A new analysis from Pershing argues that, while difficult to start, conversations about aging and passing on wealth can be very fruitful for improving client trust and long-term outcomes.
“Employers and their advisers stand to benefit from making it easy and convenient for these young adults to save and espouse constructive financial habits at a critical time in their lives,” EACH Enterprise says.
Nomination forms for the 2018 PLANSPONSOR Retirement Plan Adviser of the Year and Plan Sponsor of the Year Awards are now available.
New research from Fidelity warns that plan sponsors’ increasing focus on health care is cutting back the amount of money and time they have to devote to retirement benefits; satisfaction with advisers is also up.
J.P. Morgan researchers offer an advanced look at a case study analysis suggesting a new approach to conducting adviser-supported recordkeeping RFPs.
Putting more into pensions cuts into plan sponsors' operating cash, which should be considered for their DB funding and investment strategies.
Providers are redesigning benefits programs to focus on health, financial wellness, job satisfaction and productivity.
Overall DB plan costs, costs from changing mortality assumptions and PBGC premium hikes are all factors plan sponsors take into consideration when deciding whether to implement a pension risk transfer.
Whether saving in a 401(k) or not, the majority of survey respondents say their investment confidence would grow dramatically with the help of a financial professional.
More than half of employers recently surveyed by Transamerica offer a Roth 401(k).
This is according to a survey by the Committee on Investment of Employee Benefit Assets Inc. of its members.
Some providers train call center staff to educate participants about the implications of taking a hardship and other options.
Advisers can help retirement plan sponsors design their plans and financial wellness programs to get participants to defer enough to receive the company's matching contribution.
Tell them about how they are putting their retirement at a disadvantage, one expert recommends.
PwC finds some DB plan sponsors are using multiple discount rates, and some have moved to mark-to-market accounting.
While most employers outsource administration of frozen and closed DB plans, others team with consultants to set goals, tame plan data and answer questions concerning benefit accruals.
They allow the plan to give higher contributions to the owners.
Robust plan design, education and the use of digital tools can increase employee engagement with their retirement plans, the firm's Plan Wellness Scorecard shows.
The organization has issued a report analyzing what is working in DC plans and how the existing tools can be leveraged further.
Some advisers say retirement plan fees can be reduced by as much as 50%.