"RMD penalty waiver language contained in Section 313 of SECURE 2.0 ... adds a 3-year statute of limitations for missed RMDs. Meaning, if an RMD is missed, the 25% penalty is only applicable for the next three years.... But be forewarned! SECURE 2.0 is not perfectly clear. The legislation is not precise."  MORE >>

[T]those in favor of pooled employer plans seemed not only quite keen, but enthusiastic about the current state -- and their prospects. And while there has certainly been a lot of PEP creation, the take-up -- undoubtedly somewhat stymied by the onset of COVID-19 -- has likely been less than hoped overall."  MORE >>

"On average, survey respondents expect they will need about $1.8 million saved to achieve a comfortable retirement, up slightly from last year's estimate of $1.7 million. However, confidence in their ability to attain their retirement goals slipped this year from 47% of 401(k) participants indicating they were very likely to meet their goals last year to 37% this year, amid a variety of economic challenges."  MORE >>

"Participants in 401(k) plans are becoming more comfortable with equity investing, raising their allocation in July to 70.2% -- the highest rate in 18 months ... June and July represented the first time since March and April 2021 that the Alight Solutions 401(k) index recorded two consecutive months of net inflows to equity[.]"  MORE >>

"Aside from minimizing required distributions during your own lifetime, another advantage of Roth IRAs is from an estate planning perspective.... For investors who are right on the upper edge of a tax or IRMAA bracket ... gifting stocks with high unrealized gains (preferably) to a donor-advised fund or gifting part of an RMD from the IRA will help reduce income and provide more room for a Roth conversion."  MORE >>

"[R]esearch and make a plan for when you intend to claim Social Security. Waiting a bit may raise your monthly benefit ... Make a budget and map out where you intend to get your income. Include things like personal investments, retirement accounts, and pensions. Try to pay off your debt before retiring, but be smart about it. If paying off your mortgage will deplete your money to a risky level, it may be wiser to leave it be for now."  MORE >>

"As of June 30, 2023, three new auto-IRA programs have been enacted this year -- Minnesota, Nevada, and Vermont and one new Multiple Employer Plan (MEP) in Missouri. Vermont changed its existing program from a voluntary MEP to an auto-IRA program. As of June 30, 2023, there are 19 states that have enacted new programs for private sector workers."  MORE >>

"The pension risk transfer market saw its highest ever volume of premium and number of transactions placed in the first half of the year, with $6.3 billion placed in Q1 and $16.1B placed in Q2. There was an increase in the number of transactions and volume of premium for lift-outs and plan terminations in the first half of 2023 compared to 2022. ... Buy-in solutions, accounting for $1.6B in premium placed across 6 transactions during the first half of 2023, remain a niche solution at the larger end of the market."  MORE >>

"Tom was the first American Retirement Association President in addition to serving as President of both ASPPA and ASEA. A fixture speaking at virtually every ASPPA and ASEA conference, Tom was previously awarded ASPPA's Educator of the Year Award and just this past year was awarded ASPPA's Founders Award named after ASPPA's first president, Harry T Edison.... Tom's service to our industry and to [ASPPA] was without peer."  MORE >>

"[V]ictims of wildfires in parts of Hawaii that began on Aug. 8, 2023, now have until Feb. 15, 2024, to file various individual and business tax returns and make tax payments.... [I]ndividuals and households affected by wildfires that reside or have a business in the counties of Maui and Hawaii qualify for federal tax relief."  MORE >>