As the 2024 election approaches, market volatility is expected to rise due to uncertainty around potential policy changes. Short-term fluctuations in the stock and bond markets could lead retirement plan participants to pause savings or shift to more conservative...
Retirement expectations vary across generations, shaped by unique experiences and economic conditions: Baby Boomers (1946–1964): View retirement as a reward after hard work, often seeking financial security and leisure, with some benefiting from company pensions....
A new bipartisan bill, the Helping Young Americans Save for Retirement Act (H.R. 9281), was introduced in the House of Representatives on August 2, 2024. Sponsored by Rep. Brittany Pettersen (D-CO) and Rep. Tim Walberg (R-MI), this legislation aims to lower the...
ERISA Turns 50: Fifty years ago, President Gerald Ford signed the Employment Retirement Income Security Act (ERISA) into law, setting standards for retirement plans.* Financial Regrets: A staggering 77% of Americans have financial regrets, with the most common being...
The SECURE 2.0 Act of 2022 introduces several provisions designed to boost retirement savings. SECURE 2.0 modifies the original RMD and LTPT provisions while introducing new rules. Here are some notable changes taking effect in 2025: Automatic Enrollment...
(Read time 0:53) Welcome to the latest edition of Tax Talk. In this issue, we highlight upcoming crucial compliance deadlines and also provide a quick reminder for plan participants. (Dates below are for calendar year plans and companies.) Upcoming Deadlines January...
Millennials were the largest generation group in the U.S. in 2022, with an estimated population of 72.24 million. Born between 1981 and 1996, millennials recently surpassed baby boomers as the biggest group, and they will continue to be a major part of the population...
The Department of Labor (DOL) has proposed a new rule to enhance protection and transparency for financial advice within retirement plans. The Retirement Security Rule: Definition of and Investment Advice Fiduciary was drafted to update the definition of investment...
(Read time 1:49) In this edition of Tax Talk, we provide updates on critical compliance deadlines for defined contribution (DC) plans. The schedule provided below assumes your plan operates on a calendar year basis. December 1st, 2023 Various annual notices must be...
Online Retirement Planning Resources. Below are several valuable websites that may be beneficial for plan sponsors and retirement plan professionals: Employee Benefits Security Administration (EBSA) - https://www.dol.gov/agencies/ebsa Internal Revenue Service (IRS) -...