News Archive

Acting with a sense of urgency to avoid a first-ever federal debt default, the U.S. Senate late Thursday approved legislation to suspend the federal debt limit until 2025, clearing the measure for President Biden’s signature, expected today. The Senate vote on the Fiscal Responsibility Act of 2023... READ MORE

Well, here we are again at the end of yet another workweek—and yet, just look at what happened to these guys and gals… First, some odds and ends… In Fort Meade, Maryland, a new Zillow listing for a property for $42,069, but cautioned that “all 15 bathrooms come with sewage issues," the listing... READ MORE

Independent financial advisors could get some regulatory relief from the Securities and Exchange Commission (SEC) through legislation approved by the House of Representatives. On May 30, the House passed by an overwhelming vote of 367–8 the Small Entity Update Act (H.R. 2792) requiring the SEC to... READ MORE

For those born between 1964 and 1978, planning for the new retirement reality is particularly challenging.   Unlike Millennials, who still have plenty of time to save before retirement, and Boomers, many of whom are already in retirement, Generation X is realizing that retirement is getting closer... 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

Evan Greebel, pharma bro Martin Shkreli’s lawyer and co-conspirator, lost his bid to protect his 401(k) from garnishment to pay restitution to his victims. The Supreme Court declined to hear the case, effectively ending Greebel’s quest to keep his retirement plan free from a $10.4 million judgment... READ MORE

ERISA consultants at the Retirement Learning Center (RLC) 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... READ MORE

A surprising finding in a comprehensive report from earlier this year is that there is no gender gap between men and women in access to employer-based retirement plans, and participation rates are also consistent between the genders. Unfortunately, the same cannot be said for savings, with women... READ MORE

I hadn’t been to the dentist in a long time. A VERY long time. Two weeks ago, and at the encouragement of my wife, I finally went back to the dentist. I hadn’t been since COVID, and that period provided a very good excuse for avoiding that visit. Turns out, I hadn’t been for quite a while before... READ MORE

The IRS has issued guidance on Section 305 of SECURE 2.0 regarding the expansion of the Employee Plans Compliance Resolution System (EPCRS). The guidance is contained in Notice 2023-43, which provides interim guidance in advance of an update to Revenue Procedure (Rev. Proc.) 2021-30. The issues... READ MORE

Confused about cryptocurrency? Here’s how investors are making money. Warren Buffett famously said, “If you’ve been playing poker for half an hour and you still don’t know who the patsy is, you’re the patsy.” A close relative of this maxim was coined regarding social media: “If you’re not paying... READ MORE

On Thursday, the Internal Revenue Service (IRS) released highly-anticipated guidance in the form of questions and answers involving expanding the Employee Plans Compliance Resolution System (EPCRS) included in Section 305 of SECURE 2.0. While billed as interim guidance not meant to be... READ MORE