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It’s no longer just states that are looking at the notion of expanding private sector retirement plan coverage.New York City Public Advocate Letitia James on Feb. 26 introduced legislation creating a commission of experts to study the establishment of a pension fund for private sector workers in...
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What do the Voice of America, the BBC, an Indiana tree service firm, a Michigan pediatrician and a midwestern TPA all have in common? They all had their websites defaced by a group of hackers with ties to the Iranian Revolutionary Guard.In the past, occurrences such as these were treated as “cyber...
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What do the Voice of America, the BBC, an Indiana tree service firm, a Michigan pediatrician and a midwestern TPA all have in common? They all had their websites defaced by a group of hackers with ties to the Iranian Revolutionary Guard. In the past, occurrences such as these were treated as “cyber...
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If the Government Accountability Office (GAO) has its way, plan sponsors will have a new reporting obligation to the Department of Labor. Specifically, GAO recommends that DOL improve oversight by requiring plan sponsors to notify the agency when they implement lump sum windows, and coordinate with...
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The recent White House budget proposal sets aside $6.5 million in funding for the Department of Labor, along with waiver authority, to support state efforts to implement state-based automatic enrollment IRAs or 401(k)-type programs.Currently more than a dozen state legislatures are actively...
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If you are not a Business Managers and Owners Council (BMOC) member you really need to consider becoming one. This is an organization dedicated to business owners or key decision makers of ASPPA member firms who focus on retirement plan administration or actuarial services. I recently attended the...
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A 401(k) revenue-sharing lawsuit finally got its day before the U.S. Supreme Court.While the nation’s high court was ostensibly focused on how ERISA’s statute of limitations was to be applied in challenging fiduciary actions, there was also a brisk discussion among the justices about the what, how...
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Even as the economy has bounced back from the dark days in the late 2000s, an overwhelming number of working-age Americans still have concerns about their finances.A new study conducted by Harris, on behalf of the Million Dollar Round Table reports that 84% of Millennials (ages 18-34) and 83% of...
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