Employer Mandate Key to Harkin Plan

Employers are the key to a plan Sen. Tom Harkin (D-Iowa) unveiled Jan. 30 to dispel what he calls the “dark clouds” of retirement insecurity. Under Harkin’s “Universal, Secure and Adaptable (USA) Retirement Funds Act,” employers would be required to offer a new kind of retirement account.   Read More

Treasury Secretary Touts ‘MyRAs’

Touting President Obama’s “MyRA” program, Labor Secretary Jacob Lew expanded on the proposal in a Jan. 30 letter. The new program is being created for low and middle income workers who do not have access to an employer-sponsored retirement plan, which is about 64% of private sector workers.   Read More

Plan Sponsors’ New 3-Part Role

Most plan sponsors are reluctant to make a change in their plan if nothing is broken internally. Few plan sponsors are able to envision the team requirements that are necessary to successfully design and implement a better retirement plan, writes Steff Chalk in the Winter issue of NAPA Net the Magazine.   Read More

President Attacks Tax Incentives for Retirement

The chatter about retirement benefits leading up to President Obama’s State of the Union address was that he will direct the Treasury Department to create a new federal retirement savings vehicle aimed at workers who lack access to a retirement savings plan at work. In fact, the president did mention this new “myRA.” Unfortunately, though, he coupled it with an attack on the tax incentives for retirement savings.   Read More

Graying of American Workforce Continues

The percentage of workers over 55 years old has increased dramatically over the last 20 years, and is expected to rise even more in the next 10 years, according to research from the U.S. Bureau of Labor Statistics. From 1992-2002, the percentage of older workers increased from 11.8% to 14.3%. It stood at 20.9% in 2012, and is projected to reach 25.6% in 2022.   Read More

Last Week’s Top 5 Posts on NAPA Net

Last week’s top five most-read posts on NAPA Net reflected keen interest in the inclusion of brokerage windows on the DOL’s 2014 agenda, Mohamed El-Erian’s departure from PIMCO, which record keepers and DCIOs have the top brands, the sale of Cetera and Jerry Bramlett’s commentary on why target date funds can be a fiduciary headache.   Read More