Financial Times: Retirement industry slams Obama’s 401(k) cap

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Retirement industry slams Obama’s 401(k) cap Excerpt: “The plan gets shuts down when the business owner has no incentive to continue with the plan, and the plan participants are impacted,” says Brian Graff, chief executive of the American Society of Pension Professionals and Actuaries. He says studies have shown plan participants are 15 times more… Continue reading

The Wall Street Journal: Department of Labor Expands Audit and Enforcement Focus, Imposing $1.27 Billion in Fines

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Department of Labor Expands Audit and Enforcement Focus, Imposing $1.27 Billion in Fines Excerpt: “According to the National Association of Plan Advisors, in the 12 months ending Oct. 1, 2012, more than 300 investigations resulting in $1.27 billion in fines were levied by the United States Department of Labor’s Employee Benefits Security Administration (EBSA). EBSA… Continue reading

The Wall Street Journal: Duly Noted

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Market Watch - Duly Noted Excerpt: “U.S. workers could see their retirement savings tumble 20% if Congress and the president fail to craft a deal to raise the federal government’s $16.7 trillion debt ceiling, a new report shows. According to the Association of Pension Professionals & Actuaries’ (ASPPA) “Retirement Savings Will Suffer if Congress Does… Continue reading