SECURE Act | IMPACT

Game Changer: The Retirement PEP Rally

A critical challenge in enhancing Americans’ retirement security is expanding access to workplace retirement savings – especially for those working for small employers. In response, Congress included a pooled plan solution in the SECURE Act. With a pooled plan, most of the administrative and fiduciary responsibilities are handled by the pooled plan provider – not … Continue reading

COVID-19 Magnifies Retirement Savings Gap, Emphasizes Need to Act

The economic slowdown prompted by the COVID-19 pandemic has affected millions of Americans. It has also intensified the importance of finding solutions to the retirement savings gap faced by so many Americans. One-third reaching retirement age have $25,000 or less saved. Last year, the U.S. Congress took an important step forward by passing the SECURE … Continue reading

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

COVID-19 and Retirement Savings: New Challenges for Small Employers

There is no doubt that the COVID-19 crisis is posing serious challenges to small employer retirement plans and the ability of workers to save for the long term. Expanding access to workplace retirement plans – especially at small businesses – will be crucial as Americans strive to meet the savings challenge during and after this … Continue reading

Protecting Access for All Savers

With all the turbulence and strife in recent months, we sure could use some soothing news. Cue up the Securities and Exchange Commission and its Regulation Best Interest (Reg BI). Reg BI takes effect tomorrow. Together with the National Association of Insurance Commissioners’ (NAIC) revised Suitability in Annuity Transactions Model Regulation, Reg BI will ensure financial professionals … Continue reading

Annuities – Trusted Retirement Income

Across America, defined benefit pension plans continue to be replaced by retirement savings arrangements like the 401(k). With the U.S. Congress passing the SECURE Act last year, more folks will be saving in 401(k) plans. When coupled with an annuity, 401(k) savings can provide meaningful pension-like secure income throughout retirement. Annuities are the only financial … Continue reading

Action Items for Increasing Financial Security

[A version of this appeared in Morning Consult] Late last year, who could have predicted the financial upheaval we now face? No one. The uncertainties created by the COVID-19 economy have exposed a growing societal need for financial protection and security. Addressing these needs will be vitally important as our nation moves forward. A series … Continue reading