Retirement Regulation

Senator Bill Cassidy, along with 26 colleagues, is calling for the “immediate implementation” of the new Social Security law, after SSA announced payments to public workers could take “more than 1 year.”

Senators Jack Reed and Sheldon Whitehouse, who co-sponsored the new federal law, are calling on the Trump administration to expedite its implementation, following the SSA’s announcement that it could take “more than 1 year” to make payments to public service retirees.

Both brokerage firms moved a customer’s uninvested cash from a brokerage account into an interest-bearing account, violating the Advisers Act, according to the Securities and Exchange Commission.

The Saver's Match program, which launches in 2027, allows low-income employees to receive a 50% federal matching contribution of up to $1,000, in addition to any employer match – and will “significantly boost retirement wealth,” says Morningstar Center for Retirement.

The fee cuts are the largest annual expense ratio reduction in the firm’s 50-year history – and the first major announcement from newly appointed CEO Salim Ramji.

The new offering is designed to expand access to workplace retirement plans for small and medium-sized businesses to "pool" their assets into a single plan, while alleviating the administrative burdens of running a retirement plan.

About 70% of the 401(k) plan—nearly $2 billion—was invested in one fund, when "much cheaper" versions of this investment were available, allege employees in the class action lawsuit, on behalf of 38,000 participants.

In early January, President Biden signed the new law, which will boost Social Security retirement payments to police and firefighters, but now payments (though retroactive) will be delayed.