IRS says missed repayments can be addressed in the following quarter or that participants can refinance a loan, but that it will still be due on the original due date.
Tag: defined contribution plans
According to the GAO report, the three pillars of the current retirement system in the United States are anticipated to be unable to ensure adequate benefits for a growing number of Americans due, in part, to the financial risks associated with certain federal programs.
Not only does the lawsuit claim ConocoPhillips stock does not meet ERISA’s definition of “employer securities,” but it says participants suffered millions of dollars in losses as the stock price dropped dramatically.
“As we are preparing to finalize our 2016 Form 5500s in time for the extended deadline, a colleague of mine has stated that there are some questions on the form that it would appear that we should answer, but that the Internal Revenue Service (IRS) has actually suggested we skip. That sounds bizarre to me; is that possible?”
The Fed's analysis concludes that 401(k) plans “could work much better and balances would be higher if all plans were fully automatic.”
Specific policy changes and plan sponsor initiatives can make guaranteed lifetime income a norm in the DC plan space, TIAA suggests.
Single people are saving less and more worried about being secure in retirement than their married counterparts, a survey finds.