…participant loans and hardship withdrawals point to another problem – namely that too many people don’t have savings or emergency funds outside of their company’s retirement plan account. It’s no wonder that too often they look to their retirement account in times of financial stress….
…401(a) plan with employer contributions, the 401(a) plan is subject to the 415 limits, but the 403(b) plan has a separate 415 limit. Funds contributed to 403(b) plan generally do not reduce the 415 limits for the 401(a) and vice versa. In May, 2012 the…
…repeated, these have been unprecedented times. However, once the pandemic is behind us – something that now seems possible with the Pfizer and Moderna vaccines – it will be time to regroup and think about how to replenish those retirement funds, and to go about…
…Relief, and Economic Security (CARES) Act of 2020 allowed individuals to access the lesser of $100,000 or 100% of their retirement savings without being subject to early withdrawal penalties, and allowing them to repay those funds over a three-year period without the monies being considered…
…for retirement remain in play: 44 percent cited debt that needs to be paid off; 42 percent estimated that they cannot afford to put more money away; 22 percent said they want to make sure they can access funds in case of an emergency, while…
Each year the Trustees of the Social Security and Medicare Trust funds report on the current and projected financial status of the two programs. The Report includes extensive information about the current operations of these important social insurance programs and analysis of their outlook. Assumptions…
…such as the 401(k) plan, were never intended or designed to replace the Defined Benefit plan—they were meant to supplement it. 401(k) plans permit access to funds while employed and experience shows that many employees draw on these plans to pay for college education, medical…
…to the 20th century and dates back to the Middle Ages or before. Nonetheless, Pentegra’s 75 year history as an outsourced OCIO manager stands apart from any other investment firm in the business today. Pentegra was formed in 1943 as an outsourced investment manager for…
…the information regarding pooled plan providers posted on its website and available to the public is up to date. “Otherwise,” it continued, “the Department, employers, and the public would have to rely on outdated information until a Form 5500 was filed for the plan and…
…is the federal government’s latest economic stimulus package and the first under President Biden. Key Items Defined Benefit Single Employer Plan Funding Relief Defined Benefit Multiemployer Plan Funding Relief Impacts to Defined Contribution Plans Update on The Securing a Strong Retirement Act of 2020 (SSRA)…
…are many PEPs out there to choose from, but even at this early date in the calendar year it does not look like the prediction from the U.S. Department of Labor (DOL) that 3,200 firms would apply to administer PEPs — Pooled Plan Providers (PPPs)…
…31, 2021, with respect to individuals who attain age 72 after that date. The Increasing Retirement Amount Act would allow individuals who do not have access to a workplace retirement plan to save more of their money for retirement by increasing their individual retirement account…