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Editor’s Note: This is part II of a two-part series. Part I is available here.
Generation Z is looking ahead and shows a healthy regard and respect for their financial future, long-term. Studies show that they have a strong interest in financial literacy, saving and employer-provided retirement...
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While employers strive to address employees’ evolving needs, the results of a new survey find a disconnect between compensation and benefit offerings and employee preferences.
Franklin Templeton’s Voice of the American Workplace Survey, now in its fourth year, finds that employee expectations are...
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Recently, we explored the reasons why small businesses DON’T offer a retirement plan to their workers. But there are quite different—and positive—reasons for choosing to do so.
The obstacles that keep most small businesses from offering a retirement plan to their workers are an assortment of...
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What's in the episode?
‘Retirement provocateur’ Kathleen Kennedy Townsend played an instrumental role in the debate over retirement issues, resulting in significant policy ideas. A founder of the Georgetown University Center for Retirement Initiatives, the 40-year political veteran and former...
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A bill currently before the Georgia legislature would affect the exercise of fiduciary duty regarding the investment of retirement plan assets. The legislation includes a provision that would require a fiduciary to put the interests of participants and their beneficiaries ahead of “nonpecuniary...
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A big plan has struck a big cash settlement in an excessive fee suit involving the use of proprietary investment products in its 401(k) plan.
The suit was brought by a number of plaintiff-participants relating to the management of the New York Life Insurance Company Employee Progress-Sharing...
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A hearing that was billed as “taking a serious look at the retirement crisis in America” with a focus on improving the defined benefit system ended with witnesses agreeing that some reforms are needed, but calling for drastically different measures.
The Feb. 28 hearing was held by the Senate...
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Familiar 401(k) critic Teresa Ghilarducci testified before Congress on Feb. 28, claiming America’s retirement system is “severely broken” and seniors must either “work or rely on the kindness of strangers to dodge the increasing risk of elder poverty."
Ghilarducci, a professor at the New School...
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ASPPA is looking for presenters for its upcoming 2024 conference, which will be held Oct. 20-23 in Orlando, Florida.
The speaker nomination process enables individuals to nominate themselves or others, focusing on identifying expertise areas and selecting topics from a provided list. ASPPA...
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The states that offer a retirement program for private-sector employees whose employers do not have a new prospective member: Michigan. Legislation has been entered in the state House of Representatives that would create such a program in the Wolverine State.
The Retirement Savings Program Act, HB...
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Just as Congress gets ready to debate whether there is a “retirement crisis,” new survey results from an organization supportive of restoring defined benefit plans finds that Americans are increasingly worried about retirement.
According to the survey results from the National Institute on...
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Editor’s Note: This is part I of a two-part series.
It’s not unusual for older generations to look askance at their younger counterparts and dismiss them with a harumph at the thought that one day they will come to the fore. But some recent data suggests that in the case of the youngest...
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Congress’ watchdog agency apparently thinks so. That was one of the recommendations in a newly released report by the Government Accountability Office (GAO).
A “pension dashboard” could be useful in the United States to help participants track their retirement savings when they change jobs, but...
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The Department of Labor (DOL) has gone to court to protect retirement plan assets in a case of alleged embezzlement by a TPA.
The DOL says that an emergency temporary restraining order (TRO) has been issued by the U.S. District Court for the Western District of Pennsylvania against RiversEdge...
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Looks like an American Airlines participant-plaintiff who argued that plan fiduciaries didn’t act in participants’ best interests in including funds managed by firms that allegedly favored ESG interests will get his day in court.
Participant-plaintiff (and pilot) Bryan P. Spence filed suit in the...
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Sometimes the most mundane details can be overlooked—which, for a plan, entails risk. In fulfilling the myriad responsibilities attendant to offering and running a plan, a retirement plan committee can be a great help.
Navigating increasingly complicated benefits administration—and against a...
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Amid the recent attacks on the 401(k) savings system, the key Senate committee with jurisdiction over ERISA plans to hold a hearing next week to examine what it describes as “confronting the retirement crisis facing working class Americans.”
The Senate Health, Education, Labor, and Pensions (HELP...
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On Feb. 20, the American Retirement Association (ARA) sent a letter to the Internal Revenue Service (IRS) that addressed technical issues affecting certain SECURE 2.0 provisions. It noted a few that are of particular relevance to retirement plan sponsors and advisors.
More specifically, the ARA...
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What's in the episode?:
Academics are on the march, coming for the defined contribution retirement savings system with policy prescriptions that would fundamentally change employer-sponsored plans. The chorus of commonly heard criticism is that the system is failing; it only benefits the wealthy...
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The plan document is not a suggestion; it’s a roadmap to compliance and competent and effective administration. But it’s not always given the regard it deserves—which can imperil a plan and those whom it ultimately was written to serve.
Oops
Robert M. Kaplan, Director of Technical Education at...
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