The State of Alaska, until 2006, offered what was called a Defined Benefit (DB) plan for all employees in the Public Employees Retirement System (PERS). This system has created billions of dollars of debt that we will continually pay for decades to come. Even Rep. Andy Josephson, who recently wroteRead More →
Read the article By Arvind Venkatraman, CTO, Congruent Solutions The pension industry deals with a huge database on a daily basis and AI has already made a huge difference in how the ecosystem works. AI and ML have helped the space streamline all processes, protect assets, and improve customer service.Read More →
Do you find it impossible to save for retirement? You may soon have a new option. Signed by Governor Phil Murphy in 2019, legislation that will take effect in March requires employers to get the ball rolling by offering a retirement savings plan to their employees. Typically a benefit offeredRead More →
On February 18, 2022, President Biden again officially extended the national COVID-19 emergencywhich was set to expire on March 1, 2022. As explained in detail in our previous alerts1this most recent extension means that the deadlines listed below continue to be tolls for one year (or, if earlier, 60 daysRead More →
It can be difficult to plan for all the retirement variables and understand how they intertwine. Increasingly, inflation is becoming a worrying variable that people should take into account in their financial plan for retirement. Inflation, which has reached its highest level in 40 years, has always been an importantRead More →
NEWARK, NJ, February 23, 2022 – Prudential Financial, Inc. (NYSE: PRU) today announced a pension risk transfer transaction, whereby the Timber Operators Council Pension Plan (“TOCRP”) settled approximately $245 million of its pension plan obligations, for approximately 3,000 retirees, beneficiaries and deferred participants, through the purchase of a group annuityRead More →
NEWARK, New Jersey, February 23, 2022–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) today announced a pension risk transfer transaction, whereby the Timber Operators Council Pension Plan (“TOCRP”) settled approximately $245 million of obligations of its pension plan, for approximately 3,000 retirees, beneficiaries and deferred members, by purchasing a group annuity contractRead More →
NEWARK, NJ–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) today announced a pension risk transfer transaction, whereby the Timber Operators Council Pension Plan (“TOCRP”) settled approximately $245 million of obligations of its pension plan, for approximately 3,000 retirees, beneficiaries and deferred members, by purchasing a group annuity contract from the Prudential InsuranceRead More →
The reality is that unless your portfolio is large enough to make speculative investments, investing in a Bitcoin IRA may be too risky to bear. Of course, it’s up to you – but it is necessary to clearly understand that cryptocurrency has serious potential drawbacks before making an investment. UseRead More →
It’s pretty hard to ignore the cryptocurrency craze, despite the much-publicized price volatility. More than ever, people are trying to find new ways to integrate Bitcoin ( BTC 0.68% ) in their respective pension plans. Recent IRA offerings seek to meet this demand. Enter the Bitcoin IRA. The Bitcoin IRARead More →
Naming a trust as the beneficiary of your retirement plan can be a good idea in certain circumstances, but it can be dangerous if you’re worried about creditors attacking your estate. There are many good reasons to designate a trust as the beneficiary of a retirement plan, whether it’s aRead More →
vorDa / iStock.com Saving for retirement is not at the forefront of our concerns when we are just starting our careers. Oftentimes, we’re just figuring out what we want to do for work, rather than how we’re going to pay for life after that. This is probably the reason whyRead More →
(Photo credit: Piotr Swat/Shutterstock) Overview of Goldman Sachs Employee Retirement Class Action: WHO: A former Goldman Sachs employee is suing the bank, alleging it mishandled its employees’ $7.5 billion 401(k) plan. Why: The plaintiff claims the banking giant’s plan was full of underperforming company-managed investment funds. Or: The case isRead More →
The big resignation has a significant impact on a wide range of aspects of American society. There’s one effect you might not think of right away: the effect on retirement savings. With fewer people working, there are fewer people participating in employer-sponsored retirement plans such as 401(k) plans. According toRead More →
DES MOINES, Iowa–(BUSINESS WIRE)–Main financial group®, a global leader in retirement plan and investment management services, announced that it has been selected by Wellmark as its retirement and income plan provider. Principal will help Wellmark continue to provide its 1,800 employees in Iowa and South Dakota with the tools andRead More →
DES MOINES, Iowa, February 17, 2022–(BUSINESS WIRE)–Main financial group®, a global leader in retirement plan and investment management services, announced that it has been selected by Wellmark as its retirement and income plan provider. Principal will help Wellmark continue to provide its 1,800 employees in Iowa and South Dakota withRead More →
New to ClassAction.org? Read our newswire disclaimer A proposed class action lawsuit alleges that Taylor Corporation and its board of directors and trustee investment committee failed to prudently manage the company’s employee pension plan. According to the 46-page case, the defendants breached their fiduciary duties to 401(k) participants and beneficiariesRead More →
When Andrew Whitworth signed a three-year deal with the Rams in 2017, few predicted he would go on to play five more years in the elite tackle game. That’s what the Rams took away from Whitworth, as Whitworth was a key figure in the Super Bowl race as well asRead More →
