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Almost 26,000 New York Life customers had their names and Social Security numbers exposed to a data breach, the latest in a massive hack that affected hundreds of companies and millions of Americans.
The hack occurred in late May and involved Progress Software, the provider of MOVEit transfer...
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Robinhood’s bid to undo the Bay State’s fiduciary rule holding broker-dealers to the same standard as investment advisers hit a roadblock after the state’s high court reversed a lower court’s ruling that the Massachusetts Secretary of Commonwealth lacked authority to adopt the rule.
The Aug. 25...
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The IRS released guidance on Aug. 25 that addressed Section 603 of the SECURE 2.0 Act concerning Roth catch-up contributions.
The guidance grants a two-year delay in the provision's effective date that mandates that catch-up contributions must be Roth for those earning more than $145,000. More...
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The IRS on Aug. 21 issued an update to the 2022-2023 priority guidance plan, which still includes plans to take action relevant to 403(b)s.
The IRS had released the initial plan on Nov. 4, 2022, setting forth guidance priorities for the 12-month period from July 1, 2022, through June 30, 2023 (the...
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Running any employee benefit plan entails following certain rules—and it is always possible that at some point, a mistake will be made in running a plan. An expert offers his observations regarding mistakes that tax-exempt organizations (EOs) make with their 457(b) plans.
In a recent entry in the...
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Tech Talk discusses the Government Accountability Office’s observation that investment options are generally more limited for 403(b) plans than they are for other qualified retirement plans.
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Recent research from the Investment Company Institute sought to answer two critical questions on which retirement policy is often based—how do the amount and compositions of spendable income for individuals change from middle to old age, writes John Sullivan in MarketBeat.
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The typically hot inland areas of the Golden State may have been torrid this summer, but one thing at least has been cooling: CalSavers employer registrations and contribution levels.
Registrations had been steadily growing since 2019. But employer registrations dropped from May 31, 2023 to June...
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The first half of 2023 brought slow—but relentless—growth in assets and registrants for CalSavers, the state-run program that provides retirement plan coverage for private-sector employees whose employers do not. So reports the CalSavers Retirement Savings Board, which administers the program....
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In MarketBeat, Nevin E. Adams, JD, writes that he has been getting a lot of … comments …about his version of “retirement,” and includes discussion of allocations of revenue from retirement funds and factors that affect them.
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Born from 1997 to 2012, Generation Zers have often been called the most ethnically diverse generation who have grown up entirely with modern technology. But as they begin to enter the workforce, what impact will they have on the retirement industry and what expectations do they bring to the table...
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Tech Talk looks at a discussion by the Government Accountability Office (GAO) of service providers with which sponsors of 403(b) plans work.
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The club of states adopting retirement plans that provide coverage for private-sector employees whose employers do not is becoming increasingly less exclusive. A recent study takes a look at how employers are responding.
In the National Bureau of Economic Research (NBER) paper “How Do Firms...
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They may be on almost completely opposite ends of the country, but Colorado and Maine are cooperating in offering retirement plan coverage to their citizens.
Colorado Secure Savings program and the Maine Retirement Investment Trust (MERIT) on Aug. 11 established a partnership to provide...
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Teachers at a recent hearing called on the Massachusetts legislature to investigate the effects of the federal Windfall Elimination Provision (WEP) and Government Pension Offset (GPO).
The Joint Committee on Public Service July 25 held a hearing concerning Resolve S. 1656, which calls for an...
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The Government Accountability Office (GAO) recently reviewed the Department of Labor’s (DOL) 403(b) plan oversight efforts and concluded better educational material is needed to inform plan sponsors and participants.
“The DOL’s website does not contain targeted educational materials that could...
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Reenrollment is not a new practice, but it is getting some new attention. In a recent podcast, Nevin E. Adams, JD, former Chief Content Officer at the American Retirement Association, and C. Frederick Reish, a partner in Faegre Drinker’s Benefits & Executive Compensation practice group,...
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A study reviews data from two databases to see how (if?) retirement expectations have been impacted by the experience of the COVID-19 pandemic, writes Nevin E. Adams, JD, in MarketBeat.
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Tech Talk discusses some of what the Government Accountability Office (GAO) has to say about fees for 403(b) plans, such as its finding that even seemingly small fees can significantly reduce participants’ retirement savings over time.
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To better support retirement savers, Vanguard and the Retirement Clearinghouse (RCH) announced that they are expanding their relationship to include services to individual retirement account (IRA) holders.
According to the announcement, the expanded collaboration by the two firms will help...
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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...