PLANADVISER Weekend Newsdash
Week ending May 25th, 2018

Happy Friday, readers! One of the most common themes that comes up in retirement planning research is the fear that Americans have about meeting their health care expenses once they have exited the work force. We have all heard the estimates from Fidelity that the typical couple retiring today will need nearly $300,000 to cover just their future health care expenses alone. These figures are clearly daunting, but other research shows that, through smart long-term savings strategies and with the support of an informed adviser, Americans can meet these health care costs without sacrificing their quality of life.

Health Care and Other Benefits
Adviser Opportunities Abound in HSA Market
Devenir finds HSA assets grew to an estimated $45.2 billion, spread across some 22 million accounts, at the end of 2017; as more account owners are investing their HSA dollars, the demand for advice is clear.  Read more >
Equity Compensation Plan Participants Want Advice
Among those who have never exercised or sold their equity compensation or ESPP, 34% admit to being worried about selling under the wrong market conditions and 34% say they are afraid of potential tax implications of making a wrong decision. Read more >
Employers Likely to Ramp Up Student Loan Repayment Benefits
While not a traditional topic for retirement specialist advisers to speak about, experts agree that student loan repayment benefits are a powerful boon to financial wellness programming—and a topic that financial advisers should learn more about.  Read more >
A Couple Retiring This Year Will Need $280K for Health Care
A 65-year-old couple retiring this year will need $280,000 to cover health care and medical expenses throughout their retirement, according to Fidelity Investments. This is a 2% increase from 2017—and a 75% increase from Fidelity’s first estimate in 2002. Read more >
Americans’ Lack of Social Security Knowledge Shows
Tina Ambrozy, president of sales and distribution at Nationwide, warns of a major disconnect between what consumers think their Social Security benefit will be—and what this amount will cover—compared to reality. Read more >
MOST POPULAR STORIES
Stimulus Bill Extends Some Provisions of the CARES Act

It also provides a way for retirement plan sponsors to avoid a partial plan termination.

Practice Management: Areas of Success

A look at what worked particularly well in 2020 and that could keep propelling growth in 2021.

Missing Participant Guidance Released by DOL

The guidance includes best practices for locