Advertisement
News Archive
The Georgia Senate may create a committee to study the creation of Peach State Saves, a retirement saving program.
Senate Finance Committee Chairman Sen. Chuck Hufstetler (R-Rome) on March 20 introduced in the state senate SR 807, a resolution that would create the Senate Peach State Saves...
READ MORE
As the Department of Labor works in court to defend its rule allowing the use of environmental, social and governance (ESG) factors by fiduciaries when selecting plan investments, legislation to restrict the use of ESG has been reintroduced in Congress, albeit with modifications.
Rep. Greg...
READ MORE
How was your March 15? How is your April 15 going? Are you looking forward to a break in deadlines as the weather gets nicer? My answers are wild, even wilder, and most definitely.
When we last left off, I wrote about the then-upcoming ASEA Actuarial Insights (virtual) Conference. I attended said...
READ MORE
I’m grateful to have this opportunity to share a bit about the ASEA leadership in 2024 and our goals for the year.
The leadership consists of Angie Vadnais and David Kupstas as President and Executive Vice President, respectively. These folks should be household names within actuarial circles....
READ MORE
Born out of the shared desire to mentor aspiring enrolled actuaries (EAs), ASEA launched the ASEA Academy earlier this month.
The ASEA Academy was the brainchild of ASEA members interested in mentoring actuarial students, supporting them in exam prep, and hopefully one day welcoming them to the...
READ MORE
The New York State Bar Association (NYSBA) is advocating for passage of a law that would make it more likely that the pension of a public employee continues to pay out until the surviving spouse dies.
The association’s House of Delegates on Jan. 19 approved a recommendation from its Trusts and...
READ MORE
A new report by a collaborative of industry stakeholders suggests that low-cost, plan-design solutions to nudge participants to avoid early withdrawals could make a significant dent in the racial and gender retirement savings gap.
The report also observes, however, that more study is needed to...
READ MORE
Editor’s Note: This is Part I 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.
Recordkeeping today is not your grandfather’s recordkeeping. Maybe not even your older sibling’s. So guidance and...
READ MORE
If ever there were any doubts about the benefits of having a formal financial plan to help prepare for retirement, a new study by T. Rowe Price puts that to rest.
According to the firm’s report, individuals with a formal financial plan were found to have two to four times more wealth when...
READ MORE
An interesting—and somewhat counterintuitive—report came out last week, one that cast doubt on the “common wisdom” regarding Roth versus traditional pre-tax savings.
The assumption underlying the research[1] was that those who had not yet paid taxes on their savings (the traditional pre-tax...
READ MORE
If bills before both chambers of the Wisconsin legislature are enacted, America’s Dairyland will have a retirement plan marketplace to connect individuals and small employers with retirement plans offered by private financial services firms.
Sen. Melissa Agard (D-Madison) introduced SB 1035 in...
READ MORE
The Pension Benefit Guaranty Corporation (PBGC) has updated a variety of interest rates used in determining the value of benefits, premiums, and penalties.
Variable Rate Premiums
The PBGC has adjusted the interest rates used in determining the value of vested benefits for purposes of variable...
READ MORE
Social Security Commissioner Martin O’Malley on March 20 outlined steps the Social Security Administration (SSA) will be taking to address overpayments and underpayments. The announcement came during his testimony before the Senate Select Committee on Aging regarding the current state of the Social...
READ MORE
The Republican Study Committee (RSC), a conservative caucus to which most House GOP members belong, released its fiscal year (FY) 2025 budget proposal, “Fiscal Sanity to Save America,” on March 20.
It said the budget would address the federal spending problem and pay down debt so that it would “...
READ MORE
Pension Benefit Guaranty Corporation (PBGC) Director Gordon Hartogensis defended PBGC actions and said that it is “providing crucial pension relief” in a March 20 appearance before the House Subcommittee on Health, Employment, Labor, and Pensions.
The subcommittee, part of the House Education and...
READ MORE
Automatic enrollment of eligible employees in the Hawaii Retirement Savings Program is closer to being put in place.
Sen. Sharon Moriwaki (D-Waikiki) introduced SB2553 on Jan. 19, 2024. Under the bill, employees would no longer be required to opt in to participate in the Hawaii Retirement Savings...
READ MORE
March is coming in like a lion with a new “genre” of ERISA litigation.
While it’s early yet, two—and now three—recent suits—filed by different law firms in different federal district courts—might be the first of a new wave of litigation. All focus on decisions to mitigate corporate risk exposure...
READ MORE
The “Baby Boom” is still having an impact on the workplace despite its advancing age, with an increasing number from that generation staying in the workforce longer than the “normal” retirement age. And that has implications for employers, retirement saving, and retirement plans.
Extended Tour of...
READ MORE
What's in the episode?
Defined contribution plans, and 401(k)s specifically, are increasingly under attack, criticized by think tanks and academics for perceived (yet easily refuted) flaws. What—and who—is behind the effort? Are the criticisms resonating and why are they happening now? Does the...
READ MORE
Amid St. Patrick’s Day celebrations, I’m reminded of a trip my younger brother and I made with my grandparents to the Great Smoky Mountains.
Now, my grandparents had made many trips to that area, but it was a new experience for me and my brother. To this day I remember a hotel that had a pool...
READ MORE