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The 401(k) Was Never Intended to Be the Retirement Plan

"In 1981, the 401(k) was expanded into a supplemental retirement plan, and the IRA was enlarged so that people with traditional defined benefit retirement plans could also contribute to IRAs and still get a tax deduction. These changes seemed fairly enlightened. Ironically, this marked the beginning of the end of America's progress toward retirement security."

Edited Transcript of a Talk with Jack Faris of the National Federation of Independent Businesses

Excerpt: As the nation's largest advocacy group for small and independent businesses, the National Federation of Independent Businesses is a Goliath made up of many Davids. The group, which has more than 600,000 members, is considered the most powerful business organization in Washington. This year, it is putting its muscle behind legislation that would let small companies band together nationally to buy health insurance.

North Carolina to Decide on New Health Insurance Option for Some State Workers

"[S]tate agencies must absorb the cost of covering temporary employees who work 30 or more hours a week. The category could include as many as 24,000 employees statewide, though that number may be reduced significantly once state agencies determine their personnel needs and workers' eligibility under federal guidelines.... The Senate budget allows the UNC system to go it alone and put out bids for its own plan for these workers ... The House budget requires that all employees in the category statewide be covered under a new option in the State Health Plan."

IBM Changes 401(k) Matches, Workers Fume

"The net effect of the change: Some employees could receive a smaller contribution from IBM into their retirement accounts than they would under the old system.... The company, which employs thousands in Research Triangle Park, notified workers Wednesday that it will stop making matching payments every two weeks in paychecks. Instead, IBM will make a contribution once a year."

Blue Cross Now Seeking 34.6% Rate Hike in North Carolina for ACA Plans

"Blue Cross and Blue Shield, North Carolina's largest health insurer, is scrapping its June request for a 25.7 percent rate increase in favor of a larger rate hike: 34.6 percent.... As the state's dominant health insurer and the only ACA insurer in several dozen counties, Blue Cross is seen as a barometer of North Carolina's health insurance market for pricing and access. The company's request ... would affect about 380,000 people Blue Cross covers in North Carolina on individual policies under the [ACA]. It does not apply to the majority of the 3.9 million Blue Cross covers in the state under employer plans, state plans and other policies."

Amid Retirements, North Carolina Lawmakers Benefit from Pension Perks

A North Carolina law that allows the state's part-time lawmakers to add an expense stipend to their base salary when calculating retirement benefits boosts their pensions by more than 30 percent ... The percentage of salary lawmakers receive as an annual payout also is more than double the rate afforded most state workers.

Blue Cross, UNC to Reduce Some ACA Health Insurance Premiums in North Carolina

"Blue Cross and Blue Shield of North Carolina says premiums paid by [ACA] customers in the Triangle will decrease more than 21 percent on average next year because of a new partnership with UNC Health Care.... Under the partnership, the two companies plan to eventually move to a model where Blue Cross will pay UNC Health Care's physician network, UNC Health Alliance, a set amount to care for a patient or a family over a year, with adjustments for patients with serious health issues."

Duke Energy Becomes Latest Employer to Stop Insuring Retirees

"About 14,500 retirees of Duke Energy, Progress Energy and others, including 6,600 retirees in North Carolina, began receiving notices last week alerting them that the utility company will no longer provide retiree insurance to supplement Medicare coverage. Instead, the Charlotte-based power company will pay retirees an annual stipend, and the former employees will be responsible for picking their own insurance."

Large Payouts Strain North Carolina State Pension System

Excerpt: North Carolina's $68 billion pension system is in better shape than most. But state Treasurer Janet Cowell, whose office administers the fund for state and local governments, has notified the agencies that they must soon come up with $440 million to rebuild the fund after investment losses.

How Trump Is Strengthening American Retirement Security

"President Trump's executive order directs his administration to identify policies that would assist small- and mid-sized businesses to sponsor workplace retirement plans by coming together as a group or association of employers. Such retirement plans would leverage economies of scale to give small-business employees access to the same quality 401(k) plans as workers at large companies.... These plans could offer an efficient way to reduce paperwork and administration costs for small businesses. This means small-business owners could focus on running their businesses rather than running retirement plans -- while still creating opportunity for their employees to prepare for a financially secure retirement."