Retirement Regulation

The new legislation provides small employers with increased tax credits for new plans and offers reductions on both start-up costs and administrative burdens, yet 2 in 3 small businesses don't offer 401(k)s, says a new survey.

After denying a request by financial groups to extend the public comment period for the new proposed rule, the DOL is now giving stakeholders a chance to make their case at a virtual hearing on Dec. 13 and 14.

Plan sponsors and advisors could face heightened scrutiny under the proposed fiduciary rule, however, they can learn more about the new regulation at a virtual public hearing next week or file public comments by Jan. 2, 2024.

PEPs are a compelling option for employers and advisors seeking efficient, cost-effective recordkeeping solutions – and by entering a PEP, the employer reduces its fiduciary responsibilities.

Most of the new retirement legislation's 92 provisions will kick in for plan sponsors in 2024 and beyond – meaning many companies relying on Excel and similar legacy software are at a crossroads.

Members of a Senate panel that oversees Social Security sent a letter to the agency's acting commissioner, urging her to do more to prevent overpayments and "limit harm to vulnerable beneficiaries" when trying to recover money.

IBM's recent announcement to switch to a "hybrid" model of defined benefit plan could make the case to bring back a version of the classic retirement benefit, which could be a powerful tool for retention in a tight labor market.

From the era of guaranteed lifetime pensions to the modern 401(k), pension risk transfers have become the linchpin connecting the past, present and future of retirement benefits – and allows firms to offload the burdensome legacy.