Tag

Retirement Plans

All articles tagged with #retirement plans

politics27 days ago•3 min saved

Trump moves to widen worker retirement options with private-sector portal

President Trump will sign an executive order to expand access to retirement plans for workers without employer-sponsored plans by directing Treasury to launch a private-sector retirement portal (TrumpIRA.gov) tied to the Saver’s Match, enabling workers to filter and enroll in affordable plans that qualify for the match; Treasury will vet plans but not partner with specific institutions, and the move targets about 54 million workers without access (including 27 million eligible for the Saver’s Match who don’t have a plan). The order also directs Treasury and the NEC to craft broader reforms, such as auto-enrollment and expanded match eligibility.

via Semafor|

#politics #private-sector #retirement-plans

business7 months ago•2 min saved

Gusto Acquires Guideline for $600M, Plans to Divest Rival-Linked Customers

Gusto acquired Guideline for approximately $600 million, aiming to divest Guideline's accounts linked to rival payroll providers, potentially increasing investor returns. The deal follows Guideline's previous valuation of $1.15 billion and its profitable status, despite competitive pressures from rivals like Human Interest.

via TechCrunch|

#acquisition #business #guideline

government-and-finance8 months ago•9 min saved

Rhode Island Sheriffs' Retirement Funds Under Scrutiny

Rhode Island's public employee retirement plan, managed by TIAA, faces scrutiny due to high costs, lack of transparency, and restrictions on accessing funds, highlighting broader issues in American retirement savings and conflicts of interest in financial management.

via NBC News|

#401a #government-and-finance #investor-protection

business8 months ago•2 min saved

IRS and Treasury Finalize Regulations on Roth Catch-Up Contributions under SECURE 2.0

The Treasury and IRS issued final regulations on SECURE 2.0 Act provisions, including rules for Roth catch-up contributions for higher-income employees and increased contribution limits, with most rules applying from 2027 and guidance for plan administrators to comply with the new requirements.

via IRS (.gov)|

#business #irs #retirement-plans

finance9 months ago•7 min saved

Retirement Plans and Cryptocurrency: Potential Drivers of Future Market Growth

Despite market downturns, analysts believe that including digital assets in US 401(k) retirement plans could unlock billions in new capital, potentially driving Bitcoin's price above $200,000 by the end of 2025, with a conservative 1% portfolio allocation estimated to bring in an additional $122 billion.

via Cointelegraph|

#bitcoin #cryptocurrency-inclusion #finance

business9 months ago•2 min saved

Private Equity and Crypto May Enter Your 401(k) Portfolio

The Biden administration is reevaluating guidance for including private credit, real estate, and crypto in retirement plans, as private credit gains popularity for its high returns and diversification benefits, but also poses risks due to its illiquidity and lack of regulation. Experts advise caution, especially for average investors, as these investments are typically suited for the affluent and carry higher fees and risks. While more retail investors are interested in private company investments, financial advisors warn that 401(k)s may not be the best place for high-risk strategies.

via Axios|

#401k #business #investment-risk

business9 months ago•4 min saved

Trump's 401(k) Order Expands Access to Alternative Investments

President Trump signed an executive order to encourage the inclusion of alternative assets like cryptocurrencies, private equity, and real estate in 401(k) retirement plans, prompting a re-evaluation of guidelines by the Labor Department. While this signals a shift towards more diverse investment options, experts caution that fiduciaries will proceed carefully due to legal and prudence considerations, especially given the opaque nature of some assets like private equity and crypto.

via The New York Times|

#alternative-assets #business #crypto

business10 months ago•3 min saved

Elizabeth Warren Opposes Private Equity in 401(k)s Amid Growing Private Market Inclusion

Senator Elizabeth Warren opposes the inclusion of private equity in 401(k) plans, raising concerns about risks, costs, and transparency, as Empower plans to offer this option with safeguards. The debate highlights ongoing questions about expanding access to private markets within retirement savings, with regulatory bodies also exploring these issues.

