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Trump administration officials are focusing on a former SEC enforcement attorney to replace Democratic Commissioner Kara Stein, who must step down by the end of the year, Bloomberg reported Aug. 6.Allison H. Lee served as a general attorney in the SEC’s Denver office from 2005 to 2013, followed by...
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To be sure, missing participants pose a significant and vexing challenge to plans, TPAs and recordkeepers. But troublesome as they are, cashouts ultimately are an even bigger issue, a service provider suggests.
Calling cashouts “orders-of-magnitude worse,” Retirement Clearinghouse’s Tom Hawkins ...
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While interest surrounding financial wellness programs appears to be growing in the workplace, there continues to be a lack of understanding about the value they deliver to both employers and employees, according to a recent report.
In “Assessing the Merits and Challenges of Financial...
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The March 15 decision by the 5th U.S. Circuit Court of Appeals to invalidate the DOL fiduciary rule resolved some issues – and created some uncertainties for retirement plan advisers, most notably their status regarding rollover advice to plan participants in plans to which the adviser is currently...
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Multiple employer plans (MEPs) continue to generate plenty of discussion.The reason is the Small Business Employees Retirement Enhancement Act, introduced earlier this month by Sen. Tom Cotton (R-AR), which includes provisions regarding so-called “open” MEPs, a type of employee benefit plan that...
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While the vast majority of active retirement savers agree that accumulating enough savings is an important factor in their ability to retire comfortably, a significant subset is worried they’re already too far behind to reach their goals, a new study finds.According to Allianz Life’s Chasing...
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Conventional wisdom suggests that chances are slim that retirement policy legislation will be enacted in the remaining days of the legislative calendar going into the mid-term elections, but this year might be different.
The Senate currently remains in session, but the House has adjourned for its...
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Long-term financial security is an ultimate goal of any retirement plan and account. And as average lifespans grow, the term “long-term” takes on heightened importance. Thus the rise of retirement income solutions that seek to help provide financial resources for a lifetime. But a retirement plan...
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The American Retirement Association has weighed in on the SEC’s Regulation Best Interest proposal.Overall, the ARA’s Aug. 3 comment letter commends the commission’s efforts to tailor the proposed rules to “preserve investor choice with regard to business models and compensation practices in a...
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Join us for the 10th Annual Cincinnati ASPPA Regional Conference on Nov. 12-13, 2018.
Register now to save $100 off the regular registration fee.
Registration materials can be found at http://aspparegionals.org/ and hotel reservations may be made at https://book.passkey.com/event/49638425/owner/...
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Things continued to heat up in July for those average 401(k) balances.According to estimates from the nonpartisan Employee Benefit Research Institute (EBRI) based on the actual contribution records and investment choices of several million consistent participants in the EBRI/ICI database, the...
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OregonSaves, the state-sponsored auto-IRA program for private-sector workers in the Beaver State, may expand the savings options available to those workers.
A report issued Aug. 1 by the office of Oregon State Treasurer Tobias Read indicates that on July 18 the state Treasury began a new round of...
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Summer can be a great time to catch up on continuing education credits — and ASPPA has plenty of easy-to-access alternatives. We’ve got great information on compelling topics — and you can do it all without leaving your desk (or hammock).
Upcoming Live Webcasts
August 29 — How a Defined Benefit...
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Bipartisan legislation has been introduced in the U.S. Senate that would expand the ability of certain retirement plan sponsors to correct inadvertent compliance errors under the IRS’ Employee Plan Compliance Resolution System (EPCRS).
The bipartisan duo of Sens. Rob Portman (R-OH) and Ben Cardin...
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The New Jersey Secure Choice Savings Program Act, a measure that would create an automatic enrollment payroll deduction IRA in the Garden State, is before the state Assembly and the state Senate. It is intended to promote “greater retirement savings for private sector employees in a convenient, low...
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Legislation has been introduced in the U.S. Senate that would give any worker not currently covered by an employer-sponsored retirement plan access to a new type of retirement savings account.The American Savings Act, first introduced in January 2016 and reintroduced July 19 by Sen. Jeff Merkley (D...
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Eleven states and the District of Columbia have filed suit challenging the Department of Labor’s recently finalized association health plan (AHP) rule.
Arguing that the rule is unlawful and should be vacated, the state attorneys general from California, Delaware, Kentucky, Maryland, Massachusetts,...
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It isn’t hard to find a plan that has invested in target date funds (TDFs). But it can be hard to find assessments that ask hard questions about them. A recent white paper fills that void and asks whether TDFs are the panacea some may think.In “Are Target-Date Funds Enveloped by Unrealistic...
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In my experience, two big plan sponsor questions loom over financial wellness.The first – and this one gets answered many ways – is “what do you mean by financial wellness?” The other – and there’s some correlation with the former is – what’s the ROI?The quantification of return remains somewhat...
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Securities and Exchange Commissioner Hester Peirce on July 24 argued that the proposed Regulation Best Interest would set clear standards, even though the word “fiduciary” is not directly incorporated in the proposal.Addressing critics who remain unsatisfied, Peirce, who was sworn in in January...
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