By Rachel Stone (September 30, 2021, 7:31 p.m. EDT) – An Illinois federal court has ruled that Allstate Corp. was facing an ERISA lawsuit brought by a group of current and former workers who claim the insurer cost them nearly $ 70 million by keeping underperforming funds in their profit-sharingRead More →
Receive instant alerts for news on your actions. Claim your 1-week free trial for StreetInsider Premium here. WESTLAKE, TX – (BUSINESS WIRE) – Schwab Retirement Plan Services, Inc. was ranked the highest for overall satisfaction in the JD Power 2021 US Retirement Plan Digital Satisfaction Study. Charles Schwab’s Also rankedRead More →
WESTLAKE, TX – (BUSINESS WIRE) – Sep 30, 2021– Schwab Retirement Plan Services, Inc. was ranked highest for overall satisfaction in the 2021 US JD Power Retirement Plan Digital Satisfaction Study. Charles Schwab also ranked # 1 in the Large segment. plans in the JD Power 2020 (equality) and 2019Read More →
The Roth IRA was designed over two decades ago as a way for working middle class workers to put money aside for retirement. People earning less than $ 95,000 at the time could spend the money and then let it grow tax-free until retirement, when they could make withdrawals withoutRead More →
Realogy Holdings Corp. and The Platinum 401k, Inc., a pension outsourcing resource, recently announced the establishment of the SPARK Members Pooled 401 (k) pension plan. Available exclusively to all United States real estate agents affiliated with Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Corcoran®, ERA® and Sotheby’sRead More →
Automatic portability – a retirement plan solution designed to simplify low-balance 401 (k) rollovers – may soon be more widely available. Avant-garde recently announced a partnership with Retirement Clearinghouse LLC (RCH) to bring to market an automatic portability service for pension plan sponsors, committees and members. The objective is toRead More →
New Common 401 (k) Retirement Plan Now Available for U.S. Real Estate Agents Registered with SPARK Association of Real Estate Professionals MADISON, New Jersey, September 28, 2021 / PRNewswire / – Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in United States, and Platinum 401k,Read More →
Which retirement plan is right for your business? If you are a small business owner, there are many pension plan alternatives to help you and your eligible employees save for retirement. For most private business owners, a Simplified Individual Retirement Account for Employees (SEP IRA) was once the most costRead More →
When a 401 (k) defined contribution plan or similar does not apply the correct definition of compensation in the determination of benefits, does not correctly calculate the vesting service or does not make distributions to the participants who are to obtain the minimum distributions required, who is responsible? Plan sponsorsRead More →
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Is An IRA In The Future For Most Workers? getty Readers, I am embarrassed to admit that a radical change in our pension system, included in the “Build back better” budget reconciliation bill, had completely escaped me until very recently. As explained by Ashlea Ebeling, also at Forbes, “Under Proposal,Read More →
Congratulations, you have reached your golden age! Or maybe they’re just on the horizon. Either way, the end of the work age marks a critical time for reviewing finances and understanding how to make sure your money is working the best for you. This process includes reviewing your investments, homeRead More →
Insurance agents Robert Andrew Lotter and Charles Albert Major have been charged with multiple counts of securities fraud offenses with aggravated white collar abuse and financial abuse of seniors after allegedly defrauding employees of the California school system with high-risk investments. According to an announcement by the California Department ofRead More →
Uber Technologies Inc., San Francisco, is launching a defined contribution scheme for its UK drivers on Friday following a UK Supreme Court ruling that drivers should be considered workers, not self-employed workers. Under the ruling in March, Uber drivers can still choose when to work as well as earn wagesRead More →
By Jared Tanimoto, CFP Why not like investing in a sustainable ESG fund in your 401 (k) defined contribution pension plan or similar? The answer is not as obvious as you might think. Jared tanimoto The idea is attractive: while saving tax-advantaged for your own retirement, why not also makeRead More →
The IRS recently updated its “Employee Plan Compliance Resolution System” (EPCRS). For your information, the EPCRS is a correction program administered by the IRS for plan sponsors to correct certain errors in pension plans. The EPCRS has three different components: the self-correction program, the voluntary correction program and the auditRead More →
