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Guaranteed Income
While estimates of the size and growth of “gig employment” vary, there are several indications that gig work is here to stay, even though such work may have a destabilizing effect on personal financial security, a new survey shows.Noting that it conducted the survey to better understand the...
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Millennials are taking steps to save early for retirement, but they also have higher expectations that employers should be offering access to a retirement savings plan and socially responsive investments, according to new survey results.The Capital Group’s Wisdom of Experience survey found that...
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What’s left of Hurricane Irma has not yet wrung itself dry, but already the IRS, Department of Labor and Pension Benefit Guaranty Corporation (PBGC) have announced fresh relief for its victims — as well as those of still very recent Hurricane Harvey.Part of the relief extends to Irma victims what...
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Being prepared not just for a rainy day but for years — perhaps many — of post-workforce life drives strategies and safety nets. And analyses often warn that all the effort is insufficient. But panelists at a recent discussion concerning studies on retirement income suggest that the prospects for...
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Watching the incredible, heart-rending coverage of Hurricane Harvey’s devastation, I was reminded of a personal experience with nature’s fury.It was 2011, and we had just deposited our youngest off for his first semester of college, stopped off long enough in Washington, DC to visit our daughters (...
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OregonSaves, the Oregon Retirement Savings Program, has invited additional Oregon employers to register for its pilot program.OregonSaves reports that it has invited more than 40 additional employers to do so. By June 20, 11 employers had registered. OregonSaves says that brings the total potential...
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The Oregon Treasury has unveiled a proposal to modify the Oregon State Retirement Program (ORSP).The proposal would create new rules and modify existing rules for the ORSP. Specifically, the rules: clarify the definitions in certain joint employment relationships; allow for non-payroll...
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There’s more to required minimum distributions (RMDs) than simply making payments. A recent white paper reminds that the responsibility of making RMDs includes fulfilling it on time.In the recent white paper “Are You Overlooking Required Beginning Dates?” William Grossman notes that Internal...
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Several years back, a group of us were talking about the rising cost of gasoline, when I quite casually mentioned, “Well, at least we’re not having to wait in lines to buy it.” At which point it was obvious from the reaction of the group that I was the only one who had had that particular...
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Many argue that re-enrolling 401(k) participants into target date funds (TDFs) benefits them and their beneficiaries. But a recent blog entry argues that it’s also good for a plan itself.In “Seven Reasons to Re-enroll Your 401k Participants,” Robert Lawton outlines reasons why he believes re-...
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In the next 20 years, more than a million plan participants covered by 114 multiemployer plans could lose pension benefits, according to a recent study.The actuarial consulting firm Cheiron has announced that it has found that those plans are underfunded by $36.4 billion — they collectively have...
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The Pew Charitable Trusts recently published a report reviewing the findings of a survey to gauge employer reactions to leading state retirement policy ideas where they found strong support among small and mid-size businesses for automatic IRA programs, multiple employer plans (MEPs) and online...
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A new academic study offers some insights on taxpayer preferences for pre-tax versus Roth savings — at least in certain conditions.The study — which carries the somewhat unwieldy title “The Relative Effects of Economic and Non-Economic Factors on Taxpayers’ Preferences Between Front-Loaded and Back...
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There’s good news and bad news, says the Pension Benefit Guaranty Corporation (PBGC). In its latest projections report, the PBGC says that the deficit its single-employer program has registered likely will end in the near future; however, the results for the multiemployer program are likely to be...
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New survey results from LPL Financial suggest that well-targeted tax incentives for either starting a retirement plan or automatically enrolling employees in one may be a powerful motivator for small businesses to adopt and enhance a retirement plan for their employees.Based on the survey’s...
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The Treasury Department on July 28 announced that it will begin winding down the myRA program. Treasury’s action, which will end the program started in 2014, comes after a review of the program and its cost-effectiveness. U.S. Treasurer Jovita Carranza said in a press release that Treasury will be...
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A new Morningstar analysis finds no relationship between fund manager changes and future returns — but there are impacts.“A management change is not predictive of a performance downturn,” notes Quantitative Analyst Madison Sargis and Kai Chang, Director of Quantitative Research at Morningstar. “In...
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The American Retirement Association (ARA) on July 17 sent a letter to Senate Finance Committee Chairman Orrin Hatch (R-UT) expressing its strong support for tax incentives to encourage retirement savings.“The goals of achieving a tax code that is efficient, fair, and increases the financial and...
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The surging stock market may have muted suits brought by participants regarding employer stock holdings — but a new one claims to be “about the defendants’ abject failure, as plan fiduciaries, to protect the interests of the participants.”The plan at issue this time is Sears Holdings Corp., which,...
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Automatic enrollment is the single most important feature an employer can adopt for Millennials and new hires to participate in a company’s DC plan, according to a new study from Wells Fargo.Based on an analysis of four million people who participate in 401(k) plans provided by the firm, Wells...
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