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Snow may have rained down in much of the country in abundance, but February was a hot month for private-sector pension plans, according to recent analyses. October Three, Wilshire and Aon report good news for private-sector DB plans in February. How hot? In its report, Wilshire quotes Managing... READ MORE
Illinois Rep. Charles Meier, in an interview with ASPPA Connect, has outlined how the rules concerning the participation of members of volunteer fire departments (VFDs) in Illinois Secure Choice would change if a bill he introduced is enacted.  Meier (R-Highland), who serves as Assistant... READ MORE
Each year, ASPPA recognizes p to two individuals—one ASPPA member and/or one outside of ASPPA—by honoring them with its most prestigious award, the Harry T. Eidson Founders Award. The Eidson Award was established to honor the memory of ASPPA’s founder, Harry T. Eidson, FSPA, CPC. Eidson was the... READ MORE
While traditional and Roth IRAs play a key role in household balance sheets, representing 36% of household financial assets among those owning them, new research also reveals that rollover activity, which helps many Americans preserve their retirement savings, has fueled recent individual... READ MORE
Even with other ongoing financial struggles, retirement savers ended the year on a positive note with improved market conditions and consistent contributions helping boost average account balances to their highest level in nearly two years.  The good news comes from Fidelity’s Q4 2023 analysis,... READ MORE
The Congressional Research Service (CRS) has issued information about the updated thresholds for the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) for 2024.  The updated information is contained in an annual report the CRS issues concerning the WEP and the GPO. Both... READ MORE
Home and community-based services employees would be able to participate in Minnesota Secure Choice if a bill introduced in the state House of Representatives is enacted.  Rep. Kelly Moller (DFL-40A) introduced HF 4248 on Feb. 26. The legislation would amend the law creating the Minnesota Secure... READ MORE
The release of final changes to the Department of Labor’s popular Voluntary Fiduciary Correction Program (VFCP) is apparently on the horizon, according to recent comments made by a senior agency official.  Speaking Feb. 27 at the U.S. Chamber of Commerce’s Small Business Retirement Summit,... READ MORE
The ink was barely dry on the denial of a motion to dismiss the suit, when American Airlines filed a motion of summary judgment, claiming that “there is no genuine issue as to any material fact and the [movant] is entitled to judgment as a matter of law.” Where We’ve Been Participant-plaintiff (... READ MORE
It is now possible to offer plan participants in 401(k), 403(b), and 457(b) plans the option to treat employer contributions as Roth contributions, under the SECURE 2.0 Act.  More precisely, it is Section 604 of the SECURE 2.0 Act that allows plan participants to elect to have any fully vested... READ MORE
The solvency of Social Security is not a new concern. It’s been on a slow—or, at times, high—burn for more than 40 years. Proposals to address the problem are almost as numerous as the warnings about it; in a recent report, the Congressional Research Service takes a look at the potential impact of... READ MORE
Editor’s Note: This is part II of a two-part series. Part I is available here.  Generation Z is looking ahead and shows a healthy regard and respect for their financial future, long-term. Studies show that they have a strong interest in financial literacy, saving and employer-provided retirement... READ MORE
While employers strive to address employees’ evolving needs, the results of a new survey find a disconnect between compensation and benefit offerings and employee preferences. Franklin Templeton’s Voice of the American Workplace Survey, now in its fourth year, finds that employee expectations are... READ MORE
Recently, we explored the reasons why small businesses DON’T offer a retirement plan to their workers. But there are quite different—and positive—reasons for choosing to do so. The obstacles that keep most small businesses from offering a retirement plan to their workers are an assortment of... READ MORE
What's in the episode? ‘Retirement provocateur’ Kathleen Kennedy Townsend played an instrumental role in the debate over retirement issues, resulting in significant policy ideas. A founder of the Georgetown University Center for Retirement Initiatives, the 40-year political veteran and former... READ MORE
A bill currently before the Georgia legislature would affect the exercise of fiduciary duty regarding the investment of retirement plan assets. The legislation includes a provision that would require a fiduciary to put the interests of participants and their beneficiaries ahead of “nonpecuniary... READ MORE
A big plan has struck a big cash settlement in an excessive fee suit involving the use of proprietary investment products in its 401(k) plan. The suit was brought by a number of plaintiff-participants relating to the management of the New York Life Insurance Company Employee Progress-Sharing... READ MORE
A hearing that was billed as “taking a serious look at the retirement crisis in America” with a focus on improving the defined benefit system ended with witnesses agreeing that some reforms are needed, but calling for drastically different measures. The Feb. 28 hearing was held by the Senate... READ MORE
Familiar 401(k) critic Teresa Ghilarducci testified before Congress on Feb. 28, claiming America’s retirement system is “severely broken” and seniors must either “work or rely on the kindness of strangers to dodge the increasing risk of elder poverty." Ghilarducci, a professor at the New School... READ MORE
ASPPA is looking for presenters for its upcoming 2024 conference, which will be held Oct. 20-23 in Orlando, Florida.  The speaker nomination process enables individuals to nominate themselves or others, focusing on identifying expertise areas and selecting topics from a provided list. ASPPA... READ MORE

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