New Jersey Selects Vestwell as Secure Choice Savings Program Administrator
The agreement marks the company’s seventh state-facilitated retirement partner.
Tag: state-run retirement programs
Just the facts
Just the Facts
Consumers Keep Flocking to Annuities After a record-breaking 2022, retail annuities surpassed all of their previous quarterly sales numbers since...
What is MarylandSaves, and What Does it Do?
MarylandSaves, the state’s new auto-IRA program, has an unusual backstory and some unique features that could serve as a model...
Compliance News
Legislative and Judicial Actions
The DOL updates auditor independence rules; the IRS extends plans’ amendment deadlines for certain CARES Act and Tax Relief Act...
Maryland’s State-Run Retirement Program Officially Launches
The program will also help employees build emergency savings through an automatic payroll deduction.
Plan Design / Participant Coverage
Greater Access
Adjust the plan—or craft a new one—to cover a client’s excluded workers.
Why Small Business Owners Often Resist 401(k)s
Two of the reasons most commonly cited by small business owners for not offering a retirement plan are the beliefs that their business is too small to qualify...
MyCTSavings Launch Hailed by State Leaders
Discussing the program’s launch with PLANADVISER, Connecticut Comptroller Natalie Braswell says the goal of the program is straightforward—to help ensure everyone can achieve a financially secure retirement regardless...
Supreme Court Won’t Consider CalSavers ERISA Preemption Lawsuit
The move by the high court stops an advocacy organization’s effort to halt the program, which provides workplace retirement savings...
State-Facilitated Retirement Savings Programs Helping Close Savings Gap
A recent webinar gave state governments the opportunity to share updates on their progress in implementing q state-facilitated retirement savings...
70% of Eligible Employees Have Joined California’s State-Run Retirement Program
Early evidence suggests the mandate for employers that don’t offer a retirement plan to join CalSavers is driving adoption of...
Launch Announced for MarylandSaves State-Run Retirement and Emergency Savings Program
The plan will automatically convert savers’ assets to a monthly paycheck at retirement unless they opt out of doing so.
Taxpayers Association Seeks Supreme Court Review of ERISA Pre-emption Case
The plaintiffs in the case believe California should not be permitted to operate the CalSavers Retirement Savings Program on the...
Trends
Talking Points
Plain Speak Advisers might keep in mind that when asked to choose the term that fits each definition given below, this is what plan participants said: Adviser Firms...
New York City Council Approves Auto-Enroll IRA Program
The proposal creates a mandatory automatic enrollment individual retirement account program for employers that do not offer a retirement plan and employ at least five people.
DOL Notifies Court It No Longer Supports Lawsuit Against CalSavers
A court filing cites the change in administration as the reason for backing out of the suit.
DOL Files Brief in Case Over ERISA Preemption of CalSavers
A brief filed in a federal appellate court explains how the agency believes a federal district court erred in dismissing the case.
Judge Finds CalSavers Not Preempted by ERISA
A federal judge dismissed the lawsuit and decided that granting the plaintiffs leave to amend would be futile.
U.S. Attorneys File Statement in CalSavers Lawsuit
The attorneys argue that the CalSavers program goes against ERISA's intent for a voluntary benefits offering and a nationally uniform plan administration structure.
State-Run Auto-IRAs Will Help Close the Coverage Gap
Sources view state-run retirement savings plans as useful for improving retirement readiness, as well as a potential business opportunity for...