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The limit on deferrals to 401(k), 403(b) and most 457 plans has been increased by $500.
The purpose of any such updates would be to increase the effectiveness of tax-favored retirement programs by allowing retirees to retain sufficient retirement savings in these programs for their later years, the IRS says.
It’s not just the financial services industry pushing for passage of the Setting Every Community Up for Retirement Enhancement Act; chambers of commerce, consumer advocacy groups and major U.S. corporations are also voicing support.
Plaintiffs challenge the use of proprietary products in Prudential’s defined contribution retirement plans, an arrangement they say impermissibly benefitted the company at the expense of plan performance.
“Our goal is to provide wealth managers with a secure, data-rich and customizable experience designed to drive client satisfaction and optimize efficiency,” says RedBlack Chief Product Officer and Co-Founder Roel Vlemmings.