests that that growth may be slowing.
In 2017, enrollment estimates in HSA-eligible health plans vary considerably — from 21.4 million to 33.7...
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The IRS has suggested that employers and organizations refresh IRA holders’ knowledge of, and attention to, what they can do and are required to do concerning their accounts. In Outreach Corner 2018-5, which it issued on May 8, the IRS offered sample language for that purpose.The IRS suggests...
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Employers helping to facilitate employees’ financial wellness is becoming more widespread. The benefits of this for employees is obvious, but a session at the recent Plan Sponsor Council of America Annual Conference held in Scottsdale, AZ offered another take: it can be good for an employer’s...
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One of the most vocal critics of the Labor Department’s fiduciary rule is leaving the Securities and Exchange Commission — with a mammoth advice proposal out for public comment.
SEC Commissioner Michael Piwowar announced May 7 that he intends to step down from the SEC on July 7, after serving...
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Is a glass half empty or half full? It can depend on one’s perspective. And in the case of how well retirement plans – and those saving through them – are doing, it also can depend on the data one gathers and considers. And how one interprets it.
In a May 1 session at the Plan Sponsor Council of...
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Americans continue to feel better about their retirement prospects, especially if they are healthy, have a defined contribution plan — or are already retired!
This according to the 28th annual Retirement Confidence Survey from the non-partisan Employee Benefit Research Institute (EBRI). The survey...
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June 10 through June 12, 2018, the all-new ARA Women in Retirement Conference (WiRC) will be held in Burlington, VT at the Hilton hotel. This conference will be a gathering of some of the best, brightest and most innovative women business owners and managers in the retirement plan service industry...
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Communicating with participants is bread and butter stuff – a reminder that in the end, benefits administration is about real people. Benefits administrators from two employers in a May 1 session of the Plan Sponsor Council of America’s annual conference in Scottsdale, AZ shared their experiences...
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Rules for fiduciaries – and what the term itself even means – figured prominently in a May 2 session of the Plan Sponsor Council of America Annual Conference in Scottsdale, AZ. An expert panel offered their take on the rule (rules?), the fate of such guidance and what it all means.
Sharing their...
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Future retirees expect to receive significantly more in benefits than what they actually will receive, setting themselves up for potential financial difficulties in retirement, new survey results show.
According to the Nationwide Retirement Institute’s 5th annual consumer Social Security survey,...
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The National Tax-Deferred Savings Association (NTSA) and the American Retirement Association are pleased to announce the publication of Best Practices for 403(b) and 457(b) Plans.
The manual is designed to provide employers, consultants, distributors, product providers and TPAs with the...
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A panel of experts at the Plan Sponsor Council of America’s (PSCA) annual conference in Scottsdale, AZ, on May 1 offered their take on some of the critical issues and uncertainties facing retirement plans, plan sponsors and the professionals who serve them, as well as the influence of the federal...
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It is a question that has puzzled philosophers and scientists for centuries: which came first – the chicken or the egg? Similarly, an updated version of a classic survey of retirement confidence finds some interesting attributes among those who are more confident about their prospects – but are...
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Leading ERISA legal minds believe the Securities and Exchange Commission’s proposals to establish new standards of conduct for broker-dealers (BDs) and investment advisers (IAs) still need a lot of work.The SEC on April 18 voted 4-1 to release for public comment two new rules and one new piece of...
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My schedule – and aversion to crowds – means that I rarely see a new movie the first weekend it comes out (a rare exception – Avengers: Infinity War).While this means that there are times when I’m the only one in the office the following Monday who hasn’t seen the latest blockbuster (and thus can’t...
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If you’re a young Millennial, can you imagine what you and the world will be like when you’re 80? To get a better sense, a new study examines how the largest generation in the current U.S. workforce envisions progress over the next 50 years.Being at the center of changes being driven by technology...
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Private-sector defined benefit plans made “significant” funding improvements in 2017, say recent studies. But the good news doesn’t stop there.
Milliman, in its 2018 Corporate Pension Funding Study, bases its findings on an analysis of the financial disclosures of the 100 largest corporate DB plan...
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The U.S. Court of Appeals for the 8th Circuit has upheld a ruling by the U.S. Tax Court in Pizza Pro Equipment Leasing, Inc. v. Commissioner of Internal Revenue that a defined benefit plan sponsor owed excise taxes and additions to tax related to its operation of the plan. The court issued its...
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The Wall Street Journal reports that the Labor Department is examining whether Wells Fargo has been pushing participants to move money from their 401(k)s into more expensive IRAs at the bank.The report (subscription required), which attributes the story to “a person familiar with the inquiry,” says...
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