Chicago, IL, February 15, 2022 –(PR.com)– Pension Advisors, LLC (RPA) is growing WalletMore, its proprietary Participant Managed Account solution, to include Advisor Managed Account (AMA) platforms. This expansion will bring personalized investment advisory solutions to even more public sector deferred compensation/defined contribution plans and their employees. RPA brings decades ofRead More →
WASHINGTON DC – Bipartisan legislation to remove a barrier preventing lifetime income products as the default investment choice in retirement plans was introduced today. The Employee Lifetime Income Act, introduced by Rep. Donald Norcross (DN.J.) and Rep. Tim Walberg (R-Mich.), would allow pension plan sponsors to use lifetime income solutionsRead More →
1 Gary P. Brinson, Brian D. Singer and Gilbert L. Beebower (1991). Determinants of Portfolio Performance II: An Update, Financial Analysts Journal, 47:3, 40-48, DOI: 10.2469/faj.v47.n3.40 2 Morgan Stanley Global Investment Committee, Elevating the Investment Process: A New Standard for Defined Contribution Plan Fiduciaries, September 2021 Disclosures Where Morgan StanleyRead More →
1 Gary P. Brinson, Brian D. Singer and Gilbert L. Beebower (1991). Determinants of Portfolio Performance II: An Update, Financial Analysts Journal, 47:3, 40-48, DOI: 10.2469/faj.v47.n3.40 2 Morgan Stanley Global Investment Committee, Elevating the Investment Process: A New Standard for Defined Contribution Plan Fiduciaries, September 2021 Disclosures Where Morgan StanleyRead More →
San Francisco, California, February 10, 2022 –(PR.com)– Verb™ presents a series of talks: “Improving your retirement plan: time to rethink it?” with Patrick Collar, Nicholas Pension Consultants Patrick Collar, principal at Nicholas Pension Consultants, will be the featured guest in the Verb™ Presents speaker series on Tuesday, February 22, 2022Read More →
Patrick Collar, principal at Nicholas Pension Consultants, will be the featured guest in the Verb™ Presents speaker series on Tuesday, February 22, 2022 at 5:30 p.m. PT. His talk (“Improving Your Pension Plan: Time for a Rethink?”) will focus on the critical issues facing small and medium-sized business owners. SanRead More →
It’s always a good idea to plan for retirement rather than dodging it. And during your planning, you might aim to land on an ideal retirement date and setting for your retirement years, whether it’s a bustling city or a quiet country home. But in addition to these things, thereRead More →
The $5-an-hour raise Alna gave firefighters last year didn’t give more members, but likely helped keep some, Fire Chief Mike Trask said Feb. 9. first time in years. And he and the board discussed a possible new incentive that Trask likened to a pension plan for firefighters. He’s asking forRead More →
TORONTO, February 8, 2022 /CNW/ – The General Synod Pension Plan (GSPP) has had the great pleasure of welcoming 1,000 members of the Anglican Church of from Canada Incorporate the Retirement Plan (LRP) into the GSPP from January 1, 2022. This pension transition is part of an innovative expansion strategyRead More →
Dean Mitchell | E+ | Getty Images Most people know nothing about the Secure Act, yet it has a big impact on their retirement planning. With little fanfare, the Secure Act (Setting Every Community Up for Retirement Enhancement Act) was signed into law on December 20, 2019. It is anRead More →
The Internal Revenue Service unit that checks benefit plans for compliance with various requirements has scored significantly lower on its quality reviews in recent years, according to a new report. the report, released Monday by the Treasury Inspector General for Tax Administration, found that between fiscal years 2018 and 2020,Read More →
What do you want to know The deadline for contributing to an IRA for a given year is the federal tax filing deadline for that year. Under the Secure Act, small business customers now have more time to establish a 401(k) plan for the previous tax year. Customers who contributeRead More →
A federal judge on Wednesday granted UnitedHealth Group workers class action status in their fight against the company’s alleged inability to manage their $7 billion retirement accounts. Judge John Tunheim of the U.S. District Court in Minnesota ruled that the employee’s complaint met federal class certification standards, saying the moreRead More →
The United States District Court for the Central District of California ruled in a lawsuit filed against Yum! Brands Inc., Taco Bell Corp. and various individual defendants. The decision technically grants defendants’ motion to dismiss plaintiffs in the first through fifth causes of action, out of nine total causes, whileRead More →
Maybe the kids moved out, or maybe the right size was part of your retirement plans all along. Either way, it’s time to sell – and if you’ve done well, you might be wondering: why do you have to adapt the size of an apartment? Here are the factors toRead More →
NASA says the International Space Station will continue to operate until 2030. Thereafter, it will be decommissioned by burning up in Earth’s atmosphere and crushing its debris in an area of the ocean called the “Spacecraft Graveyard”. “. The iconic ISS is a science laboratory positioned in low Earth orbit.Read More →
Last week, on January 24, the United States Supreme Court issued its much-anticipated decision in Hughes v. Northwestern University, unanimously ruling that pension plan trustees have a duty to continuously monitor pension plan investment options and remove any imprudent ones. In its opinion, the Supreme Court made it clear thatRead More →
Some farmers love what they do so much that they intend to do it all the way. Others would like to retire for health reasons or to have time for other interests. Some of the retired farmers will be able to live comfortably thanks to the combination of rents andRead More →