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The American Retirement Association (ARA) and sustainable markets advocacy organization Ceres have filed an amicus brief in the 5th U.S. Circuit Court of Appeals. It supports the U.S. Department of Labor’s (DOL) rule “that ensures retirement plan fiduciaries, including 401(k) sponsors, can consider...
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The Department of Labor’s Employee Benefits Security Administration (EBSA) has released a final amendment to Prohibited Transaction Class Exemption 84-14—also known as the Qualified Professional Asset Manager (QPAM) Exemption.
The QPAM exemption permits various parties related to employee benefit...
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The Treasury Department, the Department of Labor’s Employee Benefits Security Administration (EBSA), and the Pension Benefit Guaranty Corporation (PBGC) have announced that they are extending the period during which they will accept comments on the effectiveness of existing reporting and disclosure...
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The Social Security Administration (SSA) on March 29 announced that it is slashing the default overpayment withholding rate for Social Security beneficiaries from 100% to 10% or $10, whichever is greater.
The change went into effect on March 25, 2024. But it applies to new overpayments, not those...
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The American Retirement Association (ARA) submitted a comment letter to the Department of Labor (DOL) on March 31, 2024, related to the proposed regulation to implement a prohibited transaction exemption for certain auto-portability transactions.
More specifically, the DOL had requested comments...
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Editor’s Note: This is Part II of a two-part series on a recent report by the Advisory Council on Employee Welfare and Pension Benefit Plans to Acting Secretary of Labor Julie Su. Part I is here.
Recordkeeping has long been moving from paper-based to electronic. The Advisory Council on Employee...
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It’s the latest iteration of the auto revolution (enrollment, escalation, portability). While not directly related to 401(k)s, an idea for automatic adjustments involves retirement income—specifically, Social Security.
Alicia Munnell and William Arnone, two familiar names in retirement plan...
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A recent “news” post about a blog post finds some curious “faults” with the 401(k).
The news item carried the provocative title “‘Rich Dad’ Robert Kiyosaki Reveals Why the 401(k) Is a ‘Horrible’ Retirement Plan.” It originally ran on GoBankingRates.com, but was subsequently picked up in...
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Longevity and greater spending are "putting the U.S. retirement system under immense strain," BlackRock CEO Larry Fink wrote in his annual shareholder letter.
In the letter, bluntly titled “Time to Rethink Retirement,” Fink argued that capital markets will be critical in addressing what he called...
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Editor’s Note: This is Part II of a two-part series highlighting some trends involving private-sector pension plans in the early part of 2024. Part I is here.
According to the U.S. Pension Risk Transfer (PRT) report Aon released March 20, there was a surge in PRT activity in the fourth quarter of...
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