Advertisement
News
Individual retirement accounts comprise 30% of U.S. retirement market assets and 11% of all household financial assets, which amounted to $7.3 trillion at the end of the third quarter of 2014. And just over one-third of all U.S. households — 41.5 million — had IRAs by the middle of 2014. In “The...
READ MORE
Legislation just introduced in the Oregon State Senate brings the Beaver State a step closer to establishing a state-run retirement savings program.The legislation, backed by the Oregon Senate Majority Leader Diane Rosenbaum (D-Portland), would create an Oregon Retirement Savings Board tasked with...
READ MORE
ASPPA Connect will not appear on Monday, Feb. 16, in observance of Presidents Day. A comprehensive federal holiday born of the close proximity of the birthdays of George Washington and Abraham Lincoln, it’s more than just a day to sleep in — it was set aside in honor of our nation’s chief...
READ MORE
Floridians who take loans against their retirement plans have to pay a state tax on those distributions. But the Florida House of Representatives is considering a bill that would change that.State Rep. W. Gregory Steube (R-73) in January introduced HB 101, a measure that would exempt plan loans...
READ MORE
If the Senate Committee on Homeland Security and Government Affairs has its way, the Department of Labor has some ’splaining to do on its fiduciary regulation reproposal.In a Feb. 5 letter from Committee Chairman Ron Johnson (R-Wisc.) to Secretary of Labor Thomas Perez, the committee requests that...
READ MORE
The world’s pension assets grew 6% last year, and now amount to around 84% of global Gross Domestic Product (GDP), substantially higher than the 54% recorded in 2008.That growth means that global institutional pension fund assets in the 16 major markets have now reached a new high of $36 trillion,...
READ MORE
The Department of Labor’s Employee Benefits Security Administration (EBSA) on Feb. 4 updated five frequently asked questions concerning electronically filing the Form 5500 via the EFAST2 system.Following are the changes EBSA made: FAQ 4. This FAQ concerns how to submit a delinquent or...
READ MORE
U.S. company-provided pension plans got mixed news from BNY Mellon Investment Strategy and Solutions Group (ISSG) concerning how they fared in January 2015. The good news: assets of a typical plan grew 1%. The bad news: despite the higher assets, funded status fell by 4.9 percentage points from the...
READ MORE
The IRS cautions that entering incorrect information — or in some cases, leaving a field blank — on the Form 5500 increases the likelihood of being targeted for a compliance check.The IRS cites the following examples of these types of errors: Sponsors incorrectly entered 0 participants or left...
READ MORE
A new survey finds that more than three-quarters (76%) of Baby Boomers who retired within the past five years felt “in control” of their decision to retire.But while very few new retirees who felt in control leading up to their retirement day have second-guessed themselves (98% say they are...
READ MORE