Most retirement plan participants say their financial health in deteriorating, and when they turn to their plan’s apps and websites for help, they are not finding what they need, according to a recent survey by research firm J.D. Power.
ABA sent a letter to Senate Finance Committee leaders in support of the Enhancing Retirement Now Act, which would significantly improve retirement savings for Americans. “
The proposed legislation includes a number of provisions that would facilitate the establishment and administration of retirement plans.
ABA this week joined a coalition of financial, insurance and employment trade groups in a letter supporting S. 4353, the bipartisan Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg Act, or the Rise and Shine Act.
ABA this week raised concerns about the Internal Revenue Service’s proposed required minimum distribution rule for retirement plans and IRAs, implementing Sections 114 and 401 of the bipartisan Secure Act of 2019.
Nearly 8 in 10 U.S. households surveyed in late 2021 said they were “doing OK” or “living comfortably,” according to the Federal Reserve’s annual Report on the Economic Well-Being of U.S. Households released today.
In a comment letter responding to a Labor Department request for information, ABA said it is not necessary for the agency to take any regulatory action related to climate-related financial risk or other risks associated with climate change.
The American Bankers Association thanked the Department of Labor for deferring regulatory action on the Schedule H reforms proposed by the department in its recently finalized revisions to Form 5500,
In a letter to the Department of Labor this week, ABA and several financial and retirement trade groups requested that the DOL withdraw regulatory guidance that intends to discourage plan investment options in cryptocurrencies and other digital assets.
The Securities and Exchange Commission this week issued a staff bulletin of frequently asked questions and answers related to standards of conduct for broker-dealers and investment advisers when they are making account recommendations to retail investors.