Monthly Archives: September 2023

State automatic retirement programs have finally accumulated more than $1 billion in assets, according to data collected by the Center for Retirement Initiatives at Georgetown University. That is a significant step, but not a huge sum when you figure 19 … Continue reading →

Not enough plan sponsors and plan providers talk about cyberattacks and they should. The massive MOVEit cyberattack breached the personal data of millions of participants in public pension and private-sector workplace retirement plans. The cyber attack by the Russian ransomware … Continue reading →

Stealing a line from Chris Rock, I once joked while working at a third-party administrator (TPA) that if you wanted to hide something from one of our inexperienced plan administrators, you should hide it in the plan document file. So … Continue reading →

The fact is that sometimes, bad things happen to good people. That can be said about retirement plans and the good plan sponsors and providers who do their job. No matter how great a job they do, the threat of … Continue reading →

Over the past few years, more and more workers have become gig workers. In reality, they are just sole proprietors, that make a living, project to project. Their retirement savings usually revolve around SEPs, SIMPLE-IRAs, and Solo 401(k)s. I once … Continue reading →

January 1, 2024, will be 3 years of Pooled Employer Plans (PEPs). While new PEPs have been launched with lots of fanfare, I’m sure there are a few dozen PEPs that have quietly closed their doors. Unless you’re a national … Continue reading →

Congressional Democrats have reintroduced bills in the Senate and House \o require spousal consent for 401(k) distributions. The reason for a change is that since 401(k) plans are quite often a couple’s largest financial asset next to their house, spousal … Continue reading →

The plaintiff suing American Airlines for adding an ESG fund to the 401(k) plan has dropped the case to 2 defendants. Plaintiff Bryan Spence dropped two defendants to the lawsuit that was initially filed against American Airlines, the employee benefits … Continue reading →

73% of 401(k) savers would like personalized investment advice for their retirement savings, according to annual survey from Charles Schwab Corp.. Among the 401(k) plan participants surveyed by Schwab, almost half (49%) said they were very confident in investment decisions … Continue reading →

The last real estate closing. I ever did the purchase of my home because of the unprofessionalism of the seller’s counsel. It soured on my closings and the real estate agent, who said nothing when she referred that attorney, to … Continue reading →