Illustrations to Offer a Meaningful Picture of Retirement Savings

Wouldn’t it be great if, in the future, 401(k) plan statements included an estimate of how much monthly income the account balance could produce in retirement? Good news – soon, all 401(k) statements will include this type of illustration. That’s due to a provision in the Setting Every Community Up for Retirement Enhancement (SECURE) Act, … Continue reading "Illustrations to Offer a Meaningful Picture of Retirement Savings"

Consumers Are Protected by Regulation Best Interest

In a few days, consumers will enjoy enhanced protections under the Securities and Exchange Commission’s Regulation Best Interest (Reg BI). Reg BI imposes a heightened standard of conduct on financial professionals beginning June 30. Reg BI is the first step toward national, harmonized enhanced consumer protections for consumers seeking guaranteed lifetime income. Together with Form … Continue reading "Consumers Are Protected by Regulation Best Interest"

An Opening for Open MEPS?

Too many Americans lack access to a workplace retirement savings plan. Open multiple employer plans (known as open MEPs) are one great solution to expanding retirement plan access.  The concept is simple – let unrelated employers band together to offer a common retirement plan to their employees.   MEPs are not a new concept. But they’re … Continue reading "An Opening for Open MEPS?"