Educators who work with a financial professional exhibit more effective financial behaviors over time, have higher mean annual contributions, increase their contributions more frequently, and are more likely to monitor their account performance than those who do not, a survey finds.
Janus Henderson research suggests the vast majority of auto-enrollment programs fund only pre-tax accounts; this is despite the fact that for younger, lower-income employees, funding a Roth account may be a more appropriate long-term option.
Consultants with Findley discussed a game plan for having data, financials and a communications strategy ready before embarking on a DB plan termination.
Willis Towers Watson offers nine actions for DC plan advisers to help their clients mitigate risks in 2019.
Few employers surveyed by the Employee Benefit Research Institute (EBRI) currently consider the financial wellness initiatives as “holistic” programs, and they noted challenges to offering these programs.
Willis Towers Watson offers investment considerations for sponsors of defined benefit plans.
And, only 29% plan to use a health savings account (HSA) to cover medical costs in retirement, HSA Bank found.
Nearly all of those who work with an adviser feel they have prepared themselves well for estimating their monthly income needs in retirement, Voya Financial learned in a survey.
As retirees drawing Social Security income look forward to a modest increase in benefits scheduled for 2019, AARP has published a list of common Social Security misconceptions.
A lot is happening to open the doors for small businesses to offer retirement plans to employees; advisers have new opportunities and challenges as a result.
They can also prompt participants to make other important improvements to their savings strategies, Voya Financial learned.
Monthly expenses are their second concern, The Standard found in a survey.
According to Brian Donohue, with October Three Consulting, the master strategy to get to full-funding-but-no-surplus on termination is to reduce plan risk by gradually changing the plan’s asset strategy as the plan approaches full funding—the “glide path” strategy that some sponsors have adopted.
The report also found a decline in future rates of mortality improvement.
Debt is getting in the way of saving for retirement, and many want help with investing, preferring to work with an adviser in person, a survey found.
This is true for only 43% of all business owners.
Clients with defined benefit plans that are currently enjoying a bump in funded status may want to act soon to lock in those gains while market conditions remain favorable.
There may be more upfront effort with smaller clients, but once they are on board, they take less time, according to Cerulli.
A report from Deloitte explores mechanisms to prevent loan leakage, including policy changes to plan design, loan education programs, debt consolidation, payroll program automation, and 401(k) loan insurance.
This means building trust by underscoring that they are acting in the client’s best interest and also getting to know them personally.