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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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Voya Financial will serve as the recordkeeper for the new Secure Retirement 403(b) Pooled Employer Plan (PEP), the firm announced July 28.
Launched by The Platinum 401k, Inc., the PEP apparently is the first 403(b) program to the market following enactment of the SECURE 2.0 Act late in 2022, which...
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The biggest surprise of Missy Matrangola’s tenure as 2023 President of the American Retirement Association’s Board of Directors?
“The variety that comes with it—we talk about legislation, conferences, budget, etc.,” she said. “And also, the fact that being the president of the American...
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Plan costs and an uncertain economic outlook are driving plan sponsors to look to digital recordkeepers, representing an opportunity to solve a need and unexpectedly disrupt the market, writes John Sullivan in MarketBeat. He discusses a report that shows retirement plan sponsors face more cost...
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Tech Talk addresses whether, and how, a 403(b) holder can take a loan from the account if the employer through which the 403(b) was started no longer exists.
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Building off the SECURE 2.0 Act and taking a page out of the “behavioral finance playbook,” two influential senators introduced bipartisan legislation to establish an automatic reenrollment safe harbor.
SECURE 2.0 soon will require new 401(k) and 403(b) plans to automatically enroll participants...
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July is a good time to take stock of where things stand with respect to the multitude of state laws and programs to address the retirement plan coverage gap in the private sector workforce. By the time July rolls around on the calendar all but a handful of state legislatures have completed their...
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The NTSA 2024 Elite Advisor Awards nominations are open—but for just one day more!
Nominate NTSA Financial Advisors with these attributes:
best of the best
innovative, unique, profound, successful
educated, experienced, community-minded professionals
specific, outstanding, unique...
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The damage an overreliance on financial jargon can do to participant confidence and, by extension, a retirement professional’s business is well-documented, writes John Sullivan in MarketBeat. He continues that a new survey brings it into stark relief yet again.
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Tech Talk discusses actions the IRS says one should take when an employer fails to give all employees an opportunity to make a salary deferral.
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Today (July 25) I am writing from a conference in Washington, DC where we are hearing from the Securities and Exchange Commission, the Department of Labor, the Department of Treasury and many other federal offices.
On Capitol Hill
We will also have an opportunity to be on Capitol Hill to...
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Washington is discussing a bill that would provide retirement plan coverage for private-sector employees whose employers do not. No, not Washington state. And not Washington, as in the federal government. This measure is before the City Council of Washington, DC—the District of Columbia.
At-Large...
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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...