Defined Contribution Plans

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... READ MORE

Recently, an article in an industry publication led with the title “401(k) experiment has failed, fueled U.S. retirement crisis, labor economist says.” In what I am sure generated a fair number of “clicks” that turned out to be the pronouncement of none other than Professor Teresa Ghilarducci,... READ MORE

Loans to pay for an education: an investment in the future, but also a drag on it. Research and recent insights suggest that while loans help fund steps intended to improve one’s position, in some ways they can threaten future security by affecting retirement saving. It’s a debt whose effects... READ MORE

There have been significant changes to the IRS Pre-Approved Defined Contribution Plan Program, and two of the IRS officials involved in the thick of it recently provided a refresher on the program rules and recent developments.  Milo Atlas of the Retirement Plan Forms and Publications Office at... READ MORE

The U.S. retirement system is a success—but we still can do better. That was the message from an expert panel that recently examined the gaps in that system and made suggestions regarding how to fill them.  Pete Swisher, Managing Partner at Group Plan Systems, and Annie Messer, President, Member... READ MORE

There is a “common wisdom” in our business that suggests that all plan sponsors are, more or less, alike; that large plans are the inevitable early adopters of trends that, sooner or later, trickle down to plans of all sizes. Consequently, those who make their living trying to discern trends and... READ MORE

An increasing body of research and results seem to confirm that state-sponsored retirement plans—and auto-IRAs specifically—close the coverage gap, not only by providing a public option but also by encouraging higher private plan adoption. Currently, 14 states have a mandate in place, with another... READ MORE

The IRS on Dec. 20, 2023, issued the 2023 cumulative list of changes in plan qualification requirements for pre-approved defined contribution plans. The changes are contained in Notice 2024-03. The 2023 Cumulative List is intended to assist providers applying to the IRS for opinion letters for the... READ MORE

Reps. Darin LaHood (R-Ill.) and Linda Sánchez (D-Calif.) introduced a bill on Dec. 13 that would allow retirement savers to roll over their Roth IRA savings into a Roth workplace retirement plan such as a Roth 401(k), Roth 403(b), or Roth 457(b). The bipartisan bill, which the American Retirement... READ MORE