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CalSavers, the state-run retirement plan that covers private-sector employees whose employers don’t offer a plan, is growing — but so far this year, the expansion in assets is outstripping that of registrations.
Registrations
Month-to-month growth in employer registrations was still...
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While they may not realize it, there is an opportunity for small employers to offer competitive retirement benefits, as only a third (34%) of small employers currently offering retirement savings to employees today, according to Fidelity Investment’s 2023 Small Business Retirement Index.
Of those...
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Almost 70% of near-retirees either failed or barely passed MassMutual’s latest Social Security retirement benefits quiz. Over one-third failed (35%), and another one-third received a D (34%).
More than a quarter of near-retiree respondents did not know that if they have a spouse, the other spouse...
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Talk about a timely topic—the passage and adoption of state-facilitated retirement savings programs (usually auto-IRAs) continues, with the latest, Minnesota, happening in mid-May.
It’s something that the Center for Retirement Initiatives (CRI) at Georgetown University’s McCourt School of Public...
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Resistance to retirement plan innovations (like automatic enrollment) have long been excused as being “too paternalistic” but there might be a better standard.
We’ve all heard it — concerns that imposing certain default choices on participants (and sometimes plan sponsors) are, however well-...
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Appearing at the Employee Benefit Research Institute’s 2023 Spring Policy Forum on May 11, Lisa Gomez, Assistant Secretary for the Employee Benefits Security Administration (EBSA), told attendees that the department is busy working on getting guidance out the door.
On the retirement side, Gomez...
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New research put stark numbers to the retirement savings coverage gap for communities of color. Voya Financial uncovered striking differences in overall workplace retirement plan participation, savings rates, and average account balances for underserved employee communities.
For instance, Black...
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Former New York Congressman and gubernatorial candidate Lee Zeldin pulled no punches in his condemnation of the Retirement Savings for Americans Act, which would establish a federal program to oversee private retirement plan saving and investing.
In an op-ed for Newsweek published Thursday, Zeldin...
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The Land of 10,000 Lakes is poised to become the next to adopt a measure creating a state-run retirement program that provides coverage for private-sector employees whose employers do not.
The state Senate approved the bill that would do so on May 11, and the House had done so 10 days earlier; the...
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An excessive fee suit where plan fiduciaries had prevailed on most issues — has now settled the remaining claims.
The suit — filed in mid-2020 by seven former employees of Schneider Electric Holdings, Inc. — had targeted Schneider Electric, the two committees that oversee the $4.5 billion plan,...
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