State Sponsored Plans
Legislation is before the Oklahoma House of Representatives that would allow the elimination of the state-sponsored 403(b) plan for teachers. Rep. Randy McDaniel (R-Oklahoma City) introduced HB 2553 on Feb. 5; it is now before the House of Representatives’ Banking and Business Committee.The...
READ MORE
There is no time of year like this one for peering into the future. Accordingly, the Center for State and Local Government Excellence has gazed into its crystal ball and reflects on trends to watch in 2018 regarding state and local governments’ retirement plans.
In “State and Local Government...
READ MORE
Public sector and education-related employers can offer their employees access to 403(b) plans, and the Hawkeye State is among them. The state also provides a supplemental program that offers a variety of services; a look at its nuts and bolts offers a close look at what such programs entail.
They...
READ MORE
Officials from the Iowa Public Employees’ Retirement System (IPERS) appeared before the Iowa Legislature’s Public Retirement Systems Committee on Dec. 18. Committee members listened to testimony and inquired regarding the program’s status and liabilities.Testimony included a presentation by Iowa...
READ MORE
Kentucky Gov. Matt Bevin (R) on Oct. 18 unveiled a proposal to shift the Teachers’ Retirement System (TRS) in the Bluegrass State from the current defined benefit system to a defined contribution-based system. A recent actuarial analysis suggests the proposed changes to the retirement plan may not...
READ MORE
The Nutmeg State’s state-run auto-IRA plan for private sector workers isn’t going to be ready for business on Jan. 1, 2018 — no matter what retirement plan vendors may have told you.
In fact, Labor Commissioner Scott D. Jackson, Chair of the Connecticut Retirement Security Authority (CRSA), has...
READ MORE
After significant deliberation with NTSA and other stakeholders over the last several months, the Texas Teachers Retirement System Board unanimously passed new 403(b) rules that will be fully effective on Oct. 1, 2019.
The final rule is a substantial improvement from the initial draft published in...
READ MORE
The Teacher Retirement System (TRS) of Texas appears to be revising its recently proposed amendments to rules governing fees in Texas 403(b) plans. Among the forthcoming changes are revisions that address some of the major concerns industry leaders had expressed to the board during its last two...
READ MORE
A report concerning OregonSaves, the state-run retirement plan run by the Oregon Retirement Savings Board, provides a look at the status of the program as it approaches full implementation.Segal Macro Advisors has reported to the board that the deliverables concerning some aspects of the program’s...
READ MORE
On Sept. 1, the Texas Teacher Retirement System (TRS) Board reviewed the impact of the proposed 403(b) rule amendments on existing products available throughout the Texas School Districts.The impact analysis presentation included a review of fees, cost and penalties, timing, grandfathering,...
READ MORE
OregonSaves, the Oregon Retirement Savings Program, has invited additional Oregon employers to register for its pilot program.OregonSaves reports that it has invited more than 40 additional employers to do so. By June 20, 11 employers had registered. OregonSaves says that brings the total potential...
READ MORE
The Oregon Treasury has unveiled a proposal to modify the Oregon State Retirement Program (ORSP).The proposal would create new rules and modify existing rules for the ORSP. Specifically, the rules: clarify the definitions in certain joint employment relationships; allow for non-payroll...
READ MORE
The Connecticut Retirement Security Authority (CRSA), the body created by a state law enacted in May 2016 to implement the law establishing the state-sponsored retirement plan, has begun meeting. According to the ctpost, Connecticut State Comptroller Kevin Limbo expects the authority’s work to...
READ MORE
The Pew Charitable Trusts recently published a report reviewing the findings of a survey to gauge employer reactions to leading state retirement policy ideas where they found strong support among small and mid-size businesses for automatic IRA programs, multiple employer plans (MEPs) and online...
READ MORE
A handful of states have put in place plans intended to help make sure that retirement plan coverage and participation expands. In MarketBeat, John Iekel covers a recent conference session that points out that the fact that states are acting to fill the coverage gaps doesn’t spell the end of...
READ MORE
Ascensus, already tapped to administer the OregonSaves state-run IRA program, has landed another client.The Dresher, Pennsylvania-based provider announced last week that it had been chosen as Illinois’ preferred partner for its Secure Choice program following a public-bidding process. According to...
READ MORE
The U.S. Treasury’s winding down of the myRA program will cause at least one state-run retirement program to delay its opening.Washington State’s Small Business Retirement Marketplace — which had hoped to be open for business by Labor Day — will be delayed at least a few weeks, according to a...
READ MORE
As more states look to establish retirement savings plans for private sector workers, a new report by LIMRA’s Secure Retirement Institute finds that 55% of DC plan sponsors indicate they are “very likely” or “somewhat likely” to stop offering their DC plan in favor of having their employees enroll...
READ MORE
The Washington State Department of Commerce is updating the rules for the state’s Small Business Retirement Marketplace. The department is responsible for managing the Washington Small Business Retirement Marketplace in consultation with the state Office of the Insurance Commissioner and Department...
READ MORE
The July 1 launch of the Oregon Retirement Savings Program (ORSP, or OregonSaves) pilot has been a success, according to a report by the Oregon Retirement Savings Board that looks at the program’s first few weeks, as well as what lies ahead.Status ReportThe minutes of the board’s June 20 meeting...
READ MORE
Pages
Most Popular
