Representative Massie Again Proposes Exemption for Social Security Income
Social Security benefits, which have been partially taxed since 1984, would be exempt once again if the Kentucky representative’s bill passes.
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Trends Show Corporations Reducing Contributions to Pension Funds
While some companies have disclosed low intended contributions to their pension plans this year, some analysts expect a reversal in 2024.
Milliman Hires Falls to Expand Public Pension Consulting Business
Career actuarial consultant Ryan Falls has extensive experience working on major U.S. public employee retirement systems.
Retirement Industry People Moves
Voya expands workplace solutions team with Ritter, Bandani; new RIA Modern Wealth brings on two Goldman VPs; Drennan moves from parent Hightower to Fairpoint Wealth; and more.
EBSA’s Gomez Offers Glimpse of DOL’s Thinking on ESG Rule; SECURE 2.0
Also, with the end of COVID-19 as an official public health emergency, the assistant secretary of labor wants to make sure participants understand the new normal.
University of Vermont Medical Center Plan Sued for ERISA Breaches
The university medical center’s retirement plan failed to disclose revenue sharing or float income and caused workers to pay excessive fees, the complaint alleges.
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Investment Product and Service Launches
Savvy Ladies expands free financial helpline; GreenHill launches performance reporting solution; AI chatbot Mo debuts on Morningstar platforms; and more.
Vestwell, JP Morgan Announce Partnership
Vestwell will bring its digital recordkeeping platform to JP Morgan's 401(k) product for small businesses.
Swing Pricing Proposal Should Be Defunded, House Republicans Say
The chairman of the House Committee on Financial Services, Patrick McHenry, says the swing-pricing rule would hurt investors, especially because of the hard-close provision.
Pension Funded Status Improves in April Thanks to Strong Equity Performance
U.S. corporate pension plans’ funded levels improved marginally in April, and many are inching toward full funding, according to analyst firms.
Retirement, Broad Financial Fallout From COVID Continues
A defined contribution industry survey finds lasting financial effects to retirement plan participants.
Aon, Schneider Electric Agree to $200,000 Settlement
Many claims from 2020 complaint were dismissed, leaving settlement subject to final approval at a September fairness hearing.
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New Firm Seeks to Advise Plan Sponsors on How to Incorporate Annuities
The fiduciary consultant is offering consulting and education for plan sponsors and participants on integrating annuities into 401(k) plans.
TIAA Goes Outside the Firm to Fill New Role
New EVP Melissa Kivett arrives from Prudential to help TIAA increase focus on the corporate retirement market.
How Social Media Influences Plan Sponsors’ Participant Communications
The critical mission of educating younger employees about retirement investing requires different engagement tactics than in the past.
Retirement Contributions, Hardship Distributions Both Increased in Q1
Despite the markets dragging down retirement account balances, a snapshot of early-2023 activity shows workers still saving.
October Three Consulting Is Growing by Acquisition
Purchase of Retirement Learning Center expected to add educational resources and guidance for plan advisers.
2023 Pay Increases Are Largest Since 2008 Crisis, Study Shows
Mercer data showed employers fell just short of salary increase goals set in December.
SEC Accuses Fund Adviser of Violating Liquidity Requirements
Pinnacle Advisors helped a mutual fund dodge SEC liquidity requirements for at least a year, the SEC charges.
DOL Sues Shuttered Arizona Computer Company Profit-Sharing Plan
The Department of Labor alleges a closed computer equipment supplier and services company abandoned responsibility for its profit-sharing plan in the late 1990s.