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Make Retirement Plans Great Again?

12/11/2018
By Jack Towarnicky

In a recent article which suggests America would be great again if it adopted a number of economic and employment policies prevalent in the 1960’s1, Alan Blinder states that: “Back in the 1950s and 60s, many workers had traditional defined-benefit pension plans (DB plans). Read More >>


I’m Dreaming of a … Well Funded Pension

12/06/2018
By Jack Towarnicky

(With apologies to Irving Berlin, Bing Crosby, and Billy Mack1.)

Ten years before the Studebaker bankruptcy, Irving Berlin wrote and Bing Crosby sang the title song in the movie White Christmas. As we approach this holiday season, I’m almost thinking we need a Billy Mack version to marry new lyrics to that famous tune – dreaming of a well-funded pension. Read More >>


Retirement Investing At The Summit – Investing When Equity Markets Are At All Time Highs

11/30/2018
By Jack Towarnicky

Wow! Recently, it was my privilege to experience a presentation by Grady M. Smith, CFA, Vice President & Senior Portfolio Manager, Dimensional.

The combination of 2018 stock market highs and recent stock market volatility has workers/retirement investors asking questions. Particularly, what should I be doing now? Grady was well prepared to educate this ignorant investor. Read More >>


Cold Turkey Withdrawal

11/26/2018
By Jack Towarnicky

Just in time for Thanksgiving, on November 14, 2018, the Internal Revenue Service published a notice of proposed rulemaking regarding Bipartisan Budget Act of 2018 changes that liberalized hardship withdrawals – changes that will increase leakage.1  This guidance came out exactly one week after the Department of Labor’s request for comments regarding “auto portability” – changes designed to reduce leakage. Read More >>


A ‘Retirement Ready’ Thanksgiving List

11/19/2018
By Nevin Adams

Thanksgiving has been called a “uniquely American” holiday, and though that is perhaps something of an overstatement, it is unquestionably a special holiday, and one on which it seems appropriate to reflect on all for which we should be thankful.  And so…  

I’m thankful that participants, by and large, continue to hang in there with their commitment to retirement savings, despite lingering economic uncertainty and competing financial priorities, such as rising health care costs and college debt. Read More >>


Pension Promises Without Funding Are Mere Dreams

11/12/2018
By Jack Towarnicky

First things first: Congress should begin by addressing the significant underfunding of Social Security and Medicare. States and local governments should be focused on public employee pensions. Similarly, Congress also should resolve the funding challenge of Multiemployer Pension Plans without increasing taxes or negatively impacting single-employer pension plans. Read More >>


Impediments to Saving for Retirement – Part 2 - The Solution? The Right Kind of Liquidity

11/09/2018
By Jack Towarnicky

What’s the best solution where saving for retirement is not a priority? Meet workers where they are with the right kind of liquidity! Don’t agree? Well, what about the next best solution? You guessed it: help workers avoid the wrong kind of liquidity!

No recent headline includes more hyperbole than the news reporting from Deloitte and its guesstimates of “leakage” from plan loans. Read More >>


The Birth of a Notion

11/06/2018
By Nevin Adams

“Unintended consequences” are generally a bad thing.  But not always.  The 401(k), for example.

Today is being celebrated as the birthday of the 401(k) – because it’s the anniversary of the day on which the Revenue Act of 1978 – which included a provision that became Internal Revenue Code (IRC) Sec. Read More >>


Impediments to Saving for Retirement – The Barriers, Part 1

11/05/2018
By Jack Towarnicky

Today’s typical histrionic, hyperbolic headline: “Retirement Crisis: Workers Can’t Afford to Save For Retirement Due to Crippling Out of Pocket Medical Expenses and Crushing Student Debt!”1 The accurate rewrite: “Saving For Retirement is Doable – Almost All Workers Have Low, Budget-able Out-of-Pocket Medical Expenses, and Student Debts. Read More >>


Few Read Mandatory Benefit Disclosures; Even Fewer Take Action (Reprise)

10/29/2018
By Jack Towarnicky

Congress has proposed that participants should pay more fees to receive yet another mandated disclosure – this time, a lifetime income estimate that participants didn’t ask for, that will almost always be inaccurate, that doesn’t apply to all retirement savings, that few will notice, even fewer will read, less still will understand, and that almost no one will correctly apply in retirement savings decision-making. Read More >>


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