Business of Benefits

Business of Benefits

Category Archives: Auto-IRA

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Is Lifetime Income’s Future-and, Ultimately, That of Retirement Security- Through the IRA?

Posted in Auto-IRA, IRA, IRA Fintech, Lifetime Income, QLAC, QLAC IRA, Retirement Plan Securities Issues
IRAs, for whatever reason, are stealthily changing the retirement future. When you look closely at their structures, they can be designed to be incredibly flexible (though often "off-the-shelf" IRAs are not). There are a number of major "houses" which provide the technical and legal support for "plug and play" investment arrangements (though, admittedly, there are a few SEC rules which need to be changed to make them really work well). They provide a personal platform through which retirees can consolidate their assets in a way which can better serve their retirement in ways an employer sponsored DC or DB plan cannot.… Continue Reading

Employee Asset Protection and State Auto-IRA Programs

Posted in Auto-IRA, Complex Prohibited Transactions
State based auto-IRA programs continue to pick up steam, and may soon become prominent features of the retirement security landscape. Granted, there are a number of legal and logistical issues which need to be resolved before they can be fully implemented, but things are moving quickly. So it is timely to discuss participant protections under these programs. A successful program must necessarily incorporate ways to protect employee deposits. The holding of employee deposits are not much of a concern, as employee deposits will be held in IRAs protected by highly regulated, commercial custody companies-as in any IRA program. The real challenge will be the protection of employees' payroll based deposits in getting to the IRA. … Continue Reading

State Auto-IRAs and Federal Law: “We’ve already stepped on that rake…..”

Posted in 403(b), Auto-IRA, Automatic Workplace Pension, B/D-IA Issues, Lifetime Income, Retirement Plan Securities Issues, Uncategorized
Chuck Thulin, a fine ERISA attorney from Seattle, WA, chaired the DOL practitioner panel at the latest (and very successful) annual meeting of the 5 regional TE/GE Councils, in Baltimore.  When I commented that we’d  “been there, done that” when discussing some obscure rule,  he told me of reading of the Russian language version of that… Continue Reading
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