The Sixth Annual Study by Greenwald & Assoc & CANNEX survey of advisors and consumers on guaranteed lifetime income has been released. Not surprisingly, guaranteed lifetime income products become more attractive during market downturns; in 2020, 71% of individuals said annuities serve as a highly...
Good news! People are saving more and still contributing to their retirement plans. Hopefully, the good savings habits will continue once the jobs return and the economy is stronger. Americans saved a high of 33.5% of their income in April, falling to 19.5% in June...
A recent Voya survey found that Americans ranked employers as the third most trusted source of COVID-19 related information (56%), just behind scientists and local health officials. Trust in employers is not new and is a key reason why workplace retirement plans have been so...
There has justifiably been much backlash to Aaron Brown’s July 21 Bloomberg editorial claiming that 401(k) plans no longer make sense given fees and tax rates. Steve Vernon gives a great response in his “Yes, Virginia, it Still Makes Sense” article. Employer provided retirement plans...
EBRI’s most recent issue brief summarizes its findings regarding the impact of a maximum $100,000 CARES Act coronavirus distribution (CRD) from a DC Plan account on retirement balances as a multiple of pay at age 65. EBRI’s simulation showed that participants in the aggregate who take...
May 27, 2020. The Department of Labor (DOL) and the Employee Benefits Security Administration (EBSA) published its long awaited Electronic Disclosure Final Rule (the “Rule”). While the rule will be effective July 26, 2020, the DOL has indicated that plan administrators may begin to rely...
Presented by Phil Tisue CEO, TAG Resources LLC The Basics Any profit sharing or stock bonus plan that meets certain participation requirements of IRC Sec. 40l{k) can be a cash or deferred plan. An employee can agree to a salary reduction or to defer a bonus...
ERISA Advisory Council U.S. Department of Labor Hearing on Outsourcing Employee Benefit Plan Services August 19, 2014 Statement for the Record Troy Tisue President, TAG Resources, LLC Knoxville, TN Executive Summary The upcoming discussion on fiduciary outsourcing, and how this could affect coverage, is an...
Did you think that if you have plan under 3 million that there really is no exposure? This is actually a large misconception. Small plan violations can result in LARGE DOL penalties. Check out our video about the common misconceptions that are associated with plans. TAG...
“Effective Dates” Listing for the SECURE Act Provisions By Robert Toth on December 18, 2019 POSTED IN SECURE ACT The SECURE Act will make substantial and highly technical changes to some very specific elements of retirement plan laws, many to which we have been putting a good deal of attention (and written...