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New Study Shows Increased Debt Burdens for Retirees
A new study from the Center for Retirement Research at Boston College titled "What Are the Implications of Rising Debt for Older Americans?" delves into the growing debt trend among older Americans and its potential consequences. A key concern is that more older Americans are entering retirement with more debt than they're used to, jeopardizing... Read More >>
Are Plan Sponsors Jumping on the Auto Portability Train?
This quarter sponsored by: Nuveen, a TIAA company Several years ago, Retirement Clearinghouse (RCH) created a platform for automatically rolling over plan assets from one employer to another when a participant changes jobs. In 2019 they received DOL guidance allowing participants to be automatically enrolled in the program and SECURE 2.0... Read More >>
Citibank Receives ‘Groundbreaking’ DOL Retirement Plan Advisory Opinion
Citibank received a “groundbreaking Advisory Opinion” from the Department of Labor (DOL) regarding its Diverse Asset Manager Program and the ERISA plans it sponsors. More specifically, the law firm Thompson Hine said it secured Advisory Opinion 2023-01A on Citibank’s behalf. The DOL issued the opinion on September 29, 2023. It confirms that... Read More >>
Artificial Investment Advice?
This quarter sponsored by: Nuveen, a TIAA company With the rise of Artificial Intelligence (AI) there have been questions circulating in the industry about how/if/when AI will impact retirement plans – particularly with regard to advice from financial/investment advisors. Could AI change the way investment advice is delivered to participants... Read More >>
Employees Brace for Retirement Savings Hit as Student Loan Payments Resume
After a more than three-year pause, federal student loan borrowers are gearing up to resume repayments on Oct. 1, a halt initially imposed due to the COVID-19 pandemic. The impending resumption is stirring concerns among many Americans already strained by inflation and surging interest rates. Corebridge’s survey of over 2,100 federal student loan... Read More >>
Exploring What the World is Really Craving From Professionals - WiR Third Thursdays
September Episode Description: In personal branding, we’re encouraged to be authentic and diverse but then criticized when we open up, making us wonder—what does the world really want from us? How can we express ourselves in a way that we’re comfortable with, that’s “real and true,” but not scare away our target audience? In what ways can we be... Read More >>
What Not to Do as a Plan Sponsor
Of course, laws and regulations, as well as fiduciary duty, spell responsibilties plan sponsors must fulfill. But sometimes what one does not do is as important as what one does, an industry expert reminds. It is helpful to not only know what to do but also what to avoid, argues Mark Olsen, Managing Director at PlanPILOT, in “The Top 5 Mistakes I... Read More >>
Federal Court Backs DOL in ESG Rule Suit by Red State AGs
“Having considered the motions, pleadings, and relevant law,” a federal court judge has backed the Labor Department in a suit brought by 26 red state Attorneys General challenging the so-called ESG rule. The coalition[i] that brought the suit in January 2023, alleged that the 2022 Rule “undermines key protections for retirement savings of 152... Read More >>
Persisting Gender Gap Shadows Workplace Financial Wellness Programs
Research by HerMoney Media and Principal Financial Group highlights a continuing gender gap in workplace financial wellness programs. The study finds that even though men and women save similar amounts of their incomes, significant differences exist in their confidence and understanding of money management and investing. Survey Overview The 2023... Read More >>
Plan Priorities and Pain Points
This quarter sponsored by: Nuveen, a TIAA company As we look ahead to next year, we asked plan sponsors what their plan priorities are for 2024, their expected pain points, and how PSCA can help. Though the most pressing of SECURE 2.0 provisions has been delayed for two years, bringing a collective sigh of relief from the industry,... Read More >>