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CalSavers, one of the first state-run programs that provides retirement plan coverage for private-sector employees whose employers do not, continues to grow—especially in assets.
As one of the longest-lived such programs, CalSavers provides a useful snapshot regarding how such plans function and...
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The climate is warming. No, not that one—the climate for annuities. Interest in them among retirement investors is rising, according to recent reports.
This actually is not a new trend, says LIMRA. They report that interest in annuities stood at 33% of those whom they surveyed in 2018 but “jumped...
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As we approach the 50th anniversary of ERISA, the SECURE 2.0 Act is continuing to dominate the thoughts of plan sponsors, advisors, and administrators—and is on the agenda of the upcoming 2024 ASPPA Spring National Conference.
The conference is just around the corner and I’m excited to hear from...
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So nice to get a break from deadlines as the weather heats up. Hope your vacation and concert schedule is full of fun times ahead. Perhaps you will prepare a hundred or so Cycle 3 document restatements during down time?
Remember preparing your 2023 PBGC Forms that reflected big asset losses in...
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One week after the release of the final retirement security rule, senior officials with the Department of Labor’s Employee Benefits Security Administration (EBSA) defended the rollout of the fiduciary rule while taking a deeper dive to explain some of the key changes.
The DOL on April 23...
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Editor note: This story appeared in the Spring 2024 Plan Consultant magazine issue.
When a client informs your firm that they’re adopting a cash balance (CB) plan alongside their existing profit sharing 401(k) (PS/k) plan, it’s crucial to understand the implications and necessary adjustments....
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TPAs and entrepreneurs are now focusing on a new trend: combining cash balance plans with 401(k)s. This approach caters to profit-rich entrepreneurs seeking significant tax deductions, presenting a valuable opportunity for TPAs.
As a TPA and entrepreneur, you always seek new opportunities to...
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While sympathizing with the participant-plaintiffs in the case, a federal judge finds no obligation to use “reasonable” life expectancy and interest rates in a pension calculation conversion.
Plaintiffs Thomas Reichert, Stuart Buck, and Kenneth Henrich (on behalf of themselves and others similarly...
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Editors’ Note: This is part IV of a four-part series about the importance of aligning the retirement benefits an employer offers with employees’ interests and needs. Part I is here; Part II is here; Part III is here.
Of course, an employer does not want to waste time and resources providing...
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Of all the promising provisions in the SECURE 2.0 Act of 2022, one of the most expensive (as the federal government does math, anyway) is likely to be one of the most challenging to implement.
It’s not effective till 2027, so there’s still some time to figure it out—but I’m talking about the new...
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