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The New Jersey Secure Choice Savings Program Act, a measure that would create an automatic enrollment payroll deduction IRA in the Garden State, is before the state Assembly and the state Senate. It is intended to promote “greater retirement savings for private sector employees in a convenient, low...
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Legislation has been introduced in the U.S. Senate that would give any worker not currently covered by an employer-sponsored retirement plan access to a new type of retirement savings account.The American Savings Act, first introduced in January 2016 and reintroduced July 19 by Sen. Jeff Merkley (D...
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Eleven states and the District of Columbia have filed suit challenging the Department of Labor’s recently finalized association health plan (AHP) rule.
Arguing that the rule is unlawful and should be vacated, the state attorneys general from California, Delaware, Kentucky, Maryland, Massachusetts,...
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It isn’t hard to find a plan that has invested in target date funds (TDFs). But it can be hard to find assessments that ask hard questions about them. A recent white paper fills that void and asks whether TDFs are the panacea some may think.In “Are Target-Date Funds Enveloped by Unrealistic...
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In my experience, two big plan sponsor questions loom over financial wellness.The first – and this one gets answered many ways – is “what do you mean by financial wellness?” The other – and there’s some correlation with the former is – what’s the ROI?The quantification of return remains somewhat...
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Securities and Exchange Commissioner Hester Peirce on July 24 argued that the proposed Regulation Best Interest would set clear standards, even though the word “fiduciary” is not directly incorporated in the proposal.Addressing critics who remain unsatisfied, Peirce, who was sworn in in January...
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An unspecified number of participants in plans recordkept by Vanguard were told their loans had been processed. But they hadn’t.
Furthermore, according to the Wall Street Journal (subscription required) the loans hadn’t been requested.
The text message informed recipients that their loans had...
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Individuals’ financial information is so valuable that identity thieves will do just about anything to steal it, including gaining entry into retirement plan records that aren’t properly protected. But there is something you can do. You can act first — before the break-in even takes place.
Are...
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Key lawmakers and staffers from the House and Senate discussed legislation relevant to retirement plans and offered insights on congressional activity on July 24. They made their remarks at the NAPA DC Fly-In Forum.
Rep. Richie Neal (D-MA), reviewed two key bills that he introduced late last year:...
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The Pension Benefit Guaranty Corporation announced July 25 that it has launched a new web page that compiles PBGC officials’ responses to questions received from practitioners about Title IV requirements.
The questions and answers — 29 in all — cover issues in eight categories:
Section 430(k)...
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