The recent passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act is rightly the cause of celebration throughout the retirement planning industry. As the most significant retirement plan legislation in more than a decade, the SECURE Act (“SECURE” or the “Act”) contains…
…stuff file cabinets with old paper records. Now there are plans afoot to allow for the electronic delivery of 401(k) information – a move that the Investment Company Institute (ICI) estimates could save the 401(k) industry more than $500 million per year. Its report was…
…benefit plans and jeopardize employers’ ability to continue to offer defined benefit plans.” We agree with the letter – whose signees also include the Committee on Investment of Employee Benefit Assets, the National Association of Manufacturers, The ERISA Industry Committee, and the U.S. Chamber of…
How much is too much? Recent Employee Retirement Income Security Act (ERISA)-related lawsuits have made the question “top of mind” for many in our industry. In one case, the Trader Joe’s grocery chain has been charged with “breaching its ERISA fiduciary duties in the management,…
As we look ahead, here are 5 issues which are likely to impact the retirement and pension industry in 2018: Will tax reform impact savings and retirement? – It is still far from certain that comprehensive tax reform will be passed by Congress, given the…
Despite predictions by some that 2021 would begin with an explosion of Pooled Employer Plans (PEPs) as a result of the passage of the SECURE Act (Setting Every Community Up for Retirement Enhancement), that does not seem to be the case, so far. Certainly there…
The $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act has made plenty of headlines for all that it has done for aid in the form of increased unemployment benefits, the Paycheck Protection Program for small businesses, and additional financial support for state and…
Introduced on June 7 by U.S. Senator John Kennedy (R-LA), the pair of bills are designed to encourage more Americans to save for their retirement, and maintain greater control over those savings. The Keeping Your Retirement Act would raise the required minimum distributions (RMD) age…
Momentum for government-facilitated automatic Individual Retirement Account (auto-IRA) savings programs appears to be growing – and, in our opinion, that is a very good thing. The programs are aimed at private sector workers without access to an employer-sponsored retirement plan to instead have access to…
Not long ago, I wrote a blog entitled, “The SSRA: What’s Not to Like?” Now that it is wending its way through the Congressional approval process, my answer remains the same: There is very little not to like. The Securing a Strong Retirement Act (SSRA)…
It is no secret that these are tough – and confusing – times for most people. Officials inside and outside of government are issuing sometimes contradictory messaging; the economic effects of the pandemic are one of our great unknowns; and data on when – or…
There has been a flurry of recent activity surrounding the Setting Every Community Up for Retirement Enhancement (SECURE) Act as we near its first anniversary. Signed into law on December 20, 2019, the SECURE Act has been the subject of various federal government-issued explanations and…