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Social Security, the “third rail” of retirement financing, offers more than meets the eye. It also provides auxiliary benefits — dependent benefits and survivors benefits — to the spouses, former spouses, widow(er)s, children and parents of retired, disabled or deceased workers. A recently updated... READ MORE
A new report by the Government Accountability Office calls on federal regulators to clarity the rules regarding the transfers of unclaimed savings from employer-based 401(k) plans to the states.  In “Federal Action Needed to Clarify Tax Treatment of Unclaimed 401(k) Plan Savings Transferred to... READ MORE
Plan loan features in DC plans can encourage workers to participate in the plan. But the rules governing plan loans can be complicated, and mistakes can be made. A recent ASPPA webcast offered a look at common plan loan mistakes and how to correct them, using case studies to illustrate. In “St.... READ MORE
We recently celebrated Valentine’s Day; perhaps you saw one of those increasingly ubiquitous advertisements for a certain online florist. Now, I’ve used that particular service on many an occasion over the past several years; they are not only convenient, they deliver a quality product, and on... READ MORE
A recent study analyzing common language used to describe features of defined contribution plans reveals an apparent disconnect between what plan sponsors are saying and what participants are hearing. As part of the study, Invesco, along with Maslansky + Partners, conducted participant focus... READ MORE
The ratification of the 22nd amendment in 1951 may limit U.S. Presidents’ tenure, but that doesn’t mean their influence over a host of areas ends when their terms of office do. And that includes retirement readiness. In “How 5 U.S. Presidents Continue to Influence Your Retirement Readiness Today... READ MORE
“Fiduciaries that manage employer-sponsored benefits plans will likely get sued no matter what they do.” Thus begins a request from a number of retirement industry groups – including the American Retirement Association – that the U.S. Supreme Court weigh in on a controversial fiduciary case. Said... READ MORE
The average lifespan now is much longer than it was for previous generations. That’s good news! But that half-full glass has effects beyond the obvious. Among them: posing challenges and complications for retirement accounts and planning, which a recent analysis examines.  In “How Life Expectancy... READ MORE
The Oregon Treasury on Feb. 16 filed a notice of proposed rulemaking, including a statement of need and fiscal impact, for a rule that would amend OregonSaves to allow a presumption of employer exemption.  The proposed amendments would:  Allow OregonSaves officials to use the federal Form 5500 to... READ MORE
Two key members of Congress are interested in learning more about potential threats cyberattacks pose to the U.S. retirement system and what industry stakeholders are doing to address them. In a Feb. 12 letter to the U.S. Government Accountability Office (GAO), Sen. Patty Murray (D-WA), ranking... READ MORE
Retirement readiness remains a significant issue, but making a few small, smart investments like taking advantage of an employer 401(k) match can have a major impact over time, according to BlackRock’s 6th Annual Global Investor Pulse Survey. In this year’s study, which spanned 27,000 people in 13... READ MORE
Offering good news to couples on the eve of Valentine’s Day, a national survey finds that married or cohabiting retirees apparently have more financial resources to draw from and have fewer financial planning regrets, compared to their single counterparts. Those who are married or cohabiting are... READ MORE
In his First Quarter 2019 Washington Update, Robert Kaplan, the American Retirement Association’s Director of Technical Education, provided an overview of the new climate on Capitol Hill as well as recent regulatory developments affecting retirement plans. On the Hill With the changes that took... READ MORE
In observance of Presidents Day on Monday, Feb. 18, the ASPPA offices will be closed. Accordingly, ASPPA Connect will not be published on Feb. 18. ASPPA Connect will reappear on Wednesday, Feb. 20. Everyone is familiar with the pantheon of U.S. presidents, but there is more to them than that they... READ MORE
Markets moved higher heading into the New Year, but participant transfers slipped to a historic low. According to the Alight Solutions 401(k) Index, January’s three “above-normal” trading days and one day of low trading activity marked the slowest start to the year in the more than 20-year history... READ MORE
The IRS has updated the content in its 401(k) Plan Fix-It Guide that addresses what to do when hardship distributions were not made properly. The IRS makes recommendations regarding how to find and correct a mistake in providing hardship distributions. How to Find the Mistake Review your plan... READ MORE
The IRS has issued a new version of Publication 575, “Pension and Annuity Income” for use in 2018 reporting. Publication 575 discusses the tax treatment of distributions received from pension and annuity plans and also shows how to report the income on a federal income tax return. How these... READ MORE
Consumers tend to worry about “high-touch” products, such as credit cards and bank accounts, more than they worry about long-term savings accounts, such as their workplace retirement plans and IRAs, a new study warns. Nearly 80% of American consumers are concerned about financial fraud, according... READ MORE
Retirees’ concerns about not having enough money to last through retirement may not be as grim as they had feared before retiring, according to a new study. In fact, more than two-thirds of retirees say they live as well or better in retirement as they did when they were working, according to the... READ MORE
Having a retirement plan and a commitment to facilitating employees’ saving for their retirement is important. But the good that accomplishes can be blunted if the employer and the plan administrators don’t communicate about the plan effectively. In “Effectively Communicating Your Retirement Plan... READ MORE