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Rhode Island is on the road to possibly becoming a member of the Secure Choice Club. A bill has been introduced in the state’s House of Representatives that would establish a state-run retirement program that would cover those whose employers do not offer one.
Rep. Evan P. Shanley (D-East...
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Plan professionals may find it useful to know that plan sponsors continue to make participants’ retirement security a priority, and are boosting their work to enhance it.
JP Morgan, in its fifth Defined Contribution Plan Sponsor Survey, which provides the results of an online survey of 788...
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It’s a big year for the implementation of certain SECURE 2.0 provisions. While many of the items are optional, it represents an excellent opportunity to explain what they mean and their potential impact.
“There are two that are the big standouts,” Kevin Gaston said when asked about the provisions...
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The U.S. retirement system is a success—but we still can do better. That was the message from an expert panel that recently examined the gaps in that system and made suggestions regarding how to fill them.
Pete Swisher, Managing Partner at Group Plan Systems, and Annie Messer, President, Member...
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The Pension Benefit Guaranty Corporation (PBGC) has issued a final rule adjusting for 2024 the civil penalties for failure to provide certain notices or other material information and for failure to provide certain multiemployer plan notices. The PBGC is required to amend its regulations annually...
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The IRS has issued initial guidance to help employers with implementation of pension-linked emergency savings accounts (PLESAs).
Authorized under the SECURE 2.0 Act of 2022, PLESAs are individual accounts in defined contribution plans—designed to permit and encourage employees to save for...
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“Best condition this century.” Or, “improved” but “fragile.” Both are characterizations of the state of pensions in 2023; which applies depends on which pension system one is talking about.
Better, But…
State and local pension plans saw improvement in 2023, but there is still plenty of room for...
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“If this is the law, then that would be news to Congress and the regulatory agencies, which have declared for decades that forfeitures can be used in this manner,” says a motion to dismiss a lawsuit alleging a fiduciary breach in offsetting employer contributions with forfeitures.
The motion to...
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From New England to Key West, from the Atlantic to the Great Plains, there are bills before state legislatures that would expand retirement plan coverage for certain public-sector employees.
Rhode Island
Rep. Patricia Serpa (D-West Warwick) on Jan. 5 introduced HB 7026, a measure that would...
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With several references made to the movie Groundhog Day, witnesses testifying at a House subcommittee hearing to examine the DOL’s proposed investment advice fiduciary rule suggested the proposal goes beyond its legal authority and called on Congress to act before the guidance ends up in litigation...
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