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Guaranteed Income
Like trees whose green leaves are mixed with the first ones brushed by Autumn’s paintbox, the results for private-sector pension plans were mixed in September.
By a variety of measures, September was a pushmi-pullyu for DB plans, according to several analyses. Liabilities down, funded status up,...
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For the next 10 years, the Social Security trust funds will have a positive balance. But balance sheet solvency after that will be another matter, says the Congressional Research Service (CRS).
In its latest Social Security Primer, updated Oct. 2, 2023, the drumbeat the CRS hits is little...
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A few years ago, my wife went to a garage sale and bought a box of old books for $25. She came home as excited as I had ever seen her. Why? One of the books was an 1831 edition of The Federalist Papers. We searched online and were thrilled to see an estimated value of $500. Those poor sellers had...
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Concerns about increasing partisanship in traditionally bipartisan retirement policy and legislation was the theme of a conversation between Brian Graff and Preston Rutledge at the ERISA 403(b) Conference in Washington, D.C., on Oct. 2.
Graff, CEO of the American Retirement Association, and...
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Uniformity and universality are not hallmarks of retirement plan coverage. A new report offers a look at who in the private sector is most likely to have access to a plan and to be covered.
The Department of Labor’s Bureau of Labor Statistics (BLS) on Sept. 21, 2023 released the March 2023...
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Analysis of the first state-sponsored retirement plan for uncovered workers—OregonSaves—supports earlier findings that auto-IRAs do, in fact, close the coverage gap.
More specifically, a new paper examined Oregon’s program, started in 2017, which requires employers who did not offer any workplace...
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The Pension Benefit Guaranty Corporation (PBGC) has made some changes to the instructions for plans paying premiums for plan years beginning in 2023, including instructions for each data element that must be reported.
The filing requirements for 2023 are almost identical to those for 2022....
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The timing of when one leaves the workforce has a variety of effects—and a recent study examines whether, and how, it affects one’s lifestyle during retirement.
In “Retirement Consumption and Pension Design,” National Bureau of Economic Research Working Paper 31628, researchers study whether...
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Where do things stand regarding retirement assets and plan participation in the United States? Two agencies give us a look.
Assets
U.S. retirement assets as of New Year’s Eve in 2022 stood at a total of $37.8 trillion, says the Congressional Research Service (CRS) in U.S. Retirement Assets: Data...
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In 2023, CalSavers was beset by the summer doldrums. The CalSavers Retirement Savings Board reports that this last summer, the program grew by some measures, but remained stable or even shrank slightly by others.
Employer registrations were lower at the end of summer than they were at its start;...
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The Congressional Research Service (CRS) has released a report concerning the proposals for a new proportional formula for use with the windfall elimination provision (WEP).
Specifically, in “The Windfall Elimination Provision (WEP) in Social Security: Proposals for a New Proportional Formula”...
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Democrats have reintroduced a bill during President Biden’s ongoing battle over student debt forgiveness to restore federal protections for Social Security benefits to prevent them from garnishment by the federal government for the repayment of all non-tax federal debt.
Sen. Ron Wyden (D-Ore.)...
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Amid ongoing market volatility, it’s little wonder that plan participants are keeping a close eye on their retirement account balances, and they increasingly are doing so via mobile apps.
As a result, mobile apps have taken center stage as critical tool for retirement investors, according to J.D...
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The findings in a new survey suggest retirement plan professionals need to optimize Social Security benefits with clients, as large percentages of respondents across generations do not have a firm grasp of how the program works.
Nearly half (49%) of U.S. adults aged 18 or older believe that they...
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The Pension Benefit Guaranty Corporation (PBGC) on Sept. 12 issued the interest assumptions under the asset allocation regulation for plans with valuation dates in the fourth quarter of 2023.
The assumptions are contained in a final rule that amends the PBGC’s regulation on Allocation of Assets in...
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Any retirement fund invests its funds in some way to help them grow, and that includes those run by states. A look at how CalSavers handles the investment of its funds sheds some light on how one of the largest state-run retirement plans fosters growth of their funds.
Assets
CalSavers had assets...
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Everyone, relax. There is no retirement savings “crisis,” and you’re probably saving enough for retirement.
That’s the message in a recent op-ed in The Wall Street Journal, and a working paper from the American Enterprise Institute’s Andrew Biggs, a frequent critic of what he says are...
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The findings in a new survey suggest retirement plan professionals need to optimize Social Security benefits with clients, as large percentages of respondents across generations do not have a firm grasp of how the program works.
Nearly half (49%) of U.S. adults aged 18 or older believe that they...
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CalSavers has expanded the range of services for which it is seeking professional assistance.
On Sept. 5, CalSavers issued an RFP (request for proposals) announcing that it is seeking a contractor to provide investment consulting services. CalSavers, the state-run program that provides retirement...
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Those lazy, hazy, days of summer lived up to their name this year: Private-sector pension plans showed only slight changes in status in August by a range of measures, according to multiple reports.
Funded Status
Funded ratios for private-sector defined benefit plans showed slight changes from...
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