In July 2019, the Auditing Standards advice of the American Institute of Certified Public Accountants (AICPA) has issued a revised statement on Auditing Standards No. 136 titled “Opinion and Report on the Financial Statements of Employee Benefit Plans Submitted to ERISA”. Originally slated to come into effect for tax periodsRead More →
In July 2019, the Auditing Standards advice of the American Institute of Certified Public Accountants (AICPA) has issued a revised statement on Auditing Standards No. 136 titled “Opinion and Report on the Financial Statements of Employee Benefit Plans Submitted to ERISA”. Originally slated to come into effect for tax periodsRead More →
Retiring on social security alone is a pretty big mistake. The average monthly benefit today is $ 1,657 (this represents the 5.9% cost-of-living adjustment for 2022). All in all, it’s just under $ 20,000 a year. Even if you’re willing to live sparingly as a senior, you might need aRead More →
Is it time to update the beneficiaries on your accounts? Almost any type of financial account allows you to designate a beneficiary “payable on death” (POD). Sometimes it is referred to as a “transfer on death” (TOD) beneficiary. If you have individual retirement accounts (IRA), retirement plans like a 401Read More →
In July 2019, the Auditing Standards advice of the American Institute of Certified Public Accountants (AICPA) has issued a revised statement on Auditing Standards No. 136 titled “Opinion and Report on the Financial Statements of Employee Benefit Plans Submitted to ERISA”. Originally slated to come into effect for tax periodsRead More →
The most common mistake people make when planning for retirement is to assume that the way the wealth was created is the same as they should hold the wealth in retirement, with the added benefit of being more conservative. Popular belief suggests that as you get older, the level ofRead More →
HDFC Life recently unveiled its new policy, the HDFC Life Systematic Retirement Plan, to help investors manage their annual inflation-adjusted cost of living after retirement. It is an unrelated and non-participating individual / group deferred savings annuity plan that allows you to systematically build up your retirement savings while offeringRead More →
(Kailey Hagen) One of the keys to successful retirement planning is substantial savings. Setting aside a certain amount of money each pay period or month helps you develop a strong saving habit, and the earlier you start, the more time your funds have to accumulate income to supplement your personalRead More →
One of the keys to successful retirement planning is substantial savings. Setting aside a certain amount of money each pay period or month helps you develop a strong saving habit, and the earlier you start, the more time your funds have to accumulate income to supplement your personal contributions. IfRead More →
This article has already been published on May 15, 2021. When it comes to retirement planning, there are a few things you can safely put in the “settled business” pile. In this age of ultra-low returns, for example, it stands to reason that most retirees will need to have aRead More →
The Select editorial team works independently to review financial products and write articles that our readers will find useful. We may receive a commission when you click on product links from our affiliate partners. You’ve probably heard of The great resignation with an increase in the number of people leavingRead More →
Eligibility Required You should review the eligibility criteria of the plan which are as follows before purchasing it. Details Minimum Maximum Entry age 45 years old 75 years Annuity payment (in Rs) Per installment Annual: 12,000; Semi-annual: 6,000; Quarterly: 3,000; Monthly: 1,000 Without limits. Acceptance of any case is subjectRead More →
By Steve Cruice, CPA You read the headlines everyday like me, the headlines about what the markets might do. Will they get up? Will they crash? Will we have another decade lost? Headlines about inflation, tax changes, US debt, global supply chain shortages, rising energy prices, and stories about theRead More →
December 16, 2021 | 15:00 Scott LaMar Scott LaMar has worked in radio and television for over four decades. Currently, LaMar is the host and executive producer of the daily news and public affairs program Smart Talk on WITF-FM, 89.5 and 93.3 in Harrisburg, PA. Previously, LaMar was the SeniorRead More →
Henderson Park The transactions for the acquisition of Silverburn, a 100,000 m2 flagship shopping center in Glasgow, England, were exchanged as part of a joint venture as part of an off-market transaction. Hammerson And that Canada Pension Plan Investment Board For 140 million. See Who is Greherald. The acquisition wasRead More →
