"This drafting ... leads to two triggering ages and thus two RBDs for those born in 1959.... In certain states (Kentucky, Maine, Colorado, and Nevada), an IRA is considered 'abandoned' if they remain dormant for three years following age 70½.... [A] participant may find themselves with an abandoned IRA at age 73½, before an otherwise age 75 RBD.... Nearer term, the technical error that has made headlines is for catch-up contributions in defined contribution plans."  MORE >>

"This table lays out a few of the significant new retirement rules in the SECURE 2.0 Act, comparing to the previous law and when each new provision goes into effect."  MORE >>

"While low adoption rates have traditionally been attributed to lack of interest and negative impressions of annuities, nearly half (47%) of consultants say the biggest issue is that these products are complex and difficult for them to explain. This was followed by a lack of competitive pricing/cost (28%); burdensome administration (19%); lack of flexibility (15%) and concern about client reactions should things go badly/want to avoid a lawsuit (15%)."  MORE >>

"[D]own markets can create value opportunities for well-diversified portfolios.... This paper discusses how recent developments in the fixed income market may be able to help total return-seeking pension plan portfolios, frozen plans looking to de-risk, and open or recently closed pension plan portfolios."  MORE >>

"Gen X (1965-1980), the first full 401(k) generation, is starting to plan their retirement dates only to discover they didn't save nearly enough or have any idea how to turn their savings into income. This, along with the global pandemic and the ensuing worker shortage, has employers looking at enhancing their retirement benefits as an innovative way to recruit and retain employees."  MORE >>

"The new rule requires that an adviser segregate their assets clearly from client assets so that their client's assets are safe in the event that the adviser declares bankruptcy.... The new rule would also apply to agreements in which an adviser has discretionary trading authority, or the ability to buy and sell client's assets without receiving client permission on a trade-by-trade basis."  MORE >>

"As of now 69 plans covering 686,540 participants have had $45,844,757,860 approved for them. Another 43 plans covering 923,077 participants are asking for $23,099,259,941.... [PBGC] recognized last week that they were about to get a flood of applications and so they instituted a waiting list. Based on available 2020 Schedule MB information for 101 of those plans ... those plans have $29.4 billion [in unfunded liabilities] ... That would bring the total bailout to over $98 billion and the wave has not yet crested."  MORE >>

"Only 1 in 4 business owners have a financial strategy for retirement in the form of a written plan. Post-COVID, 17% of self-employed workers now expect to either retire later than planned or not at all. 37% of small-business owners don't think they make enough profit to save for retirement."  MORE >>

"Victims of severe winter storms, flooding, landslides and mudslides in California beginning March 9, 2023, now have until Oct. 16, 2023, to file various individual and business tax returns and make tax payments ... [I]ndividuals and households ... that reside or have a business in Alpine, Amador, Butte, Calaveras, Del Norte, El Dorado, Fresno, Glenn, Humboldt, Imperial, Inyo, Kern, Kings, Lake, Los Angeles, Madera, Mariposa, Mendocino, Merced, Mono, Monterey, Napa, Nevada, Orange, Placer, Plumas, Sacramento, San Benito, San Bernardino, San Francisco, San Joaquin, San Mateo, San Luis Obispo, Santa Barbara, Santa Clara, Santa Cruz, Sierra, Sonoma, Stanislaus, Trinity, Tulare, Tuolumne and Yuba counties qualify for tax relief."  MORE >>

"[P]articipants in Non-Qualified Deferred Compensation (NQDC) plans also need to understand that their non-qualified retirement savings, like bank deposits, are unsecured 'promises to pay' and subject to the same pitfalls of uninsured bank deposits."  MORE >>