Pension Rights Center Calls myRAs “A First Step” Leading to Comprehensive Solutions to the Retirement Crisis
WASHINGTON – The Pension Rights Center lauded the Obama administration today for recognizing the severity of the retirement income crisis by proposing a new Treasury bond to promote savings, particularly for low- and moderate-wage earners. “While myRAs are only ‘starter’ savings plans, they are an important first step in offering an easy, secure place where […]
Obama’s MyRA Gets Early Go Ahead
President Barack Obama is moving quickly to make good on his pledge to create a new “starter” savings program for workers without a retirement plan on the job.
Fiduciary Rules, Lifetime Income Illustrations, Disclosures Top Practitioners’ DOL Concerns
The Department of Labor’s re-proposed fiduciary rule is likely to stir up a great deal of practitioner interest in 2014, along with the department’s projects on disclosures and lifetime income illustrations, practitioners told Bloomberg BNA.
Multiemployer Plans in the Spotlight, But Congress May Broaden Retirement Focus
The sunset of Pension Protection Act multiemployer plan provisions at the end of 2014 could provide Congress and others with the impetus to finds ways to change the U.S. retirement system.
House Democrats Seek Dialogue With DOL On Conflict-of-Interest Rule Re-Proposal
Thirty House Democrats have requested to have a “dialogue” with Secretary of Labor Thomas E. Perez about the agency’s re-proposal of the rules expanding the definition of fiduciary before the rules are submitted to the Office of Management and Budget.
Plan Sponsor De-Risking Likely to Continue Even With Higher Funding, Practitioners Say
The recent upswing in defined benefit plan funding levels might encourage plan sponsors to take some major steps to de-risk their plans.
Should I take my pension’s lump sum offer?
I have not started collecting my pension yet. I do not know whether to take a lump sum or take monthly checks from my 25 years of service with a well-known company. What are the risks?
PRC comments to OMB on terminating pension plans (January 21, 2014)
The Pension Rights Center submitted comments to the Office of Management and Budget, supporting the Pension Benefit Guaranty Corporation’s request that terminating single employer plans be required to include sample copies of the required notices that they sent to participants.
PRC comments to the IRS on the Form 8955-SSA (January 21, 2014)
The Pension Rights Center submitted comments to the IRS, supporting its request to continue collecting information on Form 8955-SSA.
How to Monitor Your Pension’s Health
You paid into a pension system. It will pay out for you … right? Maybe. As illustrated by Detroit’s municipal bankruptcy and the threatened implosion of its pension plans, not to mention routine corporate bankruptcies, pensions can’t be taken for granted.
Timing of Fiduciary Rule for Retirement Plans Questioned
If you have a 401(k) or other retirement plan, you may be waiting even longer before new government standards are imposed that require your financial adviser to act in your best interest.
House Democrats urge caution on DOL fiduciary-duty rule
A group of 30 House Democrats has warned Labor Secretary Thomas Perez that a pending rule that would raise investment advice standards for retirement-plan advisers could hurt investors with modest assets.
