Retirement

It’s a fair and reasonable ask of legislators to create parity of choice for retirement investors, regardless of who their employer is, according to collective trust provider Great Gray Trust Company.

More than 15,000 retirement plans, representing approximately 5 million participants, have signed up for auto portability – which moves 401(k)s to new retirement plans – in the last year, says the Portability Services Network.

President-elect Donald Trump has named economist Kevin Hassett, who is known in the retirement industry for a high-profile white paper that was the basis for the Retirement Savings for Americans Act bill, to lead the White House National Economic Council.

Most (82%) participants in National Association of Government Defined Contribution Administrators  member plans have access to defined benefit and defined contribution plans, according to a new NAGDCA guide.

Improving retirement security in America has been one of the things that has had wide bipartisan support recently, and now Republican control of the Presidency, House, and Senate could make passing retirement legislation easier, says retirement industry insider David Blanchett.

These large asset management firms violated antitrust law through climate activism that resulted in reduced coal production and boosted energy prices, according to a lawsuit filed by Texas attorney general Ken Paxton.

After plan sponsors understand which provisions are applicable and when they need to be implemented by, the next step is to determine who will be responsible for the implementation.

Employees who start saving an additional $7,500 per year until age 67, while earning a modest 7% compounded annually, can add $250,000 to their retirement nest egg, says Ambassador Wealth Management’s Phill Battin.