Tax Evasion and Underpayments: Report to the IRS

Rule 18 from this book for when you become aware a plan sponsor stole pension money.

Issues with Politico Claiming the 401(k) industry owns Congress

These are the top five fallacies I found in the Politico article.

Response to Politico on the 401(k) industry owning Congress

I was inteviewed by Benjamin Guggenheim for this Politico article. Nothing I said made it into the piece. This is what I emailed to the author on November 15, 2023 which explains the real problem with the current state of private pensions and it does not have to do with more money in the system (which is a good thing) or lobbyists making laws (which is not exactly breaking news).

The 401(k) industry owns Congress’: How lawmakers quietly passed a $300 billion windfall to the wealthy

So I would get this to print out on 14 instead of 32 pages here is the Politico article that I will offer my comments on in the next blog. I was contacted by the author, Benjamin Guggenheim, and we had a long phone conversation and exchanged some emails last November.

Trial and Error

Subititled The Educaiton of a Courtroom Lawyer, John C. Tucker was a Chicago trial lawyer in the last century who, in retirement, wrote about a few of his cases while offering insights into the job.

Work Retire Repeat

Teresa Ghilarducci has been a Cassandra for the decline of Defined Benefit Plans and her new book advocates for government expanding Social Security through Guarnateed Retirement Accounts since the private sector is not doing the job of providing secure benefits for older workers. However statistics and anecdotes do not drive home that sad tale as much as the experience of small plan acturies (like me) in designing retirement plans.

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Furious George

George Karl going on about his forty years surviving NBA divas (Carmelo Antohony, Kenyon Martin, and J. R. Smith) , clueless GMs (Wally Walker), and cancer.

Taking a “Serious” Look at the Retirement Crisis in America

The Senate Health, Education, Labor, and Pensions (HELP) Committee, chaired by Sen. Bernie Sanders (I-Vt.), held a hearing this morning titled “Taking a Serious Look at the Retirement Crisis in America: What Can We Do to Expand Defined Benefit Pension Plans for Workers?”

A lot of talking points we have all heard before with these clips I found notable:

New IRS Compliance Questions

Who will the IRS go after with its $80 billion budget boost?

Judging by the new compliance questions added to the 2023 5500-SF form it may be CB/DC combo plans, 401(k) plans, and non-amenders.

On Learning to Heal

The book is subtitled “What Medicine Doesn’t Know” and these are excerpts from the Crohn’s chapter.