A MassMutual study finds Asian Americans are more thoughtful retirement investors than other demographics, but they lack education about how long they will need to make their savings last and the timing of claiming Social Security.
Three-quarters of advisers believe they understand annuities well, yet of that number, 62% say their clients do not.
Approximately 41,000 FedEx retirees and beneficiaries in defined benefit pension plans will receive annuity benefits.
Data provided by CommonBond shows that workers in the technology and retail industries are most straddled with student loan debt; even workers in industries less impacted by student debt say they believe employers should help.
Looking across today’s DC plan marketplace, researchers suggest it is still much more common to see plan designs that are tailored to drive retired or terminated participants out of the plan.
“This study shows that for financial firms who want to improve retirement savings outcomes must evolve their role from just account providers to trusted partners that people can turn to for help on holistic financial wellness,” NARPP says.
A plan auditor speaking at the Plan Sponsor Council of America (PSCA) 71st Annual National Conference suggested internal controls plan sponsors should have in place for eligibility, compensation, and contributions and loans.
Brodie Wood, SVP of healthcare, education and not-for-profit markets at Transamerica Retirement Solutions, discussed the efficiencies and benefits a closed MEP can offer not-for-profit 403(b) plans.
The news comes as a large number of ERISA lawsuits are playing out in the district and appellate courts across the U.S., testing whether 403(b) plan sponsors of major universities have sufficiently exercised their bargaining power or allowed inefficient recordkeeping arrangements to persist over long periods of time.
While not a traditional topic for retirement specialist advisers to speak about, experts agree that student loan repayment benefits are a powerful boon to financial wellness programming—and a topic that financial advisers should learn more about.
During a media call about the Employee Benefit Research Institute's latest Retirement Confidence Survey, sources shared ways retirement plan sponsors and advisers can help retirement savers feel more confident.
An analysis from the American Institute of CPAs shows how clients can use their recently filed tax returns to map out a more efficient budget and investing plan for 2018.
This is down from three-quarters last year, a PIMCO survey found
In a wide-ranging interview with PLANADVISER, DCIIA leaders Lew Minsky and Peg Knox outline their lead policy priorities for the remainder of 2018, including a focused push around “open MEPs.”
A study finds most corporate pensions are winding down, while public defined benefit plans are trying to get stronger—paths that will require some common and some different strategies.
The newly created multiple employer plan (MEP) will help plan sponsors reduce their administrative burdens.
Advisers are using new planning models and smarter technology, including automation, so that they can offer personalized service, SEI finds.
Latino women admitted that they did not know enough about retirement planning and wanted to learn more, a study found.
Workers surveyed said help with student loan debt and more financial education would help them achieve their financial goals.
Military members using an adviser report contributing nearly double the amount to their retirement accounts on average compared with those lacking regular financial guidance.