Advertisement
Guaranteed Income
A big piece of fixing Alaska’s problem with teacher staffing is addressing retirement plan issues, says none other than the Majority Leader of the State Senate.
Cathy Giessel (R-Anchorage), the Majority Leader of the Alaska Senate, made her comments as a panelist in the June 12 National Institute...
READ MORE
Auto-enrollment can dramatically increase participation in a retirement plan—however, the degree to which it is beneficial varies depending on which party one considers, says a recent study.
Richard Patterson, an Assistant Professor and a Director of Long-Run Research in the Office of Economic and...
READ MORE
Limit spending, work longer, maximize contributions, buy annuities, delay claiming Social Security, buy long-term care insurance, increase equity allocations, or relocate to cheaper housing. These are just some of the messages that retirement savers are bombarded with about how to personally manage...
READ MORE
Nevada is poised to become another state with a state-run retirement savings program for private-sector employees.
The Nevada Assembly passed the bill, SB305, on June 4 by a vote of 35-7. Senate Chief Majority Whip Dallas Harris (D-Las Vegas) introduced the bill on March 16; it was referred to...
READ MORE
Vermont is now among the states providing a state-run plan for private-sector employees whose employers are not. Gov. Phil Scott (R) has signed into law the measure that called for the creation of their iteration.
On June 1, Scott signed S. 135, the bill that creates VTSaves. Action on the...
READ MORE
“Fair freshhe May,” wrote Chaucer. Perhaps he was referring to this one, which smiled kindly on private-sector pension plans according to several reports.
Funded Status
Reports show that the funded status of private-sector pension plans improved in May, according to October Three, Wilshire and...
READ MORE
The shift from defined benefit plans to defined contribution plans is not new. It may be less common in the public sector, but it is not unknown among public employers. A recent study looks at what that has meant for the Alaska education sector.
The National Institute on Retirement Security (NIRS...
READ MORE
Legislation is before the New York state Senate that would allow certain employees of the city of New York to be automatically enrolled in the New York City Board of Education Retirement System.
The state Assembly has passed the legislation; a third committee of the state Senate is now...
READ MORE
There is pressure from state legislatures for action concerning the windfall elimination provision (WEP) and the government pension offset (GPO). Both are benefit formulas that reduce Social Security benefits for workers and their eligible family members if the worker receives (or is entitled to) a...
READ MORE
The odds increased of Nevada becoming the next state to provide retirement plan coverage to private-sector employees whose employers do not, when the state Senate on May 29 voted in favor of legislation that would do just that.
SB305 was introduced on March 16, 2023.
ARA Support
The American...
READ MORE
With more than a third of the U.S. workforce said to be currently engaged in temporary, contract or on-demand work, a bipartisan group of senators has reintroduced legislation to test “innovative portable benefit designs” to help level the playing field for these workers who lack access to benefits...
READ MORE
The ink is barely dry on the measures that created state-run retirement plans in Connecticut and Maine that provide coverage for private-sector employees whose employers do not, but already bills are advancing in the legislatures in those states to fine-tune those programs.
Connecticut
The...
READ MORE
The Pennsylvania House of Representatives on May 24 passed HB 577, a bill that would create the Keystone Saves Program, which would be an automatic enrollment payroll deduction IRA retirement savings program.
The measure passed in a 106-95 vote. All 101 Democrats in the state House voted for it,...
READ MORE
Minnesota became the latest state to officially launch a state-sponsored retirement plan for private-sector employees lacking coverage.
Gov. Tim Walz (D) signed HF0782, the measure that creates the Minnesota Secure Choice retirement program, into law on May 19, making it one of 12 states offering...
READ MORE
Concern about Social Security is as perennial as it is rife. A panel of experts in a recent seminar offered some suggestions for addressing the challenges facing the system.
Panelists in the recent National Institute on Retirement Security (NIRS) webinar “Social Security: What’s Next and New...
READ MORE
April, it has been said, is the cruelest month. No offense to Chaucer, but CalSavers — the Golden State’s state-run retirement plan for private-sector employees whose employer do not offer one — may beg to differ. In the fourth month of 2023 its total assets surpassed half a billion dollars. ...
READ MORE
Almost 70% of near-retirees either failed or barely passed MassMutual’s latest Social Security retirement benefits quiz. Over one-third failed (35%), and another one-third received a D (34%).
More than a quarter of near-retiree respondents did not know that if they have a spouse, the other spouse...
READ MORE
CalSavers, the state-run retirement plan that covers private-sector employees whose employers don’t offer a plan, is growing — but so far this year, the expansion in assets is outstripping that of registrations.
Registrations
Month-to-month growth in employer registrations was still...
READ MORE
The Land of 10,000 Lakes is poised to become the next to adopt a measure creating a state-run retirement program that provides coverage for private-sector employees whose employers do not.
The state Senate approved the bill that would do so on May 11, and the House had done so 10 days earlier; the...
READ MORE
Ah, Spring: one day cold, one day warm. Like Mother Nature, private-sector pension plans showed mixed results in April, according to multiple reports.
Funded Status
Reports about how the funded status of private-sector pension plans fared in April varied, but they were fairly consistent...
READ MORE