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BY John Sullivan 3/13/2024
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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BY John Sullivan 3/13/2024
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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BY John Sullivan 3/13/2024
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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BY David Witz 3/12/2024
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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BY Nevin E. Adams, JD 3/12/2024
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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BY Nevin E. Adams, JD 3/12/2024
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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BY John Iekel 3/12/2024
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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BY Ted Godbout 3/11/2024
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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BY Ted Godbout 3/11/2024
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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BY David Blanchett 3/11/2024
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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