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John Sullivan

By John Sullivan | 3/27/2024
Longevity and greater spending are “putting the U.S. retirement system under immense strain,” BlackRock CEO Larry Fink wrote in his annual letter to shareholders. In the letter, bluntly titled “Time to Rethink Retirement,” Fink argued that capital markets will be critical in addressing what he... READ MORE
By John Sullivan | 3/22/2024
It’s the latest iteration of the auto revolution (enrollment, escalation, portability). While not directly related to 401(k)s, an idea for automatic adjustments involves retirement income—specifically, Social Security. Alicia Munnell and William Arnone, two familiar names in retirement plan... READ MORE
By John Sullivan | 3/21/2024
The Republican Study Committee (RSC), a conservative caucus to which most House GOP members belong, released its Fiscal Year 2025 Budget proposal, “Fiscal Sanity to Save America,” on Wednesday. It said the budget would address the federal spending problem and pay down debt so that it would “... READ MORE
By John Sullivan | 3/21/2024
Capitalize, the 401(k) “locator” and rollover technology firm, is in good company. The firm collaborated with the Center for Retirement Research (CRR) at Boston College on its 401(k) Statistics Tracker, which was released on Wednesday.   The Tracker found that nearly 6 in 10 U.S. workers now... READ MORE
By John Sullivan | 3/15/2024
It’s increasing, but is it enough? Stubbornly high inflation has The Senior Citizens League (TSCL) raising its 2025 COLA estimate to 2.4%, based on the Bureau of Labor Statistics’ Consumer Price Index (and increase of 3.2%) released Tuesday. While it’s still very early, the one percentage point... READ MORE
By John Sullivan | 3/14/2024
Retirees are generally happier in retirement than in the workforce, but like many things in life, there are gaps between expectation and reality according to the latest MassMutual Retirement Happiness Study. "The happiest retirees invest not just in their financial futures but also in their social... READ MORE
By John Sullivan | 3/14/2024
Tom Hansen and Tony Michael didn’t like the limitations of the recordkeeping software available on the market, so they built their own. The proprietors of inVesti Financial developed inVesti-RKS (Record Keeping Services) platform and successfully integrated this week with UMB Bank and Matrix... READ MORE
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... READ MORE
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... READ MORE
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... READ MORE
By John Sullivan | 3/9/2024
  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... READ MORE
By John Sullivan | 3/7/2024
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... READ MORE
By John Sullivan | 3/7/2024
[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... READ MORE
By John Sullivan | 3/6/2024
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... READ MORE
By John Sullivan | 3/5/2024
An important (and frustrating) point about the coverage gap is that despite industry outreach and education efforts, too many American workers and their employers are simply unaware of the benefits and incentives available to encourage them to save for retirement. The Saver’s Credit, also called... READ MORE
By John Sullivan | 3/4/2024
It wasn’t high costs or 401(k)s—necessarily—that ended the corporate pension plan’s reign, but rather ERISA itself. A recent paper from John Langbein, Yale Law School’s Sterling Professor Emeritus of Law and Legal History, argued that the 1974 landmark law's structure made defined benefit (DB)... READ MORE
By John Sullivan | 2/29/2024
Coachella shocked concertgoers at the appearance of a surprise performer—iconic rapper Tupac Shakur—on the final day of the hipster music festival in 2012. Shakur, killed in a hail of gunfire while stopped at a red light in Las Vegas over 15 years earlier, danced, sang, and responded as a... READ MORE
By John Sullivan | 2/28/2024
Familiar 401(k) critic Teresa Ghilarducci testified before Congress on Wednesday, claiming America’s retirement system is “severely broken” and seniors must either “work or rely on the kindness of strangers to dodge the increasing risk of elder poverty." Ghilarducci, a professor at the New School... READ MORE
By John Sullivan | 2/23/2024
Consumers are increasingly aware of newer fintech firms, but is it translating to new assets? Tech-powered offerings from new entrants now lead those form traditional financial services firms. Still, only a few are converting that awareness into significant business, according to a new report... READ MORE
By John Sullivan | 2/22/2024
On Tuesday, the American Retirement Association (ARA) sent a letter to the Internal Revenue Service (IRS) that addressed technical issues affecting certain SECURE 2.0 provisions. It noted a few that are of particular relevance to retirement plan sponsors and advisors. More specifically, the ARA... READ MORE

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