Plan Participants
It may be winter, but the heat continues for CalSavers. The CalSavers Retirement Savings Board, which administers CalSavers, reports that the program continues to grow. In fact, growth in January outstripped that of December regarding total assets and average funded account balance.
CalSavers,...
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Tech Talk discusses what a “closing agreement” is in the context of an arrangement between the IRS and a taxpayer.
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OregonSaves, CalSavers, Illinois Secure Choice…call it what you will, they and their counterparts boil down to one basic thing — a retirement plan sponsored by the state government to provide at least some kind of retirement plan coverage for individuals who lack access to one. In most cases, that...
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An exodus of teachers could be looming — but retirement benefits offer a way to head that off, a recent report suggests.
Almost two-thirds of U.S. educators — 63% — are at least considering leaving the teaching profession, say Horace Mann National Business Solutions Executive Kelly Ruwe and...
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When asked how long people typically live in retirement, more than half of adult Americans were unable to answer the question correctly in an annual survey, writes Ted Godbout in MarketBeat. He continues that this is a crucial knowledge gap that could interfere with saving enough to last through...
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Enactment of the SECURE 2.0 Act, ongoing industry innovations, and the aim to provide greater personalization are among the many opportunities that plan sponsors have to align DC plan features, practices and investments with participant needs.
Indeed, the need for greater personalization of the...
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More public-sector employees have access to retirement plans than their counterparts in private industry, reports the Bureau of Labor Statistics (BLS). Same is true regarding participation.
In its Feb. 1, 2023 The Economics Daily, the BLS provides a snapshot of access to, and participation in,...
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In the face of prolonged economic uncertainty and volatility, many investors are rethinking what life after retirement may look like and are adjusting their priorities accordingly.
According to Nationwide Retirement Institute’s eighth annual Advisor Authority, nearly 7 in 10 (69%) non-retired...
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There’s nothing like a global pandemic to fuel interest in, if not the need for, emergency savings, writes Nevin Adams in MarketBeat. Indeed, he continues, there are a half dozen provisions in the new SECURE 2.0 designed to make it easier for workers to tap into their retirement savings — two aimed...
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Many financial advisors are skeptical about serving young investors because they don't think they can afford advice or be served profitably in the short term, but new research suggests that — contrary to stereotypes — young investors can be attractive clients for wealth management firms.
In fact,...
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Editor’s note: This the second in a four-part series. The original appears in its entirety as the cover story of the Winter 2023 edition of Plan Consultant magazine. The digital edition of the Winter issue is available here. However, access to Plan Consultant is restricted to ASPPA members, so you’...
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Asked about their views on defined contribution plans, an overwhelming majority of respondents in a new survey say they value the investment opportunity 401(k) plans provide and are opposed to changing the tax preferences or investment control in those accounts.
In fact, nearly 9 in 10...
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A new report reveals that individual retirement account (IRA) assets reached nearly $14 trillion in 2021, thanks in large part to rollovers from defined contribution (DC) plans.
According to The Cerulli Report — U.S. Retirement Markets 2022: The Role of Workplace Retirement Plans in the War for...
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Tech Talk discusses to whom required minimum distributions are important.
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The findings of a new survey suggest that plan sponsors and professionals should be proactive in providing education and advice, as most near-retirees indicate they are looking for help to maximize retirement benefits while minimizing taxes.
According to Allspring Global Investments’ 20th annual...
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National Tax-Deferred Savings Association’s (NTSA) Executive Director Nathan Glassey testified before the Maryland Senate’s Budget and Taxation Sub-Committee on Jan. 19. Glassey joined a state union representative in opposing a bill mandating auto-enrollment for teachers and state employees in...
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Editor’s note: This the first in a four-part series. The original appears in its entirety as the cover story of the Winter 2023 edition of Plan Consultant magazine. The digital edition of the Winter issue is available here. However, access to Plan Consultant is restricted to ASPPA members, so you’...
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While the long-term economic impact of the pandemic remains unclear, one thing that is clear is the highest inflation in decades has forced many Americans to reevaluate their retirement saving habits.
This is according to a new survey from U.S. News & World Report’s 360 Reviews revealing that...
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Certain tax information could be disclosed to the Maryland Small Business Retirement Savings Board to help in administering the Maryland Small Business Retirement Savings Program and Trust.
Legislation that created the state-run auto-IRA program that businesses can offer went into effect on July...
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The Colorado Department of the Treasury on Jan. 18 announced that the Colorado SecureSavings Program is open for businesses to register with it.
The Centennial State’s state-sponsored retirement savings program for those whose employers do not offer a retirement plan is intended to provide...
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