Retirement

Employers look to add value to retirement plans

12/08/2020

Employers are eyeing a variety of new retirement plan features to enhance employees’ overall financial wellbeing, according to a new survey by Willis Towers Watson.

401(k) balances tripled between 2010 and 2018

10/06/2020

The average 401(k) plan account balance of “consistent participants”—those who remained active in the same 401(k) plans from year-end 2010 through year-end 2018—almost tripled in that period.

Retirement savings: Little effect yet from coronavirus

09/22/2020

The financial havoc created by the coronavirus pandemic has retirement savers worried, but so far most are resisting the temptation to tap into their 401(k)s to make ends meet.

Report addresses when to claim Social Security

09/01/2020

It’s a basic tenet of HR that directly providing financial advice to employees is an ethical no-no. However, there is nothing wrong with steering them toward resources that can help them make good decisions about their money.

Single women worry most about retirement security

07/14/2020

Unmarried women are less confident about their retirement prospects than their married counterparts, according to a new study by the Employee Benefit Research Institute. It turns out, there are good reasons for them to worry.

Retirement savings crunch bringing older workforce

06/16/2020

Expect more of your oldest employees to delay retirement as long as possible. Baby boomers on your staff may be financially unprepared to quit working anytime soon.

Review pension plan for age discrimination

05/07/2020

Here’s a $5.4 million reminder that discriminating on the basis of age when administering employee benefits violates federal law.

Final regs delay health & 401(k) plan deadlines

05/06/2020

Final regulations and a separate disaster relief notice from the Department of Labor set up an outbreak period—running from March 1, 2020, until 60 days after the announced end of the coronavirus national emergency—that plans must ignore for purposes of employees’ health plan elections and 401(k) plans’ responsibility to provide notices to participants.

After epic losses, what should 401(k) investors do?

04/21/2020

The Standard & Poor’s 500 index ended the first quarter down more than 20%, delivering a gut-punch to the more than 1 million Americans whose retirement savings are tied up in defined-contribution plans.

Feeling insecure about the SECURE Act?

04/07/2020

The ink is barely dry on the Setting Every Community Up for Retirement Enhancement Act of 2019—the SECURE Act—which was included in a year-end 2019 appropriations bill. Yet it’s evident the IRS will have its hands full clarifying the law.