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An industry-leading benchmark study of non-qualified deferred compensation (NQDC) plans finds that, while recruitment and retention continue to be the top goal for offering NQDC plans, other reasons for doing so are rising quickly in the ranks.
Though these plans are still primarily used to...
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While inflation and market volatility eased somewhat over the past year, that hasn’t necessarily resulted in a boost to American workers’ retirement and financial confidence.
According to PGIM’s new RetireWell Confidence Index, workers’ retirement and financial confidence have lingered at “below...
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Will your 401(k) be chopped by the Chiefs—or find gold with the 49ers?
That’s what adherents of the so-called Super Bowl Indicator[1] would likely conclude, after all. It’s a “theory” that when a team from the old National Football League wins the Super Bowl, the S&P 500 will rise, and when a...
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Editor's note: This article appears in the latest Plan Consultant Magazine. Click here to read the new magazine issue.
Two of the most important parties to a successful retirement plan are the third-party administrator (TPA) and the advisor. While other key pieces operate somewhat stand-alone,...
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Despite the SECURE and SECURE 2.0 acts essentially making it free for small business owners to offer a retirement plan, new research finds that many are still harboring old excuses for not providing one.
The research published by the Employee Benefit Research Institute (EBRI), Center for...
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The year began on a positive note for private-sector pension plans, according to recent analyses.
Willis Towers Watson, Aon, Milliman, and October Three report that private-sector DB plans had a good month overall in January.
Willis Towers Watson’s Pension Index, which tracks the asset/liability...
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The scope of New York Secure Choice, the program through which the Empire State provides coverage to private-sector employees whose employers do not, has been expanded to include single proprietors.
New York Gov. Kathy Holchul (D) signed S 2399 into law on Jan. 26, 2024. Sen. Andrew Gounard (D-...
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On Feb. 7, House Ways and Means Committee Ranking Member Richard Neal (D-Mass.) introduced a bill to establish a federal auto-IRA for employers with more than 10 employees who do not currently sponsor a retirement plan.
The Automatic IRA Act of 2024 would require employees to be automatically...
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A powerful group of lawmakers has introduced legislation to help children start saving early for retirement by establishing a savings account for every child in America.
The bicameral 401Kids Savings Act was introduced Jan. 31 in the Senate (S. 3716) by Sen. Bob Casey (D-Pa.), along with Senate...
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In a storied decision, a judge once wrote that he couldn’t define a certain topic, but he knew it when he saw it. So, too, financial wellness—an expert panel recently suggested its meaning is “amorphous” and “evolving.”
“Financial wellness” can mean different things to different people and...
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The most powerful force in the Universe is compound interest. - Albert Einstein
In 1984, the Portland Trailblazers selected Sam Bowie over Michael Jordan as their draft pick—and as the saying goes, the rest is history. Although Sam Bowie was a terrific 7’3” center, his name has long been forgotten...
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Recently, an article in an industry publication led with the title “401(k) experiment has failed, fueled U.S. retirement crisis, labor economist says.”
In what I am sure generated a fair number of “clicks” that turned out to be the pronouncement of none other than Professor Teresa Ghilarducci,...
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More American savers will turn 65 this year than at any point in history, with roughly 12,000 people a day reaching the age that most target for retirement, but a new report suggests that many are second-guessing whether they are ready to retire.
The Nationwide Retirement Institute surveyed 1,...
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Minnesota Democratic Representative Angie Craig has reintroduced legislation that would eliminate federal taxes on Social Security benefits for seniors. The bill would extend full benefits for two decades and reduce the federal debt by a substantial amount, according to the analysis it cited....
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Those who make filings with the Pension Benefit Guaranty Corporation (PBGC) now must use the agency’s new e-Filing portal. It became operational on Feb. 1, 2024.
The PBGC had announced on Jan. 8 that it would launch a new and improved e-filing portal at the start of the next month. The launch of...
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A bill before the Mississippi House of Representatives would establish a state-run retirement plan to provide coverage for private-sector employees whose employers do not offer one.
Rep. Orlando Paden (D-Bolivar) on Jan. 24, 2024 introduced House Bill 599, the Mississippi Secure Choice Savings...
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The American Retirement Association (ARA) is calling on the IRS to revise several provisions contained in the proposed long-term, part-time employee (LTPTE) rules for 401(k) plans.
Chief among the ARA’s recommendations is for the IRS to revise the proposed rule regarding vesting service to...
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A new report offers a new level of transparency on recordkeeping fees paid by the large plan targets of excessive fee suits—and calls out a number of misleading claims and benchmarks used by the plaintiffs’ bar in bringing those suits.
According to the announcement from Encore Fiduciary, formerly...
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Following the assessment of an independent fiduciary that the settlement terms were reasonable, the parties in a 401(k) excessive fee suit have moved for approval by a federal judge.
The suit was filed back on Aug. 11, 2021—with plaintiffs Chris Carrigan, Michael Venti, and Sylvain Yelle (...
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A resolution before the Alaska House calls for the state to join others in calling for the repeal of the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).
Rep. Alyse Galvin (I-Anchorage) introduced House Joint Resolution 18 on Jan. 22, 2024.
Alaska has the highest...
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