 | HSAs in Retirement PlanningA 2017 report by the Employee Benefits Research Institute (EBRI) said that, last year, a 65-year-old man needed $73,000 in savings and a 65-year-old woman $95,000 for each to have a 50% chance of being able to cover premiums and median prescription drug expenses in retirement. If they wanted a 90% chance of having enough saved, the man would need $131,000 and the woman, $147,000.
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| Sponsors Making Deliberate Enhancements to Retirement Plans | | “Helping employees with their long-term financial security has emerged as a very high priority for employers,” says Tammy Hughes, senior retirement consultant at Willis Towers Watson. “With most employers now offering a DC plan as their primary retirement savings vehicle, they have become very focused on how to improve their plans and deliver better outcomes to participants. The enhancements they are making should go a long way toward encouraging greater participant savings as well as wiser investment decisions.”
Read more > | | | Retirement Plans Give Workers a Sense of Financial Security | | Among those in households with incomes between $70,000 and $150,000, 65% say they feel more secure because of workplace benefits, but this is only true for 42% of those with incomes of less than $45,000. MassMutual says this may indicate a need for more financial education in the workplace.
Read more > | | | Market Mirror | | Yesterday, the Dow climbed 399.28 points (1.58%) to 25,709.27, the NASDAQ closed 84.07 points (1.15%) higher at 7,421.46, and the S&P 500 gained 32.30 points (1.18%) to finish at 2,779.60. The Russell 2000 was up 10.15 points (0.65%) at 1,559.33, and the Wilshire 5000 increased 299.34 points (1.05%) to 28,709.44.
The prices of the 10-year Treasury note and the 30-year Treasury bond each were up 1/32, decreasing their yields to 2.863% and 3.155%, respectively.
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