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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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Millennials are defining retirement by financial independence rather than age, writes John Sullivan in MarketBeat. He cites a survey in which more than half say retirement is defined not by age but by financial independence.
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Tech Talk addresses the kinds of plan amendments that will not affect an adopting employe’s ability to rely on an opinion letter for a pre-approved plan.
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As the Department of Labor defends its rule allowing the use of environmental, social and governance (ESG) factors by fiduciaries when selecting plan investments, legislation to restrict the use of ESG in making investment decisions—including for 403(b) and 457 plans—has been reintroduced in...
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To “get the meeting no one else can,” in a general session at the recent 2024 NTSA Summit Sam Richter offered simple steps for distilling “trillions of data floating around” into tangible tools that can help foster connection with prospects.
Describing Google as a vacuum cleaner that “sucks up and...
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If bills before both chambers of the Wisconsin legislature are enacted, America’s Dairyland will have a retirement plan marketplace to connect individuals and small employers with retirement plans offered by private financial services firms.
Sen. Melissa Agard (D-Madison) introduced SB 1035 in...
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Prior to the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE), and the SECURE 2.0 Act of 2022 (SECURE 2.0), for state and local governmental employers sponsoring eligible 457(b) deferred compensation plans (457(b) plans), age 70½ was a significant age for the following...
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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, writes Ted Godbout in MarketBeat.
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Tech Talk addresses the amendments providers are required to make under Revenue Procedure 2023-37 to ensure that the form of their plans continues to satisfy qualification requirements or those of Internal Revenue Code Section 403(b).
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Automatic enrollment of eligible employees in the Hawaii Retirement Savings Program is closer to being put in place.
Sen. Sharon Moriwaki (D-Waikiki) introduced SB2553 on Jan. 19, 2024. Under the bill, employees would no longer be required to opt in to participate in the Hawaii Retirement Savings...
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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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In a lengthy filing (109 pages), Yale University says the plaintiffs who lost their excessive fee case in a jury trial shouldn’t get a “do over.”
More specifically, the Yale fiduciary defendants in that case have filed the aforementioned brief stating that the Second Circuit need not concern...
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This session was led by Ed Salyers, who worked over 30 years with the IRS before opening his CPA firm.
Attendees aware of his experience clearly appreciated his presentation, in which he explained how plan sponsors, administrators, and TPAs should respond if/when the IRS sends a pre-exam...
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Proposals to address the solvency of Social Security are almost as numerous as the warnings about it, writes John Iekel in MarketBeat; he discusses a recent report by the Congressional Research Service that examines the potential impact of some steps that could be taken.
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Tech Talk discusses recurring remedial amendment cycles in light of Revenue Procedure 2023-37.
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The Illinois Senate may vote soon on a bill that would require school districts in the Land of Lincoln that offer their employees a 403(b) plan to enter into a contract with only one vendor in the plan.
On Feb. 14, 2024, Sen. Karina Villa (D-West Chicago) introduced language for SB2568 stating...
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Harkening back to the early days of the administration, President Biden’s fiscal year 2025 budget, once again, proposes significant tax increases on corporations and upper-income taxpayers, including a proposal to limit how much taxpayers are allowed to accumulate in their retirement plans. ...
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Two measures before the Illinois House of Representatives would make adjustments to the pension system that serves public school teachers in most of Illinois.
The bills would amend the Downstate Teacher Article of the Illinois Pension Code. That code concerns pensions for teachers in “downstate”...
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The Office of Management and Budget (OMB) received the fiduciary rule, listed as Retirement Security Rule: Definition of an Investment Advice Fiduciary, from the Department of Labor (DOL) on March 8.
The OMB will review its costs and benefits within 90 days. However, the compressed two-month...
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Add the Evergreen State to those that provide retirement plan coverage for private-sector employees whose employers do not. Well, soon.
"In the beginning of March, Washington joined the 15 other states that had previously adopted state auto-IRA language, to provide the best opportunity for small...
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Recent Comments
Does the roth requirement for catch-up contributions for people who earned $145,000 apply to 457...
Hi Ed,
I really liked this article and I think you make a lot of sense. And I had no...
I believe there's a misstatement in that last quote - it should refer to governmental and...
Working with several medical providers as clients, I note that the high-end earners tend to push...
Congratulations to NTSAA for landing a good one. Nathan's breadth of experience and...