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| Benefits & Administration |
| Study Quantifies How Much DB Plans Benefit the Economy |
| According to a report from the National Institute of Retirement Security, “Retirees with DB pensions know they are receiving a steady check despite economic conditions. In contrast, retirees may be reluctant to spend out of their 401(k)-type accounts if their savings are negatively impacted by market downturns.” Expenditures made out of pension benefits collectively supported 7.5 million American jobs that paid nearly $386.7 billion in labor income; $1.2 trillion in total economic output nationwide; $685.0 billion in value added (GDP); and $202.6 billion in federal, state, and local tax revenue.Read more > |
| Small Business Employees Sorely Need Retirement Plan Coverage |
| LIMRA data shows nearly four in 10 workers say they began to save for retirement because their employer offered a retirement savings plan.Read more > |
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| Compliance |
| Lawmaker Introduces Legislation to Address Multiemployer Pensions Crisis |
| The bill would establish a Pension Rehabilitation Administration (PRA)—an entirely new agency within the Department of the Treasury authorized to issue bonds in order to finance loans to certain multiemployer pension plans.Read more > |