via CNN|

#401k #business #elizabeth-warren

business10 months ago•6 min saved

Trump's Policies and Actions Impacting Student Loan Borrowers and Debt Relief

The article discusses recent developments in student loan debt collection, including wage garnishments by the Trump administration, and explores how employers can support employees with student debt through benefits like retirement match contributions, PTO exchanges, financial counseling, and educational assistance programs, which could help improve financial wellbeing and reduce stress.

via Fortune|

#business #employee-benefits #financial-wellness

business11 months ago•6 min saved

Trump Removes Crypto and ESG Restrictions from Retirement Plans

The Trump administration has rescinded the Biden-era warning on cryptocurrencies in retirement plans, adopting a neutral stance and leaving investment decisions to fiduciaries, but this shift is unlikely to lead to a significant increase in crypto investments within 401(k)s due to ongoing risks and fiduciary responsibilities.

via The New York Times|

#401k #business #crypto

retirement-planning2 years ago•4 min saved

"Controversial Proposal: Limiting Retirement Tax Breaks to Strengthen Social Security"

A controversial proposal by economists Andrew Biggs and Alicia Munnell suggests limiting tax perks for retirement savings plans to bolster Social Security's funding gap, sparking opposition from critics who argue that removing tax benefits would discourage saving. The proposal aims to redirect funds from retirement plans to shore up Social Security, providing immediate funding while allowing time for lawmakers to consider other changes. Despite pushback, both economists stand by their stance, emphasizing the need to reevaluate the impact of tax preferences on retirement saving behavior.

via CNBC|

#bipartisan-proposal #retirement-planning #retirement-plans

business2 years ago•1 min saved

"3M Announces Pension Freeze for Non-Union Employees in 2028"

3M announced it will freeze pension plans for non-union U.S. employees at the end of 2028, affecting both 3M employees and those at the health care company it is spinning off this year. The move is aimed at cost-saving and transitioning towards 401(k) retirement plans, with CEO Mike Roman stating that the decision is important for setting up future success. The freeze will not impact former employees with vested benefits, retirees, and those receiving pension annuity payments, and affected employees will receive five years of advance notice to plan alternative strategies for their post-retirement income needs.

via Star Tribune|

#3m #business #cost-saving

finance2 years ago•1 min saved

The Debate Over Bonds in Retirement Plans: New Research Findings

New research suggests that investing solely in stocks may provide better value for retirement plans compared to relying on bonds, which have experienced significant losses in recent years. This finding challenges the traditional belief that bonds offer stability and peace of mind for investors. Financial advisors may need to reconsider the 60/40 allocation strategy that includes both stocks and bonds.

via Bloomberg|

#bonds #finance #financial-advisors

finance2 years ago•4 min saved

"IRS Unveils Updated Tax Brackets for 2024"

The IRS has announced the new income tax brackets for 2024, which have been adjusted to account for inflation. The brackets have been raised by 5.4%, with seven brackets ranging from 10% to 37% for individual single taxpayers. The dividend tax brackets have also increased. The standard deduction has been raised for married couples filing jointly, and retirement plan contribution limits have been raised as well. Additionally, the maximum amounts for Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) have been indexed higher. Taxpayers should review the IRS announcement for all the details, as there are other changes to various tax categories.

via WKRC TV Cincinnati|

#finance #income-tax #irs

business2 years ago•0 min saved

"IBM's Controversial 401(k) Strategy Raises Concerns for Employee Retirement Plans"

IBM's new 401(k) strategy has raised concerns among its workers as it could potentially threaten their retirement plans. The company is implementing a cash balance plan, which combines elements of a traditional pension plan and a 401(k), but some employees fear that it may result in reduced benefits and less control over their retirement savings. This move by IBM highlights the ongoing challenges faced by workers in securing their financial future.

via MarketWatch|

#401k #business #financial-strategy