A flurry of bipartisan retirement bills introduced in Senate

All are intended to improve retirement security

Jon VoglerTime to read: 3 min

On July 17, two Republican and two Democratic senators joined forces to introduce a package of four bills that are intended to improve retirement security by expanding and enhancing workplace retirement plans.

As introduced, the bills would:

  • Make it easier for small employers to join multiple employer plans (MEPs).
  • Provide employer incentives for plans to use automatic enrollment and automatic escalation features.
  • Allow employers to create “emergency savings accounts” to help employees with financial emergencies.
  • Allow tax filers to automatically defer part of their tax refunds through a direct credit into a “rainy day fund.”

This back-to-school season, find your balance with a 529 plan

With another school year approaching, now is the perfect time for some back-to-school resolutions

Time to read: 2 min

I’ve always been a huge fan of resolutions — and not just on Jan. 1. When our children were growing up, my wife and I used the beginning of each new school year to make some resolutions of our own. We’d swear not to lose the permission slips for field trips, we promised that we would check homework every night and we committed to adding uplifting notes to our kids’ lunchboxes every morning. Here are three additional back-to-school resolutions that helped my family during those busy school years:


New study suggests student loan debt does not adversely affect 401(k) participation

While 401(k) participation went unhampered, the report discovered that retirement wealth accumulation for graduates was affected

Jon VoglerTime to read: 2 min

Student loan debt nearly tripled in real terms between 2005 and 2017, and both the share of college graduates with loans and their average outstanding loan balance soared. However, a recent brief from the Center for Retirement Research (CRR) titled “Do Young Adults with Student Debt Save Less for Retirement?” indicates that the amount of student debt has little effect on 401(k) plan participation. Participation rates among college graduates with low, medium and high loan balances were practically similar, according to the study.


DCIIA to DC plan sponsors: It’s time to reevaluate distribution options

Plan sponsors are increasingly reviewing how their plans enable workers who are near and in retirement to access their funds

Jon VoglerTime to read: 2 min

A recent white paper from the Defined Contribution Institutional Investment Association (DCIIA) suggests that plan sponsors reevaluate their plans’ objectives with respect to retired/separated participants, and then determine if the plans’ retirement income and distribution options align with these objectives.


Flood of comments could influence SEC advice rule

Part of Invesco’s Legislative Insights Series

Jon VoglerTime to read: 2 min

On June 21, the Fifth Circuit Court of Appeals issued a mandate officially implementing its March 15 ruling to vacate the Department of Labor (DOL) fiduciary rule in its entirety. With the demise of that rule, attention has shifted to the Securities and Exchange Commission (SEC) proposals released on April 18 on the standards of conduct for broker-dealers and investment advisors. According to former SEC member Michael Piwowar, public comments will be crucial in shaping the agency’s reform of investment advice standards.


Social Security trust funds projected to run dry by 2034

The recent Social Security trustees report calls for congressional action to keep the program solvent

Jon VoglerTime to read: 2 min

On June 5, the Social Security Board of Trustees released its annual report on the long-term financial stability of the Social Security trust funds. The report found that the combined asset reserves of the Old-Age and Survivors Insurance and Disability Insurance (OASDI) are projected to become depleted in 2034 (the same finding as last year’s report), with 79% payable at that time (slightly higher than last year’s projected 77% figure).