-
1 day ago | 
benefitspro.com | Lynn Varacalli Cavanaugh
For nearly a decade now, Leading Retirement Solutions (LRS) has been on a mission to provide the cannabis industry with access to retirement benefits through its innovative and fully compliant Leading Cannabis 401(k) Plan.
-
1 day ago | 
benefitspro.com | Lynn Varacalli Cavanaugh
Employer-sponsored retirement plans provide important protections for spouses, such as in the event of divorce or the participant’s death, however, gaps remain in spousal protections still, according to the American Academy of Actuaries (AAA). Lawmakers in the House and Senate have re-introduced legislation that would create protections for spouses who have a 401(k) plan.
-
2 days ago | 
benefitspro.com | Lynn Varacalli Cavanaugh
While the second quarter of the year may be a different outcome following market volatility on Wall Street after Trump’s tariffs announcement, Q1 average contribution rate to 401(k) plans hit 14.3% – made up of 9.5% for employees and 4.8% for employers – close to Fidelity’s suggested savings rate of 15%, according to Fidelity Q1 2025 Retirement Analysis: Retirement Savings Rates Reach Record High While Average Account Balances Are Lower.
-
2 days ago | 
benefitspro.com | Lynn Varacalli Cavanaugh
New SECURE 2.0 provisions for auto-enrollment and catch-up contributions kicked in on January 1, 2025, and the Treasury Department and the Internal Revenue Service (IRS) released two separate notifications with requirements related to these new regulations in January.
-
3 days ago | 
benefitspro.com | Lynn Varacalli Cavanaugh
Now, a new bill to modernize retirement plan statements, and supporters of the bill in Congress all seem to agree that it is long overdue. “It is past time that we bring disclosure requirements into the 21st century,” said Senator Tillis. Senator Thom Tillis (R-NC), as he reintroduced the Improving Disclosure for Investors Act of 2025, requiring the Securities and Exchange Commission (SEC) to propose rules allowing for the default electronic delivery of regulatory documents to investors.
-
3 days ago | 
benefitspro.com | Lynn Varacalli Cavanaugh
Earlier in the year, Department of Government Efficiency (DOGE) leader Elon Musk claimed that “millions of dead people” over age 100, with no death record, were receiving Social Security benefits. The Social Security Administration quickly denied that, but a new bill being introduced in the House would actually crack down on benefits payments to the deceased. Last week, the new bill, Valid Benefits Act, was reintroduced by Rep. Greg Steube (R-FL).
-
4 days ago | 
benefitspro.com | Lynn Varacalli Cavanaugh
In a victory for private funds in retirement plans, a federal appeals court has ruled in favor of chipmaker Intel in its long-running lawsuit, alleging a breach of fiduciary duty over hedge funds and private equity fund investments in the company’s 401(k) Savings Plan. Last month, a three-judge panel for the U.S. 9th Circuit Court of Appeals ruled in favor of Intel Corporation fiduciaries, affirming the dismissal of a 6-year lawsuit, Anderson v. Intel Corp.
-
4 days ago | 
benefitspro.com | Lynn Varacalli Cavanaugh
Wealth management firm UBS is the latest in a growing list of large financial and health care firms, including Bank of American and UnitedHealth, being hit with class action 401(k) lawsuits over mismanagement of forfeited funds from departing employees. The case, Czakoczi v.
-
5 days ago | 
benefitspro.com | Lynn Varacalli Cavanaugh
About one in four (26%) millennials expect to live 30 or more years in retirement, according to a new report from TIAA Institute and the Global Financial Literacy Excellence Center, part of the Stanford Initiative for Financial Decision-making. According to the report, 39% of millennials expect to live to age 90 or older, compared to 31% of Gen Z and 30% of Gen X. Yet workers who expect to live longer don't plan to work much longer.
-
5 days ago | 
benefitspro.com | Lynn Varacalli Cavanaugh
For the first time in the Social Security Administration history, the average retiree monthly benefit check is expected to exceed $2,000 in June, however, for some recipients, their checks will be smaller due to federal student loan garnishments, which begin this month. The average retired-worker benefit check hit $1,999.97 in April, according to the Social Security Monthly Statistical Snapshot, which provides data on benefit disbursements.
