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News Archive

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.  READ MORE
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. READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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. READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
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. READ MORE
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. READ MORE
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... READ MORE
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... READ MORE
By now, almost every state has at least considered legislation that would establish a state-run retirement plan, and this year alone almost half the state legislatures have considered legislation about one. A panel of key players in the plans established in some states offer an insider’s look. ... READ MORE
Two states are taking action in seeking leadership to head their state-run retirement plan programs. Hawaii has just begun its search for an executive director; California has just named theirs.  Hawaii Retirement Savings Board Seeks Exec. Director   Hawaii is seeking an executive director for... READ MORE
Fifty retirement-related organizations sent a letter to the Treasury Department and specifically the IRS on July 19 requesting “transition relief” for Section 603 under the SECURE 2.0 Act. The signers—representing advocacy organizations (including the American Retirement Association), large... READ MORE
Cybersecurity—and its importance to retirement plans and savings—are top of mind. In MarketBeat, John Iekel covers Assistant Secretary of Labor Lisa M. Gomez’s suggestions on reducing the risk of fraud or loss to a retirement account. READ MORE
Tech Talk discusses the IRS’ suggestions regarding how to avoid exceeding the Internal Revenue Code Section 415(c) limits for employer and employee contributions to 403(b)s. READ MORE
The terms of a settlement in an excessive fee suit against a $2.3 billion 403(b) plan have come to light. The suit (Garnick v. Wake Forest Univ. Baptist Med. Ctr., M.D.N.C., No. 1:21-cv-00454, complaint 6/4/21) was filed in June 2021 in the U.S. District Court for the Middle District of North... READ MORE