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Even with other ongoing financial struggles, retirement savers ended the year on a positive note with improved market conditions and consistent contributions helping boost average account balances to their highest level in nearly two years.
The good news comes from Fidelity’s Q4 2023 analysis,...
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The Congressional Research Service (CRS) has issued information about the updated thresholds for the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) for 2024.
The updated information is contained in an annual report the CRS issues concerning the WEP and the GPO. Both...
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Home and community-based services employees would be able to participate in Minnesota Secure Choice if a bill introduced in the state House of Representatives is enacted.
Rep. Kelly Moller (DFL-40A) introduced HF 4248 on Feb. 26. The legislation would amend the law creating the Minnesota Secure...
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The release of final changes to the Department of Labor’s popular Voluntary Fiduciary Correction Program (VFCP) is apparently on the horizon, according to recent comments made by a senior agency official.
Speaking Feb. 27 at the U.S. Chamber of Commerce’s Small Business Retirement Summit,...
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The ink was barely dry on the denial of a motion to dismiss the suit, when American Airlines filed a motion of summary judgment, claiming that “there is no genuine issue as to any material fact and the [movant] is entitled to judgment as a matter of law.”
Where We’ve Been
Participant-plaintiff (...
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It is now possible to offer plan participants in 401(k), 403(b), and 457(b) plans the option to treat employer contributions as Roth contributions, under the SECURE 2.0 Act.
More precisely, it is Section 604 of the SECURE 2.0 Act that allows plan participants to elect to have any fully vested...
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The solvency of Social Security is not a new concern. It’s been on a slow—or, at times, high—burn for more than 40 years. Proposals to address the problem are almost as numerous as the warnings about it; in a recent report, the Congressional Research Service takes a look at the potential impact of...
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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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