TRA MAKES NEWS HAPPEN

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  The Pandemic’s Impact on Savings Behaviors: Comparing Past and Present

  January 26, 2021 - One year ago, there was already troubling news about how little Americans had saved for retirement. Then the pandemic descended, multiplying those concerns. Local and national governments attempted to help with the immediate needs of citizens who, on a grand scale, suffered sudden job losses. The CARES Act paved the way for people to take money from a source intended only for retirement; with a... Continue
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  When Times are Tough, Plan Sponsors Look to Consultants for Guidance

  January 19, 2021 - Before the pandemic struck, sponsors of U.S. defined contribution plans were realizing the benefits of calling outside assistance for guidance. Even more seem to  be doing so today. Relying on consultants and financial professionals for the very specialized help they provide can help sponsors weigh options. What’s more, it may provide a level of protection for those with authority over the plan, and may improve... Continue
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  Four Risks Participants May Not Know They’re Facing

  January 12, 2021 - Life involves risk. One of them is retirement, and whether the money we save to fund it will last. Do your employees understand their risk, and actions they can take now to manage it? A recent survey found that retirement security may be threatened by these four risk factors: longevity, behavior, market conditions and inflation. The survey found a disconnect between each of these risks... Continue
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  THRIVING, NOT JUST SURVIVING

  January 6, 2021 - Demand for cash balance plans remained strong during the pandemic. Here’s why. What is a cash balance plan? In this type of defined benefit plan, instead of the typical monthly benefit at retirement provided by a traditional DB plan, a cash balance communicates the benefit as an account balance. It is a DB plan because the participant is always able to convert the account balance... Continue
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  Case of the Week – Coronavirus-Related Distributions and State Tax Withholding

  January 5, 2021 -  By Jenny Kiffmeyer, J.D – The Retirement Learning Center Coronavirus-Related Distributions and State Tax Withholding ERISA consultants at the Retirement Learning Center (RLC) Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings and income plans, including nonqualified plans, stock options, and Social Security and Medicare.  We bring... Continue