A retiree’s investment portfolio is a large factor in determining an optimal, safe withdrawal rate in retirement, but longevity, expected spending and whether guaranteed retirement income is available plays a part as well.
“I understand that under the new proposed hardship regulations a participant will no longer be required to take all available loans from the retirement plans that we sponsor.
Reflecting on lessons learned this year, Jamie Fleckner, partner at Goodwin Procter, says cases still are growing more diverse in their claims and outcomes relative to earlier waves of retirement plan litigation.
Sponsors of small DC plans are adopting creative strategies similar to larger plans.
Michael Barry, president of October Three (O3) Plan Advisory Services LLC, discusses the multiemployer pension plan crisis, who may be to blame, and his views on writing off the multiemployer pension system.
If benefit plan participants are dissatisfied, the sponsor often has a good—and overlooked—option, experts say.
“Certain distributions from our retirement program may only be made in the event to ‘severance from employment.’
K-12 public school 403(b) plans haven’t changed as much as plans in other 403(b) market segments—mostly keeping the multiple-provider model—so they require unique recordkeeping solutions.
“Don't know if the Experts remember me, but I was the one who posed the question back in March about whether the new hardship distribution rules would allow for distribution of earnings on elective deferrals in 403(b) plans.
Sources say retirement plan sponsors will increase financial wellness efforts, and Congress is at the ready to work on significant retirement reform.
“I work with a plan sponsor at a private high school.
“Our plan is a 403(b) plan that has elective deferrals AND a mandatory employee contribution that is a condition of employment and thus is excluded from the 402(g) limit on elective deferrals.
(b)lines Ask the Experts –Limits When Contributing to Both For-Profit and Nonprofit Retirement Plans
“What are the combined limits for someone whose employer has both a nonprofit and affiliated for-profit organization, where the individual works for both and participates in retirement plans sponsored by both organizations?”
Michael Barry, president of October Three (O3) Plan Advisory Services LLC, points out that, while the candidates for the midterm elections are not spouting their views on retirement policy as part of their platforms, the results of the elections may indeed affect retirement policy.
“One of our employees, who consistently defers the maximum to both our 403(b) retirement plan and 457(b) deferred compensation plans, wants to contribute additional funds to the plan and came to me with a proposal.