Newsmakers
401(k) Balances Rise to Record in 2021
The average plan’s value rose 8% during the year to $130,700.
Tag: IRA
Pensions
House Considers Auto-Enrollment Legislation
The proposed bill would require nearly all US companies to enroll workers in a retirement plan.
Pensions
Connecticut Seeks Volunteers for Pilot Retirement Program
The retirement authority is offering companies a chance to help design a state-run plan called MyCTSavings
Regulation
Retirement Support Could Be Included in $2 Trillion Infrastructure Bill
House Ways & Means Chairman Neal backs the recommendations of the new Racial Equity Initiative.
Pensions
NY State Assembly Passes Mandatory Auto-IRA Bill
The amended ‘Secure Choice’ program would apply to companies with 10 or more employees.
Asset Management Culture
CalSavers Survives Legal Challenge
Appellate court rules ERISA doesn’t pre-empt the California law that created the state-managed IRA program.
Pensions
NYC Council Passes IRA Auto-Enrollment Bills
The legislation would establish a mandatory retirement savings program and a board to oversee it.
Regulation
Extortionist Pleads Guilty to Crypto Firm Shakedown
Michael Hlady, who claimed to be part of the FBI, CIA, and NSA, threatened to ‘destroy’ a startup.
Pensions
Virginia Legislature Passes Bill to Create State-Run Retirement Plan
The VirginiaSaves program would require mandatory participation by eligible employers.
Research
Retirement Account Balances Rise to Record Levels in Q4
Women are ‘saving more for retirement than ever before’ with record contribution rates.
Newsmakers
Oklahoma Bill Would Create State-Run Retirement Plan
Proposal calls for auto-enrollment IRAs for workers whose employers don’t offer a retirement plan.
Alternatives
Wisconsin Treasurer Recommends Creating State-Run Retirement Plan
Auto-IRA program WisconsinSaves would provide all workers access to a retirement benefit.
Regulation
Permission to Tap 401(k)s Worries SEC Chief
New penalty-free retirement plan withdrawals, meant as recession relief, may result in too-risky investing, Jay Clayton says.