Tuesday, September 21, 2021 The IRS recently updated its “Employee Plan Compliance Resolution System” (EPCRS). For your information, the EPCRS is a correction program administered by the IRS for plan sponsors to correct certain errors in pension plans. The EPCRS has three different components: the self-correction program, the voluntary correctionRead More →
The Biden administration has pulled out of work on new rules that would allow employer pension plans to contribute to retirement savings plans based on their workers’ student loan payments. “It kind of fell into the immediate category of ‘we’re working hard’,” William Evans, legal adviser in the Treasury Department’sRead More →
Hughes v. Northwestern Univ. n ° 19-1401,953 F.3d 980 (7th Cir. 2020),cert. allowed, 2021 WL 2742780 (US July 2, 2021) Oral argument scheduled for December 6, 2021. Problem: Are allegations that a defined contribution pension plan paid or charged its members a fee that significantly exceeded the fee for theRead More →
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The company and law firm names listed above are generated automatically based on the text of the article. We are improving this functionality as we continue to test and develop in beta. We appreciate comments, which you can provide using the comments tab on the right of the page. SeptemberRead More →
Qualified employees would be automatically enrolled in the plans – with target date funds as the default option – at a 6% contribution rate that would be increased – unless members opt out – by 1 percentage point each year until it reaches 10%. For IRAs, the Internal Revenue ServiceRead More →
The individual audit requirements in the recently proposed federal regulations on the filing of consolidated group retirement plans cast doubt on whether workplace plans are joining forces. Benefits lawyers and pension plan sponsors who hoped the 2019 legislation allowing groups of similar plans to file single, consolidated government disclosures wouldRead More →
Nowadays, almost everything – and everyone – is online, including pension plan members. Members can use their plan’s websites or online portal to do just about anything – enroll (or opt out), make or change contribution choices, select or change investment options, request distributions, etc. It is not surprising thatRead More →
United States: On the Horizon – New Pension Design Opportunities! Meet: “Securing A Strong Retirement Act Of 2021”, Aka “SECURE 2.0” September 13, 2021 Bryan Cave Leighton Paisner LLP To print this article, simply register or connect to Mondaq.com. Important legislation is being drafted in the House that promises toRead More →
Mandel Ngan | AFP | Getty Images House Democrats on Monday proposed a series of changes to the retirement accounts of the wealthy, as part of a tax code restructuring tied to a $ 3.5 trillion budget plan. Taken together, the Democrats’ reforms aim to erode the use of retirementRead More →
SEP IRA: It’s a structure very similar to Solo 401 (k) s with two main exceptions. The costs are minimal as it does not require the support of a plan administrator and it can cover the employees. In this plan, all contributions are made by the employer for a maximumRead More →
As you approach retirement, you’ve reviewed your numbers and you may be feeling good about what you see. You have a complete plan. The one that takes taxes into account. Protects you from market risk and provides you with a strategic form of income to meet your ongoing monthly expenses.Read More →
What would you like to know Respondents from a single vendor reported time savings of 17% to 50%, according to Principal Financial Group. Three-quarters of plan sponsors with multiple providers said they would save time using only one provider. Seventy-three percent of sponsors with an accountant said employees were engagedRead More →
Many people dream of retiring with a million dollars or more under their belt. Now the reality is, you don’t really have to focus on a million dollar nest egg. You may be able to do very well in retirement with less savings, or you may need a lot more.Read More →
vitapix | E + | Getty Images Tax breaks for retirement plans, such as 401 (k) plans and individual retirement accounts, can reward workers for saving more money, but these write-offs can also widen the racial wealth gap. It is according to a new analysis from the Tax Policy CenterRead More →
Behavioral boost passes real-world test with 6,000 workers Deploying deferred gratification for the benefit of our future selves is not man’s natural default mode. Yet we have a retirement system based on workers who must choose to do just that. Traditional pensions have all but disappeared for private sector workers,Read More →