Introducing the 2022 PLANADVISER Vision Awards
House Easily Passes the Securing a Strong Retirement Act
The landmark retirement legislation passed the House by a margin of 414 to 5, setting the stage for debate and passage by the Senate.
Legislators Introduce Bicameral Auto Re-Enroll Legislation
The bill would prompt employees who initially opt out of a retirement savings plan to reconsider every three years.
Opportunities Abound for Micros
The 2022 Retirement Legislation Landscape Takes Shape
The SECURE Act became law at the very end of 2019, ushering in major changes for the retirement planning industry, and experts are again asking whether the close of 2021 could bring similar progress.
Advocacy Continues for Retirement-Related Provisions in Budget Draft, Other Bills
Industry professionals who work with lawmakers in Washington say they remain hopeful that retirement security issues will be addressed in the federal government’s budget for fiscal year 2022.
Retirement Policies Feature in Draft Budget Language Going Before House Committee
Budget reconciliation legislation set for debate in Congress gives top billing to universal paid family and medical leave, but key retirement policies also stand out, including a broad mandate for employers to offer retirement plans.
Workers More Receptive to Auto-Features, Post-COVID-19
More than eight in 10 say they want to be automatically enrolled into a plan at an early age, according to Principal, but only a third of employers are offering the feature.
House Committees Build Consensus on ‘SECURE 2.0’
As evidenced by Wednesday morning’s House Education and Labor Committee hearing, retirement security is a topic where strong bipartisan consensus is possible, even in an intensely divided Congress.
House Ways and Means Committee Passes SECURE Act 2.0
The markup hearing, punctuated by a unanimous vote to advance the legislation, demonstrated that retirement security issues are capable of bringing together members of Congress who don’t agree on much else.
15th Anniversary of RPAY: Greenspring Advisors
The practice believes that since so many advisory firms are acquired by aggregators, the personal attention it offers clients will come to be viewed as a precious commodity.
15th Anniversary of RPAY: Jania Stout
In the past few years, her practice has grown its assets by nearly $1 billion a year.
15th Anniversary of RPAY: Chepenik Financial Services
Jason Chepenik says advisers need to continue to have the courage to try new ideas.
15th Anniversary of RPAY: Heffernan Financial Services
Despite the lack of in-person communication in 2020, the practice has gained a fair amount of new business by disseminating promotional videos.
T. Rowe Price: 401(k) Participation Nears 80%
What is particularly encouraging is that 37% of plans on T. Rowe Price’s platform automatically enroll their participants at a 6% or higher deferral rate.
Plan Sponsors Calling on Advisers to Improve Participant Outcomes
“They are hiring advisers to understand how well their plan is functioning and how to improve it,” Jordan Burgess, with Fidelity Institutional Asset Management, tells PLANADVISER.
Proactive Plan Sponsors Reap Benefits
Plan sponsors that fully automate their plans are more likely than others to believe their workers are on the path towards a financially secure retirement, J.P. Morgan found.
Nearly Half of Vanguard Plans Use Automatic Enrollment
At year-end 2018, 66% of new plan entrants were enrolled via automatic enrollment.
Average 401(k) Account Balance Has Soared 466% in Past 10 Years
Fidelity analyzed the balances of those who remained invested in their 401(k) in the decade following the Great Recession of 2008 and found that the balances went from $52,600 to $297,700.
Tailoring Plan Designs to Reflect Shorter Employee Tenure
Recent research reports suggest average employee tenure in the U.S. has trended downward; retirement industry experts agree this fact should inform plan design discussions and participant-level services.