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Momentum Builds for Auto-IRAs

Momentum for government-facilitated automatic Individual Retirement Account (auto-IRA) savings programs appears to be growing – and, in our opinion, that is a very good thing. The programs are aimed at private sector workers without access to an employer-sponsored retirement plan to instead have access to…

The “Definitive” List of Best States to Retire In

Many retirees seek to relocate after their careers are over, for a variety of reasons: Wanting to downsize, to live in a community of like-minded (and similarly aged) people, or moving closer to (or, in some instances, further away from) family and friends. But, assuming…

Auto-Portability: A Way to Address 401(k) Leakage

To paraphrase the late R&B great Edwin Starr: Leakage – what is it good for? Absolutely nothing! But leakage doesn’t just refer to water pipes in need of repair. The term can also be applied to 401(k) plans; namely, money left behind in an old…

Adding More Certainty to SECURE

There has been a flurry of recent activity surrounding the Setting Every Community Up for Retirement Enhancement (SECURE) Act as we near its first anniversary. Signed into law on December 20, 2019, the SECURE Act has been the subject of various federal government-issued explanations and

Thinking of Rolling an Old 401(k) Balance to an IRA? Not so Fast!

“Save early, save often” is our much-repeated mantra when it comes to constructing a sound retirement savings strategy. Prudent employees maximize their contributions to their company’s 401(k) plan, especially when it comes to taking full advantage of their employer’s matching funds. But what to do…

The SSRA: What’s Not to Like?

There is a lot to like about the Securing a Strong Retirement Act (SSRA) of 2020. Given that there are 36 items in it, that’s saying a lot. Introduced on October 27, 2020 by House Ways and Means Committee Chairman Richard E. Neal (D-MA) and

FIRE-d Up?

A recent article in the New York Times bore the eye-catching title “How to Retire in Your 30s with $1 Million in the Bank.” While that seemingly unlikely premise brought to mind the old Steve Martin line about how to be a millionaire and never…

Fiduciary Issues in the COVID Era

It is no secret that these are tough – and confusing – times for most people. Officials inside and outside of government are issuing sometimes contradictory messaging; the economic effects of the pandemic are one of our great unknowns; and data on when – or…

The CARES Act and Your Retirement Plan

The $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act, signed into law on March 27, is designed to provide much-needed economic relief to individuals and businesses adversely affected by Coronavirus (COVID-19). But what everyone might not know about CARES is that it also…

More Tales of 401(k) Plans Gone Awry

As some of my Pentegra colleagues have pointed out in some of our recent blogs, there are many pitfalls and problems that can arise when it comes to the ins and outs of creating, administering and managing your company’s retirement plan. Here are some of…