Happy Friday, readers! We finally have a new Secretary of Labor, on the verge of President Trump’s 100th day in office. Andrew Acosta is known for a distinguished career in public service, and compared with the previous pick for the position, the response to the nomination and approval of Acosta has been far more positive, both on the left and the right of the political spectrum. Get the latest reporting on the Acosta confirmation and other pressing regulatory matters below, and have a great weekend!
The newly confirmed Secretary of Labor, Alexander Acosta, will steer from the top the effort to either overturn or leave in place the Obama-era fiduciary rule and other regulatory reforms.
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At a recent PLANADVISER focus group event, it was evident that small- and mid-market plan sponsors had little interest in “white labeling” investments—and their rationale might surprise you.
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Data shared by the Investment Company Institute suggests Social Security is a kind of income bonus for many—not a final income lifeline to be tapped once other wealth runs out.
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The Shrinking Emergency Account Losses Act would allow employees to continue to contribute to their DC plans during the six months following a hardship withdrawal, among other things.
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A new study by the Center for Retirement Research explores the modern state of the individual retirement account and those who invest in it.
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MassMutual says a married couple that lives into their 90s but decides to begin their Social Security benefits at age 62 as opposed to age 70 could be leaving as much as half a million dollars on the table, or forfeiting $2,000 to $4,000 a month for life.
With the passage of the SECURE Act by the House of Representatives, experts tell PLANADVISER they are optimistic that agreement will be reached with the Senate during this Congress, but the many supporters of retirement reform will have to wait and see how compromise might be reached.
One retirement industry executive says she believes the Senate could act quite quickly in taking up the SECURE Act, which just passed the House of Representatives with a practically unanimous yea vote.
Besides a lengthy Finance Committee hearing discussing the popular RESA legislation, the day on Capitol Hill also brought news of the introduction of the new Retirement Security and Savings Act.
