Debt Inhibits Workers from Saving
Fifty-seven percent of workers would like to make their own financial decisions but have someone validate those decisions, and 31% want specific advice, PwC found.
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Retirement Readiness From a Global Perspective
Advisers across the developed world adhere to similar philosophies and policies when it comes to helping people plan for retirement.
Employers Broadening Well-Being Programs to Encompass Many Aspects of Life
Among those that are now considering physical, social, financial, community and mental health, employee productivity is higher.
Proactive Plan Sponsors Reap Benefits
Plan sponsors that fully automate their plans are more likely than others to believe their workers are on the path towards a financially secure retirement, J.P. Morgan found.
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Newly Allowed 401(k)s Will Need Advisers
Advisers may shy away from helping hemp and CBD companies with their 401(k)s because they may find themselves crossing into advising for a cannabis company as well, but there are protections—and money to be made.
ROI-Positive Financial Wellness Programs Motivate Specific Actions
Education on its own is simply not enough.
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A Crash Course in Social Security Maximization
Cost of living increases, claiming age, marital status and work history all complicate Social Security claiming strategies.
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Nudging Participants to Rebalance Portfolios
For those plans where participants are left to make investment decisions on their own, experts agree, it is critically important for advisers to educate them about the proper diversification.
Advisers Should Include Guaranteed Income in Income Strategy Discussions
A study by Greenwald & Associates and CANNEX shows those close to retirement highly value guaranteed income to supplement Social Security, and suggests advisers consistently underestimate clients’ interest.
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Advisers Can Help Solve the Economics of Aging
The existing retirement system was conceptualized at a time when there were just 15 to 20 people living in retirement for every 100 workers.
Education Can Help ‘Savers’ Feel Confident Like ‘Investors’
Nearly all of those responding to a new Schwab survey say they would feel confident about making the right financial decisions with professional help, yet only half feel their current situation warrants professional advice.
Advisers Increasingly Using Model Portfolios
They see them as a way to offload day-to-day asset management oversight so they can strengthen customer relationships.
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Learning the Medicare Alphabet Is a Must for Modern Advisers
Do you know the difference between Medicare Parts A and B? What About Parts C and D?
Interest Picks Up in Student Loan Repayment Programs
Yet, it’s important to first gauge employees’ interest in such programs, a Willis Towers Watson expert says.
Hardship Withdrawals Spiked, Loans Dipped After Bipartisan Budget Act
The Bipartisan Budget Act of 2018 made it easier for retirement plan participants to access hardship withdrawals without taking loans first; since passage of the law, hardships withdrawals are up 40% in Fidelity’s book of business.
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Advising on Short-Term Goals for the Long-Term Future
How can financial advisers focus on retirement security if many participants are still figuring out shorter-term stability?
SOA Seeks Comments on Newly Proposed Mortality Tables
The SOA says most plan sponsors that update their mortality assumption from the RP-2006 tables to the new tables will experience only a small change in their pension liabilities, usually within plus or minus 1%.
Generation X in Most Precarious Retirement Readiness Situation
Defined contribution (DC) plan design and financial advice can help Generation X, who lacks financial stability and is falling short in retirement savings, improve retirement preparedness.
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ESOPs Can Reduce Wealth Inequality
New research finds offering an employees stock ownership plans (ESOP) is a way to build wealth that can make a tremendous difference in retirement security.
It’s Important to Understand PRT Balance Sheet Hits
Looking at the hits company balance sheets take from a pension risk transfer (PRT) to terminate a defined benefit (DB) plan, may cause plan sponsors to change course.