Archive for the ‘Private Sector Pensions’ Category

The Great American Retirement Fraud

Data “Points” had an article this weekend criticizing a recent paper that alleges a “conspiracy…….between employers, investment management firms, advisors and those that support their interests” to do the defrauding.

Both articles are worth a read but here is what I got out of the Michael Doran paper which is the only place I have ever see “cross-testing” referenced as a bad thing and is worth debating.

Continue reading

State Retirement Plan Mandates

Forcing employers to set up retirement plans for their employees through the state is supposed to be a major incentive for those companies who do not have plans but do not want to give their money to states to manage (especially in CA and NJ) to set up their own plans which, as mentioned at the last ASPPA conference, would be a boon for 401(k) TPAs.

Vestwell has a summary of which states are mandating. Here is the New Jersey law:

Continue reading

Is America Really Headed for a Retirement Security Cliff?

Andrew Biggs’ latest tweet:

In modesty, I say that journalists covering retirement issues would really benefit from watching this discussion.

For those two, wherever they may be (if they exist at all), here is that discussion with my comments below.

Continue reading

Soaking Super-Rich Pensions


This Wednesday the House Ways and Means Committee after over seven hours of ‘deliberation’ in a near party-line vote of 24-19 approved the $3.5 trillion Build Back Better Act.

According to ASPPA news the retirement-based changes within the bill’s funding section that are supposed to raise approximately $2.1 trillion over 10 years include:

Continue reading

BBBA On Pensions

Democrats will hold a couple of days of hearings starting tomorrow on the Build Back Better Act (BBBA). This will likely get rammed through so it is worthwhile to see what it has to say about pensions.

Continue reading

IRS With a Heart (and a Brain)

For any pension actuaries out there especially worried about October 15 this year in light of the SECURE Act allowing plan adoptions up to that date, the IRS came through big time.

Continue reading

Senate hearing on retirement security

Last Thursday the Senate held the first hearing on retirement security since 2013 and, to give you a sense of the atmosphere, when a union lawyer was asked about the recent bailout of multiemployer pension plans:

Other clips of note:

Continue reading

SECURE Act 2.0 Passes Committee

The House Ways and Means Committee unanimously approved the Securing a Strong Retirement Act of 2021 which means likely enactment when the next covid relief bill comes along.

Some detail on provisions of interest to me and my clients:

Continue reading

SECURE Act 2.0

Per NTSA, the U.S. House Ways & Means Committee will be focusing on a markup of legislation tomorrow that includes a number of changes impacting private sector pension plans. Here is their list with my emphasis on aspects of most importance to my clients.

Continue reading

American Rescue Plan Act of 2021 (7) 9707

The Save the Community Newspaper Act, first proposed in 2018, is part of the Covid bailout bill as section 9707 which provides Community Newspaper Single Employer plans with another tool to reduce contributions.

Continue reading