Retirement Security Matters: April 22, 2021
Can you believe we are well into spring? We hope yours is awesome. In this edition we’ve got some great stuff to spice up your day:
• The inimitable Andrew Remo of the American Retirement Association on getting more employers into the retirement system
• Fresh state stats!
• Action notes from California, Illinois, New Mexico, Oregon, Virginia, Arkansas, Hawaii, Nevada and Rhode Island.
• Grant Boyken on Early Withdrawals and State Programs
• Hot Sauce that is super hot – new research from Mingli Zhong, Amanda Umpierrez, Nancy Altman and Eric Kingson, David Morse and Angela Antonelli, NIRS, and EBRI. Plus some non-pensions stuff to enrich your day!
• And … PIX of the Week. From two countries. Just sayin.
The ARA on Coverage: Let’s Get More Employers into the Retirement System
Andrew Remo has worked for the American Retirement Association’s government affairs department for more than eight years. He advocates before Congress and in the States for policies that achieve the American Retirement Association’s mission to give every working American the ability to have a comfortable retirement. Expanded - may we say more universal - coverage is a priority for the organization. We talk here about what that looks like.
Grant’s Go-To’s: What Should We Make of Early Withdrawal Options in SFRP’s?
Withdrawing funds from a retirement account prior to retirement is generally frowned upon, and with good reason. Withdrawals are a form of “leakage” that not only limit the long-term growth of account funds, but also come with potential tax penalties. State facilitated retirement savings programs use Roth IRAs, which allow for withdrawal of contributions without taxation or penalties - but is this good? Grant Boyken explores.