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Rep. Richard Neal (D-MA) on Jan. 9 introduced the Rehabilitation for Multiemployer Pensions Act, legislation that seeks to address the problems facing multiemployer pensions. Neal had introduced the measure during the 115th Congress, but it had been referred to three House committees and was not...
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A new EBRI issue brief reviews whether and to what extent purchasing a qualified longevity annuity contract (QLAC) offered through a DC plan can help improve retirement readiness.
In “Deferred Income Annuity Purchases: Optimal Levels for Retirement Income Adequacy,” the Employee Benefit Research...
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The Oregon State Treasury has announced that OregonSaves, the state-run auto-IRA program for private-sector workers in Oregon, continues to gain new participants and to grow in the balances set aside through the program.
The Treasury says that by the end of 2018, OregonSaves membership and savings...
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While much of Washington has been focused on the government shutdown, House Democrats kicked off the 116th Congress by implementing a series of changes to the standing rules that will will make it harder for Congress and President Trump to agree on major legislation.
Perhaps one of the more...
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The IRS has released the instructions for Form 9855-SSA, Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits, to be used for 2018 filing. The IRS calls the form the “designated successor” to Schedule SSA of the Form 5500, and it is used to satisfy the...
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“Best Interest” has become part of the American lexicon… as an aspirational goal or a demanding standard — depending on the point of view. But, what does best interest mean?
In a recent blog post, noted ERISA attorney Fred Reish identifies two different best interests: the first a standard of care...
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A new year is under way. What may it portend for retirement income products? A recent analysis takes a look at what may be ahead in 2019.
In “Top 4 Trends Shaping Retirement Income Products in 2019,” a BenefitsPro blog entry, reporter Nick Thornton discusses four conditions that experts from the...
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Employers continue to show widespread interest in providing financial wellness programs to improve worker well-being and reduce financial stress, but there’s little agreement on what makes up a program and no clear way to measure its value, according to panelists at a recent policy forum.
The...
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With retirement issues looming large in the 116th Congress, the American Retirement Association (ARA) has revamped its government affairs leadership team with two key additions.
Will Hansen joins in the new role of Chief Government Affairs Officer, effective Jan. 7, and Allison Wielobob has been...
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Yes, indeed, December was a rough month for the average 401(k) balance.
According to estimates from the nonpartisan Employee Benefit Research Institute (EBRI), among older (age 55-64) workers with more than 20 years of tenure, whose average balance is generally more influenced by market moves than...
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