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While not quite the bump received after last year’s record inflation, the health savings account (HSA) limits will still receive an increase for 2025, as determined under Section 223 of the Internal Revenue Code.
The new limits were announced May 9 by the IRS in Revenue Procedure 2024-25.
The IRS...
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The settlements are lining up in a number of so-called excessive fee suits—including one at the 11th hour—all with plaintiffs represented by Capozzi Adler PC.
Mass General Brigham
Plaintiffs Mark Norton, Daska Louis, Caroline Mitchell, Nancy Barlett, and Azilda Cordahi and Defendants Mass General...
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Since issuing its first cybersecurity guidance in 2021, the Department of Labor (DOL) has laid out what it expects plan sponsors to do. Plan sponsors should now do it.
It appears that cybersecurity will be part of all DOL retirement plan audits, and clear to the agency which plans fall short.
The...
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Ann Y. Orr has been named to serve as the Acting Director of the Pension Benefit Guaranty Corporation (PBGC).
Orr has been named to fill the office that had been held by Gordon Hartogensis. His five-year term as PBGC Director ended on April 30, 2024.
Orr is not new at the PBGC. She served as...
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There’s some good news on the retirement front, as Bank of America reported in its quarterly Participant Pulse that many of the key plan indicators it tracks were trending in a positive direction.
Among other things, the report reveals that the average 401(k) account balance as of the end of March...
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ERISA consultants at the Retirement Learning Center (RLC) Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings and income plans, including nonqualified plans, stock...
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Despite ongoing high inflation, small business owners, decision makers and business leaders report strong levels of growth and high levels of optimism, which could translate into new business opportunities.
This is according to the latest Principal Financial Well-Being Index, which found that more...
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Peer-to-peer gatherings are some of the most valuable time advisors can spend pursuing professional and practice development, which is critically important to serving their clients and growing their businesses.
In July, top advisors will have the unique opportunity to join their colleagues for...
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How will the Saver’s Match contained in SECURE 2.0 affect race/gender disparities in 401(k) balances?
It’s a question tackled in the latest analysis from the Collaborative for Equitable Retirement Savings (CFERS), comprised of three high-profile retirement plan research organizations.
It found...
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A plan sponsor, charged with a fiduciary breach in its selection of a pension risk transfer (PRT) provider, is pushing back, moving to dismiss the suit.
The motion to dismiss—filed on behalf of plan fiduciaries at Lockheed Martin—notes that “plaintiffs seek a novel ruling from this Court that a...
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The annual Social Security and Medicare Trustees Reports, released on Monday, found that as in previous years, the Social Security and Medicare programs “both continue to face significant financing issues.”
While the Old-Age and Survivors Insurance (OASI) Trust Fund will be able to pay 100% of...
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Like many, perhaps most, families—mine never really talked about money or finance.
Doubtless that was in no small part because neither of those were in abundance in our household. But mostly, I suspect, it was because that was just one of “those” topics that were deemed by my parents’ generation...
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During the height of COVID, many workers quit their jobs in droves, which led to the coining of the term “The Great Resignation,” but are they now regretting it? A new survey of U.S. workers examines job satisfaction among those who left and those who stayed.
As part of a job satisfaction survey...
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What's in the episode?
Research and consulting giant Morningstar was cited over 40 times in the final fiduciary rule release, officially called the Retirement Security Rule. The reason was largely due to the data and information for which the company is known.
Aron Szapiro, Head of Government...
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The effects of the SECURE 2.0 Act cover the gamut from profound and far-reaching to the more mundane yet still important—and that includes reporting about certain retirement plans and saving arrangements.
In FS-2024-18, a fact sheet issued May 2, the IRS reminds businesses that beginning with tax...
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Ubiquity Retirement + Savings started a new era in their journey, unveiling a new logo and revamped website that are part of their larger rebranding initiative, the firm announced May 2.
Their brand name will stay the same, but they will be represented by new design components and upgraded tools...
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What common services or actions make managing a retirement plan challenging for plan advisors and their clients? What are the main points plan advisors and plan sponsors should know about plan termination? How does auto...
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Although the beneficiary designation in a 401(k) plan was old, and tied to a previous relationship, a federal court concluded that it was nonetheless valid.
The case involves the balance—some $754,006.54—accumulated by one Jeffrey Rolison in the Proctor & Gamble 401(k) from his date of...
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CalSavers, one of the first state-run programs that provides retirement plan coverage for private-sector employees whose employers do not, continues to grow—especially in assets.
As one of the longest-lived such programs, CalSavers provides a useful snapshot regarding how such plans function and...
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In a Friday afternoon news release, the Internal Revenue Service (IRS) clarified rules for distributions from retirement plans and IRAs for individuals impacted by major disasters.
The Frequently Asked Questions (FAQ) in Fact Sheet 2024-19 relate to the SECURE 2.0 Act of 2022 (SECURE 2.0)...
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Well, here we are again at the end of yet another workweek … and yet, just look at what has happened to these guys and gals…
In the Tuskegee National Forest, Alabama, Abubakar Tahiru, 29, has set a new world record…
This Interactive Map ranks every county in America from drunkest to driest...
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As expected, and with the ink barely dry on the new Retirement Security regulation, the first lawsuit challenging the rule has been filed.
It seeks to vacate the 2024 Fiduciary Rule and amendment to PTE-84-24 under the Administrative Procedures Act (“APA”) on the grounds that they are “contrary to...
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Sure, it seems obvious, but why do so many still resist?
Retirement plan advisors aren’t known for being early tech adopters; in fact, many hold on to the proverbial Excel spreadsheet for as long as they can.
Yet advisory practices that extensively incorporate technology grow faster than...
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On April 7, 2024, Nevin (Adams) & Fred (Reish) took their popular podcasting platform on the road to Nashville, Tennessee for a live version at the NAPA 401(k) Summit—in the middle of a solar eclipse!
During an expanded session, the prolific podcasting pair pointed to some takeaways...
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The climate is warming. No, not that one—the climate for annuities. Interest in them among retirement investors is rising, according to recent reports.
This actually is not a new trend, says LIMRA. They report that interest in annuities stood at 33% of those whom they surveyed in 2018 but “jumped...
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