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Increasing private-sector retirement plan coverage in a shifting retirement landscape is a major factor behind legislation that would establish Rhode Island Secure Choice, says Rhode Island General Treasurer James Diossa. The measure would provide retirement plan coverage for private-sector...
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A variety of factors slow some individuals’ retirement saving, if not impede it outright—and one of them is student loan debt. A recent NTSA webinar looked at a step some entities pursue that affects those with loans as well as retirement saving—student loan forgiveness.
In a March 27 NTSA...
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A new study finds that Americans’ “magic number” for retirement has surged to an all-time high, jumping 15% in just a year and a whopping 53% since the onset of the pandemic.
As a result, Americans now believe they will need to save $1.46 million to retire comfortably, up from $1.27 million...
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Nearly 4 in 10 compliance professionals from asset management, investment adviser, and private markets firms have yet to evaluate Artificial Intelligence (AI) as a cybersecurity risk, according to the findings of a new survey. What’s more, a similar amount has concerns about how the Securities and...
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The digital edition of the Spring 2024 issue of Plan Consultant, ASPPA’s members-only magazine, has been posted online!
More than a quarter of the 90-odd SECURE 2.0 Act of 2022 provisions are effective this year. Most are optional, but still…In this issue’s cover story, an expert panel—Shannon...
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Add private-sector employees in Alaska and Wisconsin to those covered by state-run plans if their employers do not offer a retirement plan. Maybe.
That is, if the governments of both states enact bills that would create state-run retirement savings plans for private-sector employees who do not...
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The American Retirement Association (ARA) and sustainable markets advocacy organization Ceres have filed an amicus brief in the 5th U.S. Circuit Court of Appeals. It supports the U.S. Department of Labor’s (DOL) rule “that ensures retirement plan fiduciaries, including 401(k) sponsors, can consider...
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The Department of Labor’s Employee Benefits Security Administration (EBSA) has released a final amendment to Prohibited Transaction Class Exemption 84-14—also known as the Qualified Professional Asset Manager (QPAM) Exemption.
The QPAM exemption permits various parties related to employee benefit...
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The Treasury Department, the Department of Labor’s Employee Benefits Security Administration (EBSA), and the Pension Benefit Guaranty Corporation (PBGC) have announced that they are extending the period during which they will accept comments on the effectiveness of existing reporting and disclosure...
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The Social Security Administration (SSA) on March 29 announced that it is slashing the default overpayment withholding rate for Social Security beneficiaries from 100% to 10% or $10, whichever is greater.
The change went into effect on March 25, 2024. But it applies to new overpayments, not those...
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