Federal agencies are looking at how many and how often workers receive retirement disclosures, as well as their effectiveness. The Department of Labor announced that the Employee Benefits…
Read MoreRetirement Plans
Administration Updates Rules on Junk Fees in Retirement Planning
SEC regulation will close loopholes allowing advisors to recommend products that do not offer benefits. President Joe Biden and administration officials have announced tightened rules to clamp down…
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SEC Chair Warns of AI Threat to Financial Systems
Investment advisors should not overly rely upon artificial intelligence for financial data interpretations. Securities and Exchange Commission (SEC) Chairman Gary Gensler recently warned of the current risks artificial…
Read MoreSuit Filed to Block ESG Investing Rule
25 state attorneys general filed to stop progressive governance over retirement plans. Utah and Texas led a court filing signed by 25 states, requesting that a federal judge…
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President Vetoes Bill on ESG Investing
The legislation would have reversed the Labor Department rule. “I just vetoed my first bill,” President Biden announced Monday. The Labor Department had previously issued a rule allowing…
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Labor Department Finalizes Secure Act Implementation
Assistant secretary for benefits announces changes to 5500 Annual Return Form. The Department of Labor announced changes to the 2023 Form 5500 Annual Return/Report of Employee Benefit Plan.…
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Social Security Could Get Age Benefit Changes
The solvency of the program is at the heart of discussions. Changing the age requirement for receiving Social Security benefits is under consideration by a bipartisan group of…
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Withdrawals From Retirement Plans Increase
Americans are taking “hardship” withdrawals from 40(k) plans. The Internal Revenue Service allows hardship withdrawal from retirement funds without penalty when there is an immediate or heavy financial…
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President Announces Aid for Union Pension Plans
Funds coming from the American Rescue Plan coronavirus relief package. This week President Joe Biden announced an award for federal financial support from the American Rescue Plan’s Special…
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Average 401(k) Down $34,000 This Year
Americans have experienced more than $2 trillion in losses. New economic research has found that the average person’s 401(k) has lost some $34,000 in value since the beginning…
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