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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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE

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