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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House Bill Supports 401(k) Plans
Legislation raises contribution limits for older workers. Under a bipartisan bill passed in the House, Americans could invest more in their 401(k) plans and sit on those nest…
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Unemployment Claims Drop by 36,000
New unemployment applications at the lowest level since the start of the pandemic. The Department of Labor released its report on Americans applying for unemployment insurance on Thursday.…
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House Introduces Retirement Savings Incentives
Bill would expand retirement savings options. Big changes could be coming to 401(k), IRA, and other retirement plans under a bipartisan program introduced this week in the House.…
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