Guaranteed Income

VT Saves, the state-run program that provides retirement plan coverage for private-sector employees whose employers do not, is seeking an executive director to launch the program.  The executive director will implement a new statewide program and will work directly with the Treasurer, Deputy... READ MORE

The defined benefit plan is constructed to make promised benefits for future events, well beyond the period for which management and control of the plan occur. The actuary is engaged on behalf of the plan to make their best estimate of future events that will determine benefit payments resulting... READ MORE

Happy Bobby Bonilla Day! It’s that magical time of the year when the former New York Mets great collects a gargantuan check for having done little more than extremely savvy financial planning. The 59-year-old MLB vet hasn’t played in a major league game since the late 1990s, but the Mets still pay... READ MORE

In asking whether a lack of asset diversification in DC retirement plans has been a potential missed opportunity, the findings of a new study suggest the answer is yes.  More specifically, the Georgetown Center for Retirement Initiatives (CRI), in conjunction with CEM Benchmarking, set out to... READ MORE

I recently ran across a survey that claimed 7 in 10 DC plan sponsors were “taking steps” to solve the retirement income challenge… but that looks to have been “aspirational.” While the survey’s[1] intro cautioned that there was more to be done, that struck me as a remarkably high (and reassuring)... READ MORE

The government of Maine has enacted a measure that adjusts its state-run retirement savings program.  Gov. Janet Mills (D) on June 12 signed into law legislation that adjusts the Maine Retirement Savings Program, the plan that provides coverage to private-sector employees whose employers do not.... READ MORE

Participants in OregonSaves, the first state-run retirement plan for private-sector employees whose employers do not offer one, have now cumulatively saved more than $200 million through the program.  So reported the Oregon Retirement Savings Board and State Treasurer Tobias Read, who serves as... READ MORE

Nevada has become the latest state to provide retirement plan coverage for private-sector employees whose employers do not. The Nevada Senate passed legislation that would create a state program, SB305, on May 26; the Nevada Assembly followed suit on June 4.  The bill then went to Gov. Joe... READ MORE

The Pension Benefit Guaranty Corporation (PBGC) on June 14 issued the interest assumptions under the asset allocation regulation for plans with valuation dates in the third quarter of 2023. The assumptions are contained in a final rule that amends the PBGC’s regulation on Allocation of Assets in... READ MORE