Advertisement
News
California has joined neighboring Oregon in offering a functioning state-run retirement plan for private-sector employees whose employers do not offer a retirement plan. The pilot for CalSavers formally launched on Nov. 19. Calpensions had announced recently that the launch was impending....
READ MORE
Those served by the Pension Benefit Guaranty Corporation’s (PBGC) single-employer program have something to smile about — the PBGC has reported that the program now shows a positive balance.
The news, contained in the PBGC’s Fiscal Year 2018 Annual Report, shows progress at a much faster rate than...
READ MORE
A group of Senate Democrats have introduced a bill “designed to help more working families and middle-class Americans save for retirement” – and it brings back MyRA.
The legislation – the Encouraging Americans to Save Act (EASA) – enhances retirement savings incentives by:
restructuring the...
READ MORE
What’s the best solution where saving for retirement is not a priority? Meet workers where they are with the right kind of liquidity! Don’t agree? Well, what about the next best solution? You guessed it: help workers avoid the wrong kind of liquidity!
No recent headline includes more hyperbole...
READ MORE
Nobody likes to be thought of as “average” – so why do people spend so much time worrying about the “average” 401(k) balance?
These averages are reported with some regularity by any number of providers (based on the records for which they have access), and sometimes by academics drawn from...
READ MORE
The alarm bells have long been sounding that many retirees are in for a rude shock when they find they didn’t save enough. A recent blog argues that information is a key to improving retirement savings and softening the blow.
In “Future Shock — Do Income Estimates Affect Saving Behavior?” LIMRA...
READ MORE
Twice a year, the North American Actuarial Council (NAAC) meets in person to exchange information on current activities within each organization and discuss profession-wide issues. It also encourages coordination and cooperation among the North American actuarial organizations, including:
American...
READ MORE
The Senate Finance Committee on Nov. 15 in a 25-2 vote approved Gordon Hartogensis to be Director of the Pension Benefit Guaranty Corporation (PBGC). Their action sends Hartogensis’ nomination to the Senate floor for a vote by the full chamber.
Finance Committee Chairman Orrin Hatch (R-UT) said in...
READ MORE
The IRS has announced that it has granted tax relief to certain victims of wildfires in California. The IRS action includes relief from penalties on payroll and excise tax deposits due on or after Nov. 8, 2018, and before Nov. 23, 2018, which it says will be abated as long as the deposits are made...
READ MORE
The Department of Labor’s Employee Benefits Security Administration (EBSA), the IRS and the Pension Benefit Guaranty Corporation (PBGC) on Nov. 14 released advance copies of the Form 5500 Series forms to be used for 2018 reporting, as well as the related instructions.
EBSA reports that the 2018...
READ MORE