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Employees are in the mood to save more for their retirement, and an increasing number of employers are tapping in to that sentiment, say recent reports.More than half of employees recently told the LIMRA Secure Retirement Institute that saving more is their top financial priority, and a majority of...
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A Willis Towers Watson study finds that most large employers now provide only defined contribution and other account-based plans to newly hired employees. “Retirement Offerings in the Fortune 500: A Retrospective” examines the primary retirement plans offered by current Fortune 500 companies...
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Now is the time to get up-to-date on developments in Washington and their impact on retirement plans. Learn from someone in the know, Craig Hoffman, ARA’s General Counsel.
Late last year, President Trump signed into law the budget reconciliation bill popularly known as the “Tax Cuts and Jobs Act...
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Poor savings rates, high debt levels, the frequent incidence of living paycheck to paycheck — all are among the ingredients in the recipe for financial stress. Financial education can be an antidote, but not in the traditional ways it is provided, suggests a recent study.
In “So Many Courses, So...
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What is the best way to increase a household’s affordable, sustainable standard of living in retirement? A recently released paper discusses the relative strengths of saving more and working longer to bring that about.The debate over the merits of working longer vs. those of saving more is not new...
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Workers who have participated in an employer-sponsored plan are much more likely than those who have never participated to report that they have recently tried to figure out how much retirement income they will need, according to new research.
Overall, 41% of those with access and currently...
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TPAs and other retirement plan professionals may find it useful to know that the number of plan sponsors calculating and benchmarking fees in the past 12 months has increased — and whether that is having an impact.A recent survey by Callen says that the number of plan sponsors that calculated their...
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Speaker of the House Paul Ryan (R-WI) and House Minority Leader Nancy Pelosi (D-CA) have named the four Republicans and four Democrats from the House of Representatives who will serve on the new Joint Select Committee on the Solvency of Multiemployer Pension Plans.The bipartisan, bicameral...
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April Fools Day is not far off. And a plan would be wise to remember that the joke can be on it if it fails to recall that April 1 is the deadline for making the first required minimum distribution (RMD) to terminated vested participants who attained age 70½ in 2017 and to participants older than...
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Concerned that the Labor Department’s fiduciary rule could be pared back, Maryland is considering extending fiduciary duty under state law.The Maryland Senate Finance Committee held a hearing on proposed legislation on Feb. 22, following a Feb. 16 hearing on the legislation by the Maryland House...
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In a Feb. 21 letter to Acting IRS Commissioner David Kautter, Rep. Richard Neal (D-MA) has requested that the IRS reevaluate the new Voluntary Correction Program (VCP) user fees announced earlier this year. Neal is the Ranking Member of the House Ways & Means Committee.
In Revenue Procedure...
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In a 2017 report by PricewaterhouseCoopers (PwC), a survey of 1,600 workers found that 53% are feeling financial stress, which results in negative impacts that impose costs in the form of less productive employees who may take more time off to deal with financial matters. Additionally, financially...
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Updated data from government filings finds that plans, participants and benefits all increased between 2014 and 2015 — but for the first time since 2008, total amount of assets held by pension plans decreased.While the data is now a couple of years old, it is “official,” according to the Private...
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In a recent blog post, Fred Reish focuses on the issue of “reasonable compensation” for RIAs, broker-dealers and their advisors for their services to retirement plans and IRAs (qualified accounts), and what, if any, changes will be made to that requirement, going on to state that the myth here is...
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Unexpected events can be expected. Or should be. And doing so can help a retiree to be prepared. So suggests a recent report that has implications not only for retirees but also retirement plan professionals.Anna Rappaport, Society of Actuaries Committee on Post-Retirement Needs Chair,” looks at...
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Crystal balls and peeks into the future can be hard to resist. Sometimes they can even motivate changes in behavior, and a recent study says that principle holds regarding retirement plans. The finding: give participants projections of their monthly income in retirement, and they will hike their...
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Last week the Massachusetts Securities Division filed charges against Scottrade for knowingly violating its internal policies regarding implementation of the DOL fiduciary rule — an action that plaintiffs seeking to overturn that rule say validates their concerns.Those concerns — outlined in a...
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Growing U.S. bond yields and changes to corporate taxes could pay dividends for private-sector DB plans, some analysts argue.There were hints of DB plans’ improving fortunes by the end of January, Reuters says, when the estimated aggregate funding status of DB plans sponsored by the Standard &...
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Please note: On Saturday morning Feb. 17 we will be performing some minor system upgrades. While we don’t anticipate any disruption in service, you might experience slower response times during this period.
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It was a quiet Tuesday afternoon. The first State of the Union address from President Trump was to take place that evening. No one expected any interesting government releases before the speech. At 3:30 p.m., I made my routine check of the Tax Court website for opinions that were issued.[1] There...
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