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The Vermont House of Representatives has passed legislation that would create VTSaves, bringing the state one step closer to becoming the latest to establish a state-run retirement program to provide coverage to private-sector employees whose employers do not.
The state Senate had passed S.135 on...
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A bill that would establish a state-run retirement plan to provide coverage for employees whose private-sector employers do not is working its way through the Pennsylvania legislature.
The Commerce Committee of the House of Representatives on May 3 voted in favor of HB 577 in a 12-8, party-line...
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I recently met some friends for lunch – but the only seats available were those high-back stools you basically have to climb up to in order to sit. But that wasn’t the worst of it.
As it turned out, my seat…wobbled. Which is to say that it basically rocked even as I sat there. Now, I’m all about...
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Now is the time to act in order to avoid “draconian” cuts to Social Security benefits, warns a recently released issue brief.
And doing so, continues the Center for Retirement Research at Boston College in “Social Security’s Financial Outlook: The 2023 Update in Perspective,” would be a more...
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The third rail of American politics isn’t what it should be, according to Republican Sen. Bill Cassidy, (R-LA).
“We have to redefine what that third rail is,” Cassidy said when asked about prospects for a Social Security fix. “The third rail, according to our leading presidential candidates, is...
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The California Retirement Savings Board has issued a request for proposals (RFP) for consulting services for CalSavers, the state-run retirement plan that provides coverage for private-sector employees whose employers do not.
The Board seeks a contractor to provide technical and administrative...
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A bill has been introduced in the Maine House of Representatives that would prohibit consideration of nonpecuniary factors such as environmental, social, corporate governance (ESG) factors in investment of Maine Public Employees Retirement System funds.
Rep. Chad Perkins (R-Dover-Foxcroft)...
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A bill to establish the Minnesota Secure Choice Retirement Program (HF 782), a state-sponsored auto-IRA, passed through the Ways and Means Committee in the Minnesota House on Monday with the bill’s author praising “nerdy group” American Retirement Association (ARA) for its help and support.
Rep....
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The Department of Labor’s Employee Benefits Security Administration (EBSA) on April 25 issued frequently asked questions (FAQs) on the annual funding notice requirements for multiemployer pension plans that received special financial assistance (SFA) funds under the American Rescue Plan (ARP) Act...
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I’ve been honored with a lot of praise and congratulations over the past couple of months about my “retirement” (and not a little skepticism about my understanding of the term) — but in quiet moments, there’s been one question that keeps coming up.
That question — and it generally arises once...
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A bill is before the Maine legislature that would amend the Maine Retirement Savings Program in a variety of ways.
Background. Gov. Janet Mills (D) signed the Act To Promote Individual Retirement Savings through a Public-Private Partnership (LD 1622) into law June 24, 2022. The legislation had...
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A measure that would create a state-run retirement plan to provide coverage for private-sector employees in Minnesota whose employers do not is under consideration in the state legislature.
Multiple committees in both the state Senate and House of Representatives looked at The Minnesota Secure...
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Most Americans do not think they can depend on Social Security for retirement income, adding to their worries about long-term financial stability, a new study from Allianz Life finds.
According to the firm’s 2023 1Q Quarterly Market Perceptions Study, nearly three in four (74%) respondents do...
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Warnings that Social Security’s long-term solvency is questionable are not new. But how about a little good news? A recent analysis suggests that maybe all is not lost.
The glass is half full, argue Kathleen Romig, Director of Social Security and Disability Policy at the Center on Budget and...
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Connecticut Comptroller Sean Scanlon has announced that the registration deadline for MyCTSavings has been extended to Aug. 31, 2023.
The Connecticut Retirement Security Program — also known as MyCTSavings — is a state-sponsored program that provides retirement plan coverage for those whose...
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Private-sector pension plans had a good start to the year, according to studies that say funding ratios improved in the first quarter of 2023.
Both October Three and financial services firm Wilshire report that even though those plans lost ground in aggregate funded ratios in March, they...
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Vermont is the latest state to push for a mandatory auto-IRA for uncovered workers and is close to getting its wish.
The Green Mountain State’s Senate swiftly and unanimously passed the VTSaves public retirement initiative on Thursday, which was introduced with the support of AARP in March. ...
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A bill that would create a state-run multiple-employer retirement savings plan in the Show Me State is moving through the state House of Representatives toward consideration by the full chamber.
The measure, which Rep. Michael O’Donnell introduced on Jan. 4, had been referred to two House...
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Social Security continues to face “significant financing issues,” says the Board of Trustees of the federal Old-Age and Survivors Insurance and Disability Insurance (OASDI) Trust Funds in its annual report to Congress. It notes that it has arrived at that finding in prior years.
The Board calls on...
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Even though the ink is barely dry on the SECURE 2.0 Act, there’s no rest for the weary, as some in Washington are pushing a federal government-run retirement system that would unfairly compete with the private sector, warned Brian Graff on April 2.
Graff, who serves as CEO of the American...
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