PLANADVISER Weekend Newsdash
Week ending February 21st, 2020

Happy Friday, readers! This weekend’s mailing is centered on the timely topic of emergency savings and holistic financial wellness. Skilled retirement plan advisers know that long-term financial success begins with short-term economic stability. Armed with such knowledge, some advisers and their plan sponsor clients are pushing into the areas of emergency savings accounts, debt counseling, tax-advantaged health care savings and more. Collected below is a series of informative articles on these topics. We hope you will share some of what you read with a client or colleague.

Editor's choice
The Case for Automated Emergency Savings Accounts
They are seen as a hedge against retirement plan participants taking loans or hardship withdrawals. Read more >
The Price Tag of Financial Stress
Employers are accustomed to having five generations in the workforce, but they now need to focus on the new expectations Gen Z brings to the workplace, Fidelity says. Read more >
Record Low Unemployment Spotlights Benefits Generosity
Generous and well-designed employee benefits are even more essential when the unemployment rate dips well below 4%—and so is cultivating a sense of trust and inclusion among the workforce. Read more >
The Way to Help Individuals Plan for Retirement Health Costs
Start by presenting health care expenses rationally, as a combination of predictable monthly expenses (insurance premiums) that can be budgeted for, and less predictable expenses (out-of-pocket) that can be managed from savings, a report from T. Rowe Price suggests. Read more >
Limited 529 Plan Knowledge Holds Savers (and Advisers) Back
Educating people about the plans is important, as a recent Edward Jones survey found that only 29% of Americans know what the purpose of these plans are. Read more >
The Positive Impact of Claiming Social Security Later
The Center for Retirement Research says the reduction for claiming early is currently too large while the increase for claiming late is about right. Read more >
MOST POPULAR STORIES
Dissecting TIAA Subsidiary’s $97 Million SEC Rollover Settlement

A subsidiary of TIAA will settle conflict of interest charges related to the provision of rollover advice to employer-sponsored retirement plan participants; the development offers up some important considerations for financial services professionals.

Empower to Acquire Full-Service Retirement Business of Prudential

Empower will acquire Prudential’s DC, DB, non-qualified and rollover IRA business, in addition to its stable value and separate account investment products and platforms.

With Prudential Acquisition, Empower Aims for Growth Up to 3x Faster Than Other Recordkeepers

The CEO of the nation’s No. 2 recordkeeper says Empower’s focus will continue to be on a best-in-class user experience.

Talking Scale With Voya, Sterling Resources Leaders

Over the past decade, the universe of retirement plan recordkeepers has contracted from about 400 to approximately 150, with no signs of slowing. Experts say one lesson learned in this time is that not all scale is created equal.

ProNvest Launches Fintech Platform

It can cull data for advisers, banks, credit unions, insurance firms and other institutions to give an overview of a person’s defined contribution plan holdings.

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