Our Benefits and Executive Compensation group reminds plan sponsors to prepare for the IRS 2021 year-end changes and offers year-end measures. Qualified modifications Changes under the SECURE Act, CARES Act and hardship regulations Considerations for Safe Haven Plans This notice reminds sponsors of eligible pension plans of the upcoming deadlinesRead More →
CHICAGO, Oct.28, 2021 / PRNewswire / – HUB International Limited (Hub), one of the world’s leading full-service insurance and financial services brokerage firms, announced that it has won the Multiple Employer Plan (MEP) contract for the National Association’s Pension Plan of Manufacturers (NAM) for its more than 14,400 member companies.Read More →
HUB Wins Retirement Plan for National Manufacturers Association Retirement Plan Tweet this According to a recent study, 83% of small and medium-sized businesses consider pension plan offerings essential to attract and retain employees, and 58% say benefits can help improve productivity in the workplace. As the industry continues to faceRead More →
RADNOR, Pa .– (COMMERCIAL THREAD)–Today, Lincoln Financial Group (NYSE: LNC) announced that it is improving its retirement plan options by launching a Common Employer Plan (PEP), OpenPEP, in conjunction with NPPG Plan Professionals, a subsidiary of National Professional Planning Group, Inc. (NPPG ) and Morningstar Investment Management LLC, a subsidiaryRead More →
The Department of Labor’s Employee Benefits Security Administration (EBSA) released a report showing that pension plans are increasing in all aspects: number of plans, members, assets, contributions and disbursements. Data is taken from the 5500 series reports for plan years ending in 2019, the most recent available. The information presentedRead More →
A growing number of people approaching retirement age are using real estate investing as a nest egg. Why is UK housing considered such a safe investment? According to a recent report by Paragon Bank. Real estate investment in the age group increased by 52% between June 2020 and June 2021,Read More →
Pension plans are essential for recruiting and retaining employees and helping you stand out in the competitive job market, but there are plenty of choices. Some plans cost very little to set up and maintain, and almost all offer tax deductions for company contributions. The SECURE Act added some newRead More →
Pension plans are essential for recruiting and retaining employees and helping you stand out in the competitive job market, but there are plenty of choices. Some plans cost very little to set up and maintain, and almost all offer tax deductions for company contributions. The SECURE Act added some newRead More →
New York Governor Kathy Hochul on Thursday signed a law guaranteeing and requiring pension plan options for private sector employees. House Bill A3213A requires private sector employers of 10 or more people who do not provide their employees with a retirement savings plan to automatically enroll them in the state’sRead More →
Department of Labor Benefits Security Administration (EBSA) published a report this shows that pension plans are increasing in all aspects: number of plans, members, assets, contributions and disbursements. Data is taken from the 5500 series reports for plan years ending in 2019, the most recent available. The information presented includesRead More →
(Photo: Shutterstock) The role of a Third Party Pension Administrator, or TPA, is both demanding and highly collaborative – and, in my opinion, for many advisors, working closely with TPAs is simply essential. PTAs manage many day-to-day aspects of a pension plan, bringing their expertise in plan compliance, design andRead More →
Asset allocation First on the list of risks to consider is the asset allocation in your portfolio. Since almost 90% of a portfolio’s long-term returns are determined by asset allocation, this important decision should take into account the asset allocation of your investment portfolio and your pension fund. . DoRead More →
The University of Tennessee at Knoxville will implement a voluntary retirement plan for faculty. It has the potential to free up nearly $ 50 million for the university. Provost and Senior Vice Chancellor John Zomchick announced the plan on Thursday at the UT System Board’s Finance and Administration Committee. TheRead More →
I know we are all tired of COVID-19, but given the current pandemic and increasing medical costs, it is more important than ever to ensure proper planning for medical expenses in retirement. Many financial plans ignore the day-to-day costs, let alone the potential for a financially catastrophic long-term care stay.Read More →
Empower Retirement, the second largest pension provider in the country1, added about $ 100 billion2 assets under administration (AUA) and 3,000 plans to its platform during the 12-month period ending September 30, 2021. Request for proposals activity over the past year has been higher than any previous year for allRead More →
GREENWOOD VILLAGE, Colorado – (BUSINESS WIRE) – October 20, 2021– Empower Retirement, the nation’s second-largest pension plan provider 1, added approximately $ 100 billion 2 in assets under administration (AUA) and 3,000 plans to its platform during the 12-month period se ending September 30, 2021. Request for proposals activity overRead More →
Adds 925,000 new participants; assets under administration exceed $ 1,100 billion Increased emphasis on personalization for individuals; top quality customer service company GREENWOOD VILLAGE, Colorado, October 20, 2021– (COMMERCIAL THREAD) – Empower Retirement, the country’s second largest pension provider1, added about $ 100 billion2 assets under administration (AUA) and 3,000Read More →
GREENWOOD VILLAGE, Colorado – (COMMERCIAL THREAD) – Empower Retirement, the country’s second largest pension provider1, added about $ 100 billion2 assets under administration (AUA) and 3,000 plans to its platform during the 12-month period ending September 30, 2021. Request for proposals activity over the past year has been higher thanRead More →
Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but this does not affect the opinions or ratings of our editors. A defined contribution plan is a type of employer sponsored pension plan funded by contributions from employers or employees, or both.Read More →
(Photo: Shutterstock) Increased popularity of financial wellness programs, unqualified plans to attract more key talent, and managed accounts with personalized portfolios – not to mention the continued consolidation of record keeping companies – there is a lot going on right now. pension industry, said David Graver, vice president of pensionRead More →
From the annual hassle of hiring an accountant to review pension plan finances to the ever-present threat of a Department of Labor investigation, “audit” is virtually a four-letter word for plan sponsors, advisers and administrators. diet. But they don’t have to be a bad thing. In fact, performing regular “mini”Read More →
Q. I am 24 years old and just got my first full time job with benefits. I have a choice between a Roth 401 (k) and a normal 401 (k), and there is a 4% match. How do you decide how much to save and in which account? – EmployeeRead More →
While they are one of the fastest growing Demographics in the country, Hispanic workers face major challenges in allocating enough money for retirement savings compared to other groups. In the report “A closer look at the finances of Hispanic American households”, Behavioral researchers at Morningstar looked at the underlying causesRead More →
A 403 (b) is the retirement planning vehicle used by nonprofit or other tax exempt employers of nurses, doctors, teachers, professors, school staff, researchers, members of the clergy and some employees of government organizations. 403 (b) plans are named after the section of the Internal Revenue Service (IRS) code thatRead More →
(Photo: Shutterstock) The COVID pandemic has disrupted virtually everything, including the pension plan space, although in many cases for the better. Michael Ingram, Partner and Wealth Advisor at Octavia Wealth Advisors LLC in San Diego, explains how employers are adapting to the latest trends and best practices to improve theRead More →
One of the best deals is workplace pensions. Contributions to a 401 (k) plan are pre-tax, so the more you contribute, the lower your taxable income (and, therefore, how much you pay in taxes). Plus, companies often offer an employer match, which is basically free money for your retirement savingsRead More →
READING, Pa .– Reading City Council voted Monday night to make changes that impact the wages and pension plan of city employees. The council voted 6 to 1 to ratify a collective agreement with AFSCME Local 2763, which the administration identified as the city’s core employees. These employees are generallyRead More →
The HSBC Bank (UK) pension scheme in London has pledged to halve the carbon emissions of its equity and corporate bond portfolios by 2030, the spokesperson confirmed. . The £ 36bn ($ 48.8bn) pension fund will target net zero carbon emissions from its defined benefit and defined contribution portfolios byRead More →
Less than three months after Governor Jared Polis enacted Colorado’s Secure Savings Program, Treasurer Dave Young found himself in Aspen touting the benefits of the plan – on track for implementation in October 2022 – which will create an Automatic Independent Retirement Account (IRA) with an opt-out option. The program,Read More →
If you want to make the most of your old age, taking the time to prepare for retirement is a smart bet. But if these things apply to you, it might be time to revisit your plan. 1. You assume that you will only need 15 years of income orRead More →
NEW BETHLEEM – After several months of discussions and meetings, an agreement regarding extracurricular fundraising requirements has finally been reached between officials of the Redbank Valley school district and the district sports promotion organization. At their regular meeting Monday night, Redbank Valley School Board members approved the Sports Facilitator ContributionRead More →
About a year ago, the Trump administration tightened the rules that dealt with ESG investments as “suspect” in pension plans. The DOL added new language continuing to reinforce the idea that ESG blurs the line between what is acceptable and non-compliance with the fiduciary standard. However, that is about toRead More →
An interim legislative committee is considering whether the civil service pension plan should become a “defined contribution” plan. Currently, it is a “defined benefit” plan. But the current plan has an unfunded liability. And the committee will examine the possibility of requiring new recruits after January 1, 2024 to joinRead More →
On September 9, the House Ways and Means Committee approved a article of the law “ Build back better ”, the $ 3.5 trillion reconciliation bill, which would require employers to set up a self-enrollment pension plan for employees. “Our country is currently facing a retirement income crisis,” said PresidentRead More →