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The parties in yet another proprietary fund suit have come to terms, rather than go to trial.
The defendants here are Jackson National, sued by an employee/participant (Becky A. Matthews Pease) who had charged that 89% of the $608,784,892 in plan assets were “…invested in high cost and poorly...
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Much is said about the need to increase retirement savings and access to plans, but a recent report on savings says that there is some good news about retirement savings.
In its annual savings trends report, Ascensus includes data on retirement savings in the results, and it notes that there are...
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The IRS has announced that it has granted tax relief to certain victims of Hurricane Michael in Alabama. The IRS action includes relief from penalties on payroll and excise tax deposits due on or after Oct. 10, 2018, and before Oct. 25, 2018, which it says will be abated as long as the deposits are...
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The Department of Labor (DOL) wants to know what you think about auto-portability.
In a Nov. 7 request for comments, the DOL noted that employees leaving their current place of employment with small account balances in the company’s 401(k) plan often either take a distribution of their retirement...
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UPDATED NOV. 8, 2018
As expected, the Democrats took control of the House of Representatives in the congressional midterm elections, portending a major shift in focus for retirement policy issues.
Currently the party affiliation in the House stands at 219 Democrats and 193 Republicans. In the...
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CalSavers, the state-run retirement plan for private-sector employees whose employers do not offer a retirement plan, is set to launch a pilot on Nov. 19, Calpensions has announced.
The pilot is expected to start with about 20 diverse employers and grow to 50 or more. The first contributions to...
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Would you like a big payment now, or smaller payments at regular intervals for many years? When that question was posed by researchers in the context of retirement benefits, a majority chose slow and steady.
In a recent study of employees with at least $100,000 in assets nearing retirement and...
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Several of the most infamous stock market declines in history have happened in October – which turned out to be a bit of a fright for the average 401(k) balance.
Snapping a long winning streak, estimates from the nonpartisan Employee Benefit Research Institute (EBRI) note that the average 401(k)...
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At a recent event in Washington, SEC Commissioner Kara Stein provided her take on retirement readiness in the United States and what she thinks can be done to improve it.
In a conversation with the Brookings Institution,Stein painted a sobering picture. “Although everyone’s ideal retirement might...
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A new report notes that while longevity is increasing, the number of years Americans spend in retirement has not changed much over the last generation because they’re also working longer.
In “The Aging Economy: Improving with Age,” BMO Wealth Management notes that the Department of Health and...
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