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BY Ted Godbout 3/20/2024
Expanding its universe from HSAs, FSAs and other employee-benefit accounts, HSA Bank this week announced that it will begin offering an emergency savings account (ESA) solution.
The ESA is an employer-sponsored, consumer-owned bank account intended to help employees save for unexpected expenses...
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BY Ted Godbout 3/20/2024
If ever there were any doubts about the benefits of having a formal financial plan to help prepare for retirement, a new study by T. Rowe Price puts that to rest.
According to the firm’s report, individuals with a formal financial plan were found to have two to four times more wealth when entering...
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BY Jenny Kiffmeyer, JD 3/20/2024
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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BY Ted Godbout 3/20/2024
Coming mere days after the Securities and Exchange Commission (SEC) released a final rule requiring registrants to disclose certain climate-related information, a federal appeals court has issued a temporary stay halting implementation of the regulation.
A three-judge panel of the U.S. Court of...
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BY Ted Godbout 3/19/2024
A new report by a collaborative of industry stakeholders suggests that low-cost, plan-design solutions to nudge participants to avoid early withdrawals could make a significant dent in the racial and gender retirement savings gap.
The report also observes, however, that more study is needed to...
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BY Nevin E. Adams, JD 3/19/2024
March is coming in like a lion with a new “genre” of ERISA litigation.
While it’s early yet, two—and now three—recent suits—filed by different law firms in different federal district courts—might be the first of a new wave of litigation. All focus on decisions to mitigate corporate risk exposure...
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BY Nevin E. Adams, JD 3/19/2024
An interesting—and somewhat counterintuitive—report came out last week, one that cast doubt on the “common wisdom” regarding Roth versus traditional pre-tax savings.
The assumption underlying the research[i] was that those who had not yet paid taxes on their savings (the traditional pre-tax...
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BY Ted Godbout 3/18/2024
An early preview of Vanguard’s How America Saves 2024 finds that plan sponsors are continuing to make improvements to their plan designs.
The report reveals that 60% of plans with an automatic enrollment design defaulted their employees into the plan at a rate of 4% or higher—which is a new...
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BY Ted Godbout 3/18/2024
Following through on its warning, the Securities and Exchange Commission on March 18 announced that two investment advisers have settled charges with the commission for making “false and misleading statements” about their purported use of artificial intelligence (AI).
The firms—Delphia (USA) Inc....
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BY Glenn Merten, Emily Kile-Maxwell and Fred Reish 3/18/2024
Litigation against a plan sponsor inevitably draws in the plan’s investment advisor and can cause significant costs and disruption. Here’s what to do.
Employee Retirement Income Security Act (“ERISA”) litigation continues at a rapid pace and with massive settlement numbers. Most recently, General...
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