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With more than a third of the U.S. workforce said to be currently engaged in temporary, contract or on-demand work, a bipartisan group of senators has reintroduced legislation to test “innovative portable benefit designs” to help level the playing field for these workers who lack access to benefits... READ MORE
Minnesota became the latest state to officially launch a state-sponsored retirement plan for private-sector employees lacking coverage.  Gov. Tim Walz (D) signed HF0782, the measure that creates the Minnesota Secure Choice retirement program, into law on May 19, making it one of 12 states offering... READ MORE
This is the time of year when the nation’s graduates line up for accolades (and their diplomas). It is, for them, a beginning—a commencement of a new phase in their life.  But ahead of that, most are given the “opportunity” to hear some words of wisdom and inspiration from an individual that they... READ MORE
A title like this one was bound to happen; and I was tempted to publish it on April Fool’s Day—except that it’s really not a joke. Where it comes from is the simple fact that any DC lifetime income program (ok, why not, let’s use the acronym DCLIP while we’re at it) that guarantees lifetime income... READ MORE
Retirement readiness remains a major challenge for many of today’s working-age households that may need to save more and/or work longer to improve their prospects for a secure retirement.  That’s according to the Center for Retirement Research’s newly released National Retirement Risk Index (NRRI... READ MORE
Citing an “unlawful decision to elevate unrelated policy goals over the financial health of the Plans,” a new participant suit has charged three New York plans with jeopardizing the retirement security of plan participants. More specifically, the suit (Wayne Wong v. NYCERS, TRS and BERS) targets... READ MORE
April, it has been said, is the cruelest month. No offense to Chaucer, but CalSavers — the Golden State’s state-run retirement plan for private-sector employees whose employer do not offer one —  may beg to differ. In the fourth month of 2023 its total assets surpassed half a billion dollars. ... READ MORE
Concern about Social Security is as perennial as it is rife. A panel of experts in a recent seminar offered some suggestions for addressing the challenges facing the system.  Panelists in the recent National Institute on Retirement Security (NIRS) webinar “Social Security: What’s Next and New... READ MORE
With inflation running at record levels last year, the IRS provided a sizeable boost to the inflation-adjusted health savings account (HSA) limits for 2024, as determined under Section 223 of the Internal Revenue Code.  The announcement came in Revenue Procedure 2023-23, released May 16.  HSA... READ MORE
Harry T. Eidson, FSPA, CPC, a Texas-based actuary, truly embodied vision and grit coming out of the wild west of pension plans from the 1940s until ERISA was enacted in 1974 by collaborating to found ASPA on Halloween 1966! In memory, honor, and recognition of the mission and values that have... READ MORE

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