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Guaranteed Income
The latest deadline for registering with the Connecticut Retirement Security Program — also known as MyCTSavings — looms. And the program itself could be fine-tuned if legislation now before the state House of Representatives is enacted.
The Connecticut Retirement Security Program is a state-...
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Smoky Mountains, ocean shore. Disparate settings, but a common legislative thread — legislation is before the legislatures of Tennessee and Rhode Island that would add those states to those that provide a state-sponsored retirement plan for those whose employers do not.
The Volunteer State
The ...
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The Congressional Research Service (CRS) has provided an overview concerning the Social Security full retirement age (FRA) and what changes to it mean. This is especially timely since the effects of adjustments made under a reform measure enacted in 1983 are kicking in.
About the FRA
A worker’s...
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It's time for Valentine's Day — and, as usual, there’s been the typical seasonal promotions for flowers, candy, and even pajamas.
I’ve been pretty good over the years remembering those type events — anniversaries (wedding AND dating), birthdays and, yes — Valentine’s Day. But sometimes the time...
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Newly released data from year-end 2022 shows that the volume and dollar amount of 401(k) loans and hardship withdrawals decreased, but there were some nuances to the findings.
In a new quarterly report that draws on data from more than 3 million 401(k) plan participants, Bank of America’s 401(k)...
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Employee participation in retirement plans could be better, by some measures. How to improve it has long been a topic of discussion — and knowing what employees are looking for in a plan is a key factor in bringing that about.
It’s the Economy, S_____
What employees want can be a bit of a moving...
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There’s no one silver bullet likely to close the nation’s retirement plan coverage gap — but the target is pretty easy to spot.
As it turns out, the nation’s retirement plan access coverage gap is almost exclusively found among small businesses, and it’s not hard to imagine why. The failure rate...
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A bill is before the Maryland House of Delegates that would require the State Board of Trustees of the Maryland Teachers and State Employees Supplemental Retirement Plans to implement an automatic enrollment arrangement for state employees hired on or after Jan. 1, 2024
Del. Tony Bridges (D-...
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It may be winter, but the heat continues for CalSavers. The CalSavers Retirement Savings Board, which administers CalSavers, reports that the program continues to grow. In fact, growth in January outstripped that of December regarding total assets and average funded account balance.
More...
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OregonSaves, CalSavers, Illinois Secure Choice…call it what you will, they and their counterparts boil down to one basic thing — a retirement plan sponsored by the state government to provide at least some kind of retirement plan coverage for individuals who lack access to one. In most cases, that...
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There were mixed results for private-sector pension plans in January, according to a variety of gauges — but the overall picture had some good news.
Willis Towers Watson reported a slight chill — its WTW Pension Index decreased 1.3% since December 2022. It attributed that result to an increase in...
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More public-sector employees have access to retirement plans than their counterparts in private industry, reports the Bureau of Labor Statistics (BLS). Same is true regarding participation.
In its Feb. 1, 2023 The Economics Daily, the BLS provides a snapshot of access to, and participation in,...
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The Pension Benefit Guaranty Corporation (PBGC) on Jan. 27 announced the appointment of John Hanley as Chief of Negotiations and Restructuring.
Since joining the PBGC in 2005, Hanley has served in several leadership positions, including Deputy Chief of Negotiations and Restructuring. He has worked...
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The Pension Benefit Guaranty Corporation (PBGC) on Jan. 25 announced a final rule amending the special financial assistance (SFA) regulation to add an exception process for certain withdrawal liability conditions that apply to a plan that receives SFA. The final rule is effective Jan. 26, 2023....
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Pensions obviously benefit retirees, their dependents and their beneficiaries. But while it may be less obvious, pensions also benefit society writ large — to the tune of trillions, with a T.
The National Institute on Retirement Security (NIRS) every two years updates its Pensionomics analysis...
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It’s ironic that programs designed to provide retirement income pay so little attention to the realization of that objective. Still, some have said that this could be the year for retirement income — a combination of new offerings, volatile markets, and rising interest rates — and yet, it still...
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While the long-term economic impact of the pandemic remains unclear, one thing that is clear is the highest inflation in decades has forced many Americans to reevaluate their retirement saving habits.
This is according to a new survey from U.S. News & World Report’s 360 Reviews revealing that...
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The Colorado Department of the Treasury on Jan. 18 announced that the Colorado SecureSavings Program is open for businesses to register with it.
The Centennial State’s state-sponsored retirement savings program for those whose employers do not offer a retirement plan is intended to provide...
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To address the ongoing retirement savings gap, all but three states have initiated or passed legislation to set up a state-sponsored retirement savings plan (SSRP), and while early implementation efforts so far have been successful, a new report suggests there’s room for improvement.
Indeed,...
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Almost immediately after the New Year’s champagne stopped pouring, legislation arrived in the Mississippi House of Representatives that would establish a state-run plan that would provide retirement plan coverage for private-sector employees whose employers do not offer one.
Rep. Orlando Paden (D...
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