DOL Recommends Reopening Retirees’ Lawsuit Against IBM
WEBAug 30, 2024 · The Department of Labor is urging the U.S. 2nd Circuit Court of Appeals to reopen a lawsuit filed against IBM Corp. and its plan administrator committee in June 2022. The technology company was accused by three long-time IBM employees of using outdated mortality tables and inflated interest rate assumptions to determine the value of annuity ...
PLANADVISER - The trusted information and solutions resource for ...
WEBPLANADVISER is the trusted information and solutions resource for America's retirement benefits decision makers. With its powerful array of customer-driven marketing programs, PLANADVISER offers industry providers an unparalleled ability …
Unpacking New Use of 529s to Invest in Roth IRAs - PLANADVISER
WEBAug 23, 2024 · It also may provide piece of mind for a growing tax-deferred savings vehicle: according to findings earlier this year from ISS Market Intelligence, which, like PLANADVISER, is owned by ISS STOXX, 529 assets grew 5.7% in the first quarter of 2024 and 15.6% over the past year. Account balances also, on …
Franklin Templeton, Pacific Life Join In-Plan Lifetime Income Push
WEBJul 31, 2024 · Franklin Templeton (Franklin Resources Inc.) and Pacific Life Insurance Co. on Tuesday announced their entrance into the defined contribution lifetime income market through a defined contribution managed account. The firms’ partnership will see Franklin Templeton’s Goals Optimization Engine advice offering guide participant’s to ...
IRS Summarizes Retirement Plan Hardship Withdrawal Rules
WEBNov 2, 2021 · The rules for participant hardship withdrawals from 401 (k) and 403 (b) plans have changed since the passage of the Bipartisan Budget Act of 2018 and subsequent IRS regulations, and the agency has updated its “Issue Snapshot – Hardship Distributions from 401 (k) Plans” to reflect those changes. The bill called for the secretary of the ...
Alight Names Dave Guilmette as CEO - PLANADVISER
WEBAug 26, 2024 · According to Alight, the recent $1.2 billion sale of its payroll and professional services segment to an affiliate of H.I.G. Capital aligns with its leadership transition, as the company sought a CEO with deeper experience in the benefits industry. “I am honored to lead Alight at this pivotal time,” Guilmette said in a statement.
JP Morgan Launches TDF With Guaranteed Income Annuity
WEBAug 15, 2024 · J.P. Morgan Asset Management announced on Thursday a retirement income investment leveraging a target-date fund with a guaranteed annuity payout in retirement. The firm’s SmartRetirement Lifetime Income TDF is designed to provide a stream of income payments in retirement through annuities from participating insurance companies, according to ...
IRS Finalizes 10-Year Rule - PLANADVISER
WEBJul 18, 2024 · The IRS will publish final rules Friday clarifying how a new 10-year rule regarding the withdrawal and eligibility requirements for inherited retirement assets will be implemented in 2025. The regulator posted the rules Thursday in “unpublished” format. The Setting Every Community Up for Retirement Enhancement Act of 2019 required that certain beneficiaries of a deceased individual ...
magazine - PLANADVISER
WEBJust the Facts. Boomers Hold Half of the Nation’s Wealth Annuity Sales In the first 9 months of 2023, total annuity sales increased 21% to $270.6 billion.Source: LIMRA, U.S. Individual Annuity... Just the facts.
IRS Notice Clarifies SECURE 2.0 Automatic Enrollment, Tax Credits ...
WEBDec 28, 2023 · Section 101 of SECURE 2.0 requires defined contribution plans that are created after the law was enacted on December 29, 2022 to have automatic enrollment and deferral features starting on January 1, 2025. Specifically, plans must enroll participants at contribution levels of between 3% and 10% of salary …