Deals & People April 4, 2013

ASPPA Names Government Affairs Director

Ronald J. Triche will join the government affairs team of the American Society of Pension Professionals & Actuaries (ASPPA) on April 22.
 
Reported by

In his role as director of government affairs, Triche will manage the ASPPA government affairs committee and develop regulatory comments through a committee process, draft summaries of agency guidance and present ASPPA’s position to agencies such as the Department of Labor, the Internal Revenue Service, Pension Benefit Guaranty Corporation and the Securities and Exchange Commission. Triche will also serve as in-house assistant general counsel to ASPPA.

Triche brings more than 12 years of regulatory experience to his new role as assistant general counsel and director of government affairs. He was previously at Trucker Huss as a retirement plan benefits attorney practicing in employee retirement income security act (ERISA) and qualified plans. Before that, he practiced in New Orleans. 

While at Trucker Huss, Triche focused on all legal aspects of qualified retirement plans, 401(k) and 403(b) plans, and multiemployer and Taft-Hartley plans. He helped clients with administrative issues; various plan qualification matters; Qualified Domestic Relations Order reviews; Patient Protection and Affordable Care Act of 2010 issues; and preparation of plan documents, Summary Plan Descriptions and plan amendments.

 

Data & Research April 4, 2013

More Workers Planning for Retirement

More American workers are planning for their retirement, according to the latest Financial Well-Being Index from The Principal.
Reported by

Only 28% of respondents said they have not yet planned for financial security in retirement, down from 32% last quarter. Those working with a financial adviser are more prepared—75% of workers who use a financial professional are planning for retirement security, compared to only 49% of workers who do not use a financial professional.   

The Index also found more American workers feel secure about the country’s overall economic outlook. More than one-third of workers (35%) describe their economic outlook as optimistic, up from just 21% in the third quarter of 2012, the last time workers were asked their views on the overall economy. 

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

However, American workers remain cautious when assessing their expectations for the next year. While 40% of workers think the economy will improve throughout 2013, a majority (60%) still believe the economy will stay the same or worsen. Additionally, 44% of employees are holding off from making long-term financial commitments, such as buying a home or a car, due to the current state of the economy.   

Of the 64% of workers who expect to receive a federal or state tax refund from their 2012 tax return, 46% plan to save or invest the refund, 38% will use it to pay down short-term debt, and 23% will pay down long-term debt. Fifteen percent will spend their refund on consumer products and 7% will spend on a big ticket purchase.   

The survey was conducted online by Harris Interactive in first quarter 2013 among 1,100 employees. View the full survey results and download an infographic at www.principal.com/wellbeing.

«