"The proposed regulations issued today provide rules on how the Secretary of the Treasury will make one-time $1,000 pilot program contributions to the Trump Accounts of eligible children for whom elections have been made. The proposed regulations provide guidance regarding the effects of making an election for an eligible child to receive a $1,000 contribution and define other qualifications."  MORE >>

"[S]ome of the law changes included in the updated safe harbor explanations: [1] The list of distributions that qualify for an exception from the 10% early withdrawal penalty was expanded ... [2] The explanations have been updated for changes in the rules relating to Required Minimum Distributions (RMDs) ... [3] Distributions from governmental plans to eligible retired public safety officers are not includible in gross income if paid by the employee for qualified health insurance premiums for the year.... [4] The explanations now include a description of the special rules and tax treatment of PLESAs."  MORE >>

"While it is true that annuities can't be a standalone default option, it is not legally correct to suggest that they can't be part of a default option ... In fact, the DOL has specifically ruled that ... a QDIA can include an insured income guarantee as a part of a qualified default investment alternative. The QDIA could, for example, be a managed account with an annuity or GLWB component, or a target-date fund with a GLWB."  MORE >>

"A group of regulators informally asked 25 insurers to provide their annuity illustrations and found: [1] One-third of the illustrations used a highest illustrated rate of 10% or lower. [2] For two-thirds of the illustrations, roughly half used highest illustrated rates ranging between 11% and 15% and the remaining half used highest illustrated rates ranging between 16% and 27%.... [3] The highest illustrated rates involved recently created indexes with volatility control, many of which are 'proprietary.' The illustrated rates were based on backcasted data."  MORE >>

"Many plan sponsor challenges may stem from unclear expectations rather than poor intent or lack of effort. When roles are not well defined, sponsors may assume something is being handled by a provider when it remains the sponsor's responsibility. Outsourcing administrative or investment functions does not remove fiduciary responsibility from the employer sponsoring the plan, even when multiple providers are involved. Sponsors who establish clarity upfront may be better positioned to manage risk and maintain compliance."  MORE >>

"A newly released whitepaper details how a 'neutral, digital clearinghouse' can reduce retirement plan cash outs and the number of dormant accounts, all while enabling seamless interoperability across recordkeepers, custodians, and government programs."  MORE >>

"Participation and savings patterns offer insight into how employees are engaging with their plan and whether contribution behaviors are supporting long-term savings goals.... Plan participation rate ... Average deferral rate ... Employer match utilization rate ... Automatic enrollment opt-out rate ... Automatic escalation success rate ... Participant registration rate ... Online engagement rate ... Call center volume and participant inquiry patterns."  MORE >>

"Not only are many young Americans not even beginning to think about retirement yet, but studies also indicate millennials and Generation Z prefer to go online for financial advice rather than engage with a professional consultant. A possible solution is for advisors to leverage technology in tandem with their industry experience to reach more people."  MORE >>

"A 65-year-old man enrolled in a Medigap plan with average premiums will need to have saved $120,000 to have a 50 percent chance of having enough to cover premiums and median prescription drug expenditures, and a 65-year-old woman will need to have saved $146,000.... [A] couple with particularly high prescription drug expenditures will need to have saved $469,000 to have a 90 percent chance of having enough money to cover their health care costs in retirement."  MORE >>