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The parties in an excessive fee suit—that also raised issues regarding an arbitration clause—are “…pleased that after years of hard-fought litigation, they are able to present for preliminary approval a proposed settlement.”
That settlement includes a cash payment of $4,000,000.00 (four million...
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While the Department of Labor’s Employee Benefits Security Administration (EBSA) recovered $1.435 billion in direct payment to plans, participants and beneficiaries in fiscal year 2023, that number has been trending downward for the past few years.
According to a fact sheet released by EBSA,...
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In another of the “what a difference a year makes” cliche, a newly released study finds that, not only did 401(k) balances bounce back from 2022, but other indicators were also trending in the right direction.
Bank of America Retirement and Personal Wealth Solutions’ fourth quarter 2023...
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The Pension Benefit Guaranty Corporation (PBGC) has updated its Pension Insurance Data Tables concerning its Single-Employer and Multiemployer Programs. Overall, there is good news in the new figures.
The tables summarize information on PBGC’s Single-Employer and Multiemployer Insurance Programs...
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How well do you (think you) know your significant other?
The passage of time—shared experiences and the process of getting to know each other reveals much—and yet I learned something new about my partner of some four decades just last week!
That brought to mind one of the favorite game shows of...
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Georgia may join sister states in establishing a state-run retirement plan to provide coverage for private-sector employees whose employers do not, if a measure now before the Senate is enacted.
Sen. Chuck Hufstetler (R-52) introduced SB 477 on Feb. 9, 2024. It calls for the creation of the Peach...
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While workplace retirement plans are becoming an expectation for employees, the results of a new survey show there are multiple areas where savers are seeking additional support.
In fact, according to Vestwell’s annual Savings Industry Report, four emerging trends for 2024 all point to a growing...
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OregonSaves, the first state-run program to provide retirement plan coverage to employees whose private-sector employers do not, is devoting $5 million to coverage for childcare providers. The Oregon Retirement Savings Board and State Treasurer Tobias Read made the announcement on Feb. 12.
In...
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Student loan debt has long been said to be a drag on retirement saving, and a just-released report adds fuel to the fire.
Not only is student loan debt an immediate and long-term financial burden, it also has a “statistically significant” effect on retirement accounts, says a new issue brief by...
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Greater longevity than in the past is a good thing, as is concurrent big picture improvement in finances. But periodic economic challenges do take place, which can spell trouble—especially for retirees who did not save enough.
A substantial majority of retirees in a study by Clever Real Estate—68...
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A recent survey that looked at how employers and benefits providers can succeed with Gen Z finds that the generation is not all that different from their older counterparts.
According to The Standard’s research, Gen Z largely wants what other generations want: near- and long-term financial...
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An industry-leading benchmark study of non-qualified deferred compensation (NQDC) plans finds that, while recruitment and retention continue to be the top goal for offering NQDC plans, other reasons for doing so are rising quickly in the ranks.
Though these plans are still primarily used to...
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While inflation and market volatility eased somewhat over the past year, that hasn’t necessarily resulted in a boost to American workers’ retirement and financial confidence.
According to PGIM’s new RetireWell Confidence Index, workers’ retirement and financial confidence have lingered at “below...
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Will your 401(k) be chopped by the Chiefs—or find gold with the 49ers?
That’s what adherents of the so-called Super Bowl Indicator[1] would likely conclude, after all. It’s a “theory” that when a team from the old National Football League wins the Super Bowl, the S&P 500 will rise, and when a...
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Editor's note: This article appears in the latest Plan Consultant Magazine. Click here to read the new magazine issue.
Two of the most important parties to a successful retirement plan are the third-party administrator (TPA) and the advisor. While other key pieces operate somewhat stand-alone,...
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Despite the SECURE and SECURE 2.0 acts essentially making it free for small business owners to offer a retirement plan, new research finds that many are still harboring old excuses for not providing one.
The research published by the Employee Benefit Research Institute (EBRI), Center for...
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The year began on a positive note for private-sector pension plans, according to recent analyses.
Willis Towers Watson, Aon, Milliman, and October Three report that private-sector DB plans had a good month overall in January.
Willis Towers Watson’s Pension Index, which tracks the asset/liability...
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The scope of New York Secure Choice, the program through which the Empire State provides coverage to private-sector employees whose employers do not, has been expanded to include single proprietors.
New York Gov. Kathy Holchul (D) signed S 2399 into law on Jan. 26, 2024. Sen. Andrew Gounard (D-...
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On Feb. 7, House Ways and Means Committee Ranking Member Richard Neal (D-Mass.) introduced a bill to establish a federal auto-IRA for employers with more than 10 employees who do not currently sponsor a retirement plan.
The Automatic IRA Act of 2024 would require employees to be automatically...
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A powerful group of lawmakers has introduced legislation to help children start saving early for retirement by establishing a savings account for every child in America.
The bicameral 401Kids Savings Act was introduced Jan. 31 in the Senate (S. 3716) by Sen. Bob Casey (D-Pa.), along with Senate...
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