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It’s been several years since the pandemic began, and its impact is still felt, as many Americans now opt for a non-traditional approach to retirement.
According to Fidelity Investments, 66% of respondents say the pandemic made them more “intentional” about focusing on their personal passions and...
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Millennials are defining retirement by independence rather than age.
Accroding to a recent survey from IRALOGIX, over half say retirement is defined not by age 65 but by financial independence where they can indulge their lifestyles without relying on traditional employment.
When asked if they...
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A new study finds that people who rely on "deferred tax" accounts to save for retirement may exhaust their savings faster than people who use "currently taxed" accounts.
In the U.S., some retirement savings instruments are deferred tax (DT) accounts, in which users pay taxes on the money only when...
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In a recent article published by NAPA titled “Litigation Landscape: Targeting TDFs, ‘Meaningful’ Markers and Pre-Litigation Letter Campaigns,” authors Bonnie Treichel and Nevin Adams both highlight the importance of proper documentation by plan sponsors to mitigate litigation risk.
Many other...
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An excessive fee suit decision that starts out noting that the “defendants are fiduciaries of a 401(k) plan that, between 2016 and 2022, substantially reduced the recordkeeping fees charged to plan participants” doesn’t bode well for the plaintiffs.
And in fact, the very next sentence—from U.S....
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As St. Patrick’s Day approaches, I’m reminded of a trip my younger brother and I made with my grandparents to the Great Smoky Mountains.
Now, my grandparents had made many trips to that area, but it was a new experience for me and my brother. To this day I remember a hotel that had a pool with a...
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Add the Evergreen State to those that provide retirement plan coverage for private-sector employees whose employers do not. Well, soon.
Sen. Mark Mullet (D-Issaquah) introduced SB 6069, the measure creating Washington Saves, on Jan. 9, 2024. The Senate passed it on Feb. 12; the House initially...
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Harkening back to the early days of the administration, President Biden’s fiscal year 2025 budget, once again, proposes significant tax increases on corporations and upper-income taxpayers, including a proposal to limit how much taxpayers are allowed to accumulate in their retirement plans....
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While it may come as no surprise, a new survey finds that nearly all Americans (97%) agree that the financial professional who provides one-time recommendations or other one-time advice about retirement investments should be required to act in their client's best interest.
This includes a...
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The decision about when to claim Social Security retirement benefits is a topic that is well covered in the financial press since most American retirees either are currently receiving retirement benefits or can expect to do so. Research typically suggests that retirees, especially healthier...
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The Office of Management and Budget (OMB) received the fiduciary rule, listed as Retirement Security Rule: Definition of an Investment Advice Fiduciary, from the Department of Labor (DOL) on Friday.
The OMB will review its costs and benefits within 90 days. However, the compressed two-month...
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The Standard is expanding its retirement plan investment solutions with the introduction of professionally managed accounts that provide personalization to help employees work toward their retirement goals, according to an announcement by the firm.
The TargetPro Portfolios solution creates...
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While there’s an emerging sense of optimism among women that the economy is improving, many unfortunately still worry about achieving financial security, particularly in the areas of retirement savings and paying down debt.
Released in celebration of Women’s History Month, these findings are...
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The solvency of Social Security is not a new concern. It’s been on a slow—or, at times, high—burn for more than 40 years. Proposals to address the problem are almost as numerous as the warnings about it; in a recent report, the Congressional Research Service takes a look at the potential impact of...
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Well, here we are again at the end of yet another workweek…and yet, just look at what has happened to these guys and gals…
In Las Vegas, Nevada, the Bellagio paused its famous fountains as it welcomed one of “the most exclusive guests”…
In Kennesaw, Georgia, an unnamed woman had an unspecified...
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[Updated: On Friday morning, the House passed H.R. 2799, Expanding Access to Capital Act of 2023, the larger bill that included the CITs in 403(b)s amendment, on a party line vote of 212 - 205 (see image). The bill will now go to the Senate. A quote from ARA CEO Brian Graff is added below.]
On...
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OneAmerica Financial announced the launch of a new investment option that the firm suggests is ideal for clients looking for a target date series that may be more cost-effective than traditional target date funds (TDFs).
RetirementTrack American Funds is an actively managed target date series of...
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While plan sponsors are generally the focus of ERISA litigation, retirement plan advisors can be a target of lawsuits for breach of fiduciary duties under the Employee Retirement Income Security Act of 1974 (ERISA).
There has been a recent increase in ERISA claims filed against retirement plan...
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It’s hardly news that younger generations like to (over)share, particularly on Insta, TikTok, and other social media apps, which can lead to questionable outcomes with long-term consequences.
Yet, with health and finances, this propensity to divulge personal information could work in their...
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It is now possible to offer plan participants in 401(k), 403(b), and 457(b) plans the option to treat employer contributions as Roth contributions, under the SECURE 2.0 Act.
More precisely, it is Section 604 of the SECURE 2.0 Act that allows plan participants to elect to have any fully vested...
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Content distribution has evolved significantly. It’s no longer a linear, one-way street but rather a loop.
Understanding the digital landscape and how to leverage it for business development has become a critical skill for 401(k) advisors. This article will delve deeper into the content creation...
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Some recent suits—and federal court rulings—provide some timely reminders about the importance of a prudent process and following the plan document.
In this podcast episode, Nevin (Adams) & Fred (Reish) discuss the background, issues, and implications behind:
(1) Suits regarding...
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Touted by proponents as a way to “enhance and standardize climate-related disclosures by public companies and in public offerings,” a divided Securities and Exchange Commission on March 6 approved new rules extending nearly 900 pages; the Commission, however, didn’t go as far as what it originally...
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Movement on the issue of allowing 403(b)s to use collective investment trusts (CIT) could happen Wednesday with a possible House vote on the Retirement Fairness for Charities and Educational Institutions Act, an amendment to H.R. 2799, Expanding Access to Capital Act of 2023.
The amendment would...
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ERISA consultants at the Retirement Learning Center Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings and income plans, including nonqualified plans, stock options, and...
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