Client Service

Yet, it’s important to first gauge employees’ interest in such programs, a Willis Towers Watson expert says.

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.

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%.

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.

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.

Advisers can play a role by encouraging actions by plan sponsors and participants.

Novice investors’ reactions to stock market volatility present an endless and intriguing field of study for behavioral economists, but for financial advisers, poor client decisionmaking is a serious issue.

The Bank of Mom and Dad is playing a major role in the U.S. housing market, according to Legal & General Group, putting some parents' retirements at risk.

The American Institute of Certified Public Accountants issued a plan advisory that reminds plan sponsors of ERISA record retention rules and also offers best practices for protecting personal information.

MassMutual says a married couple that lives into their 90s but decides to begin their Social Security benefits at age 62 as opposed to age 70 could be leaving as much as half a million dollars on the table, or forfeiting $2,000 to $4,000 a month for life.

Experts say gig workers have little access to workplace retirement savings plans and the opinion letter will only discourage employers from offering them such plans, but they do have other options that advisers can educate them about.

While more than half view retirement benefits as a “must have,” they are unprepared to make selections and could use the help of an adviser, Lincoln Financial Group says.

The day will be highlighted with a live stream webinar from an adviser yet to be determined, who will speak on the benefits of health savings accounts (HSAs), not just for health care costs but for income in retirement, according to WEX Health.

Overall, gig workers report more difficulty with nearly all financial tasks, a Hearts & Wallets survey found.

In a report, Cerulli Associates makes suggestions for actions defined benefit (DB) plan asset managers can take to help plan sponsor clients manage market volatility.

Mike Sasso, with Portfolio Evaluations, and a professor at Boston University,  explained a new way of thinking to get plan sponsors to focus on retirement income for participants.