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I’ve heard that 10% of all small plan Pension Benefit Guaranty Corporation (PBGC) terminations are audited and at other times I’ve heard that the number is 33%. I’ve heard the PBGC audits are random.  What I believe is most audits are random, but some are due to red flags that come up during the... READ MORE
Most of us in the northern hemisphere experienced plenty of heat in July 2023. And private-sector pension plan funding was no exception, according to analysts.  Funded Status  The funded ratio of private-sector pension plans that Aon,  Insight Investment, October Three and Wilshire monitor... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) expects that both of its pension insurance programs—for single employers and for multiemployer plans—will remain not only solvent but robust for years to come.  The good news is contained in its FY 2022 Projections Report, which it released on Aug.... READ MORE
To better support retirement savers, Vanguard and the Retirement Clearinghouse (RCH) announced that they are expanding their relationship to include services to individual retirement account (IRA) holders.  According to the announcement, the expanded collaboration by the two firms will help... READ MORE
House and Senate Democrats quietly reintroduced bills on July 27 to require spousal consent for 401(k) distributions. H.R.5060 and S.2627 would “amend the Employee Retirement Income Security Act of 1974 to provide for greater spousal protection under defined contribution plans, and for other... READ MORE
Should you de-risk your pension plan? A recent analysis takes on the matter in light of plan finances and factors present this year.    In “Management of DB Finance 2023—a Framework,” October Three looks at de-risking in the context of defined benefit plan finance, as well as factors relevant in... READ MORE
Witnesses at a recent hearing called on the Massachusetts legislature to investigate the effects of the federal Windfall Elimination Provision and Government Pension Offset.  The Joint Committee on Public Service held a hearing on July 25 concerning Resolve S. 1656, which calls for an... READ MORE
A markup by the House Financial Services Committee that started with numerous delaying tactics and accusations from each party that the other wasn’t acting in good faith ended more than 12 hours later with the approval of several bills—mostly along partisan lines.   “Today, this Committee is... READ MORE
Building off the SECURE 2.0 Act and taking a page out of the “behavioral finance playbook,” two influential senators introduced bipartisan legislation to establish an automatic reenrollment safe harbor.  SECURE 2.0 soon will require new 401(k) and 403(b) plans to automatically enroll participants... READ MORE
Health issues can arise at any time. And during retirement, many may turn to their 401(k) for the funds to address them—but health savings accounts (HSAs) are another option, and a July 27 webinar took a look.  Sara Caddy, Benefits Manager and Vice President at Dimensional Fund Advisors, and Tara... READ MORE