Retirement Plan Limits to Rise in 2024, Mercer Projects
Almost all retirement plan limits will increase, with the exception of catch-up contributions, according to the benefits consultancy.
Fidelity: Auto Default Contribution Rate Hits All-Time High of 4.1%
The recordkeeper’s Q2 participant report also finds third-consecutive boost in average retirement account balances on strengthened markets.
Voya Brings Pooled Employer Plan Option to 403(b) Plans
The firm calls its Secure Retirement 403(b) PEP the first to market, following a years-long push for PEPs in the private 401(k) space.
Insurance Group Calls On White House to Support More Retirement, Annuity Legislation
The IRI wrote to the Biden administration in the hopes it will back retirement legislation that paves the way for more guaranteed income products and seeks CIT use in 403(b) plans.
The PLANADVISER Interview: Colbert Narcisse, TIAA
The product and business development leader discusses the opportunities and challenges of in-plan retirement income annuities in DC plans.
BlackRock Invests in Small Business 401(k) Provider Human Interest
BlackRock’s investment comes on the heels of retirement legislation designed to increase retirement plan coverage by small businesses.
Advisory M&A
Alera buys Ascent Group, adds $2.8B in AUM; Heffernan snags Utah-based insurer; Marsh McLennan acquires HMS Insurance Associates; and more.
SECURE 2.0 Enjoys Widespread and Consistent Industry Support
Industry actors and interest groups continue to express enthusiastic support for SECURE 2.0 and support its passage in the coming weeks.
IRS to Permit Determination and Termination Letters for 403(b) Plans
Beginning in June 2023, the IRS will allow 403(b) plans to apply for determination and termination letters, similar to 401(a) plans.
Wilmington Trust Introduces Digital CIT Onboarding Tool
Plan adviser users of the tool can automatically pull key data for the plan they are advising into the system from the data contained in the IRS Form 5500 database.
Social Security Concerns Drive Early Benefit Claims
Almost half of workers surveyed (48%) have no strategy to generate retirement income, Schroders finds.
A Capitol Hill Update With SSGA’s Melissa Kahn
M&A Update: Cammack and Atlanta Retirement Partners Find New Homes
The retirement planning and advisory industry is rapidly changing this year, with two more major acquisitions already being announced by CAPTRUST and OneDigital.
Revived UPenn 403(b) Lawsuit Reaches Settlement
Details have not yet been published, but a court filing shows the parties have reached an agreement to resolve the long-running case.
2021 Plan Sponsor of the Year Nominations Are Open
Do you work with, or know of, a plan sponsor that deserves recognition for going above and beyond? Consider nominating them for a 2021 PLANSPONSOR Plan Sponsor of the Year award.
IRS Simplifies Certain 403(b) Plan Terminations
SECURE Act-based guidance from the IRS will allow for distributions of custodial accounts under rules similar to those that have been available for annuity contracts under a 403(b) plan.
15th Anniversary of RPAY: Stace Hilbrant
403(b) Plans Tuned In to Education
Despite Net Outflows From 401(k)s, Cerulli Sees Opportunities
Cerulli also sees opportunities for advisers in the 403(b), defined benefit (DB), and financial wellness markets.
Georgetown University 403(b) Plan Defeats ERISA Challenge
In a colorfully worded opinion, the district court judge chides plaintiffs for failing to acknowledge basic facts about the way annuities work and their well-established role in 403(b) plans.