The plan offers individuals the ability to systematically save for a retirement corpus over a period of time and then receive guaranteed income for life. HDFC Life has launched HDFC Life Systematic Retirement Plan – an individual, group, non-participating, untied deferred savings annuity plan that will allow policyholders to saveRead More →
HDFC Life has launched the “HDFC Life Systematic Retirement Plan” – an individual, group, non-participating, untied and savings deferred annuity plan that systematically allows you to save for your retirement years. Why HDFC launched this plan HDFC Life said in its statement: “With increasing life expectancy and inflation in India,Read More →
Investing in real estate is one of the many ways to set aside funds for retirement. If you are looking to diversify your savings, you might consider including real estate in your retirement plan. Real estate investments have their pros and cons, as well as different options to consider. IncludingRead More →
The Standardbred Owners Association of New York (SOANY) is pleased to announce that its Board of Directors, chaired by SOANY Senior Vice President Peter Venaglia and SOANY’s other directors (Irv Atherton, Tom Ceraso, Joseph Faraldo, Raymond Schnittker, Jordan Stratton, Chris Wittstruck and Peter Younger) awarded more than $ 2.7 millionRead More →
As 2021 draws to a close, pension plan sponsors must confirm that their plan documents are amended by December 31, 2021, in order to comply with certain plan changes: Distribution of difficulties. The 401 (k) and 403 (b) plans must be modified, if necessary, to comply with the final ruleRead More →
A pension plan member sued Transamerica Retirement Solutions, alleging that it failed to exercise due diligence to secure and protect the Personally Identifiable Information (PII) of its clients, including names , addresses, social security numbers and amounts of contributions to the pension fund. The proposed class action lawsuit was filedRead More →
There are several retirement plans, also called retirement plans, in which individuals can invest. The main objective behind these plans is to ensure a steady flow of income after retirement. Rapidly changing social realities and the rising cost of living have made retirement planning a must for everyone. Whereas inRead More →
Retirement accounts are a crucial source of income for seniors. Social Security alone provides enough money to replace just 40% of pre-retirement income – which will not cover necessities. But are Americans on track to generate enough income in their later years? Let’s take a look at the combined averageRead More →
On December 6, the United States Supreme Court heard oral arguments in the case Hughes v. Northwestern University. The issue at issue is whether the allegations that a defined contribution pension plan paid fees that significantly exceed the fees for other available investment products or services are sufficient to raiseRead More →
Few would say saving for retirement is a snap, but it has been even more difficult than usual over the past two years. Many Americans had to stop their pension contributions when they were out of work, and some even drew on their savings early. It is a recipe forRead More →
5. Make regular contributions Once you have a plan in place and know where you want to put your money, all you need to do is start contributing. It is best to automate this process if you are able to do so. This will reduce the risk that you forgetRead More →
A regulatory effort under the radar could encourage investors to change the way they assess the risk of investments by private sector employee benefit plans governed by the Employees Retirement Income Security Act of 1974. In January, President Joe Biden issued a decree directing departments and executive agencies to reviewRead More →
On Monday, the Supreme Court heard oral arguments at Hughes v. Northwestern University, No. 19-1401, one of some 150 similar class actions filed across the country in recent years. The case was brought by pension plan members alleging that the plan trustees breached their obligations under ERISA with respect toRead More →
Pandemics, political and political changes, volatile investment markets — another year under the belt. WealthManagement.com asked several pension industry leaders for their thoughts on the most important developments of the past year for plan advisors. Wealth Management: What do you think are the main developments that have affected the workRead More →
This year, according to Institute of Investment Companies. These include employer-sponsored retirement plans (both defined benefit and defined contribution plans), individual retirement accounts (IRAs), and annuities. Contributor Depositphotos.com/Depositphotos.com – MarketBeat That’s a lot of money. But do these numbers reflect the amount you have saved? Do you have your ducksRead More →
Good news for your retirement benefits. We wanted to share some fabulous news: after more than a decade of work, as of July 1, 2021, we have secured our retirement plans and their future funding is stronger than it has been for a very long time. What is a retirementRead More →
A federal judge on Thursday dismissed UnitedHealth Group’s petition to dismiss a lawsuit alleging the healthcare giant failed to effectively oversee the management of its pension plan for its 200,000 employees and their families. Minnesota U.S. District Court Judge John Tunheim ruled that a plan member’s claims were strong enoughRead More →
A federal judge on Thursday dismissed UnitedHealth Group’s petition to dismiss a lawsuit alleging the healthcare giant failed to effectively oversee the management of its pension plan for its 200,000 employees and their families. Minnesota U.S. District Court Judge John Tunheim ruled that a plan member’s claims were strong enoughRead More →
CASE OVERVIEW By Ronald Mann December 3, 2021 at 4:26 p.m. Monday’s argument in Hughes v. Northwestern University will give judges another opportunity to explain the fiduciary duty of the sponsors who control the defined contribution plans that many of us depend on for our retirement. This case is beingRead More →
WakeMed employees have sought final approval of their $ 975,000 group settlement from a federal judge in a lawsuit claiming the North Carolina healthcare system pension plan offers expensive mutual funds and charges fees excessive administrative procedures. The deal, which received preliminary approval from Judge James C. Dever III inRead More →
WakeMed employees have sought final approval of their $ 975,000 group settlement from a federal judge in a lawsuit claiming the North Carolina healthcare system pension plan offers expensive mutual funds and charges fees excessive administrative procedures. The deal, which received preliminary approval from Judge James C. Dever III inRead More →
As the end of the year approaches, now is a good time to review the updated rules regarding withdrawals from your pension plans. The SECURE law, which entered into force in 2020, made changes to the rules for minimum distribution required (RMD). It is important for us to review theseRead More →
As the end of the year approaches, now is a good time to review the updated rules regarding withdrawals from your pension plans. The SECURE law, which entered into force in 2020, made changes to the rules for minimum distribution required (RMD). It is important for us to review theseRead More →
The University of Miami is settling a lawsuit over costs of its defined contribution pension plans for $ 1.85 million, according to court documents filed last week. The school was sued in April 2020 in the Miami Division of the United States District Court for the Southern District of Florida,Read More →
NEW YORK – (BUSINESS WIRE) – December 1, 2021– Bartholomew Consolidated School Corporation in Columbus, Ind. selected Fair, a leading financial services organization and primary franchise of Equitable Investments Inc. (NYSE: EQH ), as the sole provider of its 403 (b) and 401 (a) supplemental pension plans after a competitiveRead More →
NEW YORK – (BUSINESS WIRE) – December 1, 2021– Bartholomew Consolidated School Corporation in Columbus, Ind. selected Fair, a leading financial services organization and primary franchise of Equitable Investments Inc. (NYSE: EQH ), as the sole provider of its 403 (b) and 401 (a) supplemental pension plans after a competitiveRead More →
NEW YORK, December 01, 2021– (COMMERCIAL THREAD) – Bartholomew Consolidated School Corporation in Columbus, Ind. selected Fair, a leading financial services organization and primary franchise of Equitable Investments Inc. (NYSE: EQH), as the sole provider of its 403 (b) and 401 (a) supplemental pension plans after a competitive bidding process.Read More →
NEW YORK – (BUSINESS WIRE) – December 1, 2021– Bartholomew Consolidated School Corporation in Columbus, Ind. selected Fair, a leading financial services organization and primary franchise of Equitable Investments Inc. (NYSE: EQH ), as the sole provider of its 403 (b) and 401 (a) supplemental pension plans after a competitiveRead More →