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I have been blessed to be part of a quickly growing TPA and actuarial firm. I love the energy and opportunities. However, growth does come with its own set of challenges. One of our biggest challenges has been hiring experienced administrators. So, 5 years ago, we embraced hiring remote employees....
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Remember the ASB’s request in July of 2014 for comments on the topic of ASOPs and Public Pension Plan Funding and Accounting? If you are like me and do not focus on public plans, you probably did not pay any attention to the Pension Task Force that was established in December 2014 to develop...
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A bipartisan bill that its sponsors say will provide greater flexibility and access to small business employees and their employers seeking to utilize SIMPLE plans as an option for saving for retirement has been introduced in the U.S. Senate.
The SIMPLE Plan Modernization Act, introduced July 13 by...
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A good offense is often the best defense. A maxim used in many contexts, and a July 10 ASPPA Webcast suggests that taking extra care to ensure that your Form 5500 is correct is one of them.In “Resolving 5500 Filing Issues,” Kristina G. Kananen, QPA, QKA, DC Customer Support for DATAIR Employee...
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You’ve doubtless at some point in your career had someone walk up to you and say “I’ve got good news, and I’ve got some bad news.” Well, there was good news – and some not-so-good news about plan designs and participant behaviors in a recent industry survey.
According to T. Rowe Price’s 10th...
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A recent Wall Street Journal article raises the spectre of a retirement “crisis” in America. The WSJ article specifically claims Baby Boomers are less prepared for retirement than prior generations. In fact, society in general is much better off today than in the past. The article misrepresents the...
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Many American workers are still recovering from the Great Recession, but most are focused on saving for retirement and have varying degrees of confidence they will be able to retire comfortably, according to a comprehensive study on worker perspectives.
The Transamerica Center for Retirement...
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With concerns about healthcare costs looming large for American workers, a key congressional committee just took a major step to boost health savings accounts.
The powerful House Ways and Means Committee over two days (July 11-12) separately approved a package of 11 bills aimed at expanding...
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It is not required that participants be educated. Nonetheless, there is an argument to be made that it is worthwhile to educate them, and research has bolstered its importance in building participants’ retirement readiness. A recent blog entry has offered some tips on how to be effective in that...
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While few current retirees take a job in their “golden years,” a new study suggests that large percentages of future retirees expect to continue working during retirement, driven by uncertainty about Social Security and their own financial preparedness.PGIM Investments’ “2018 Retirement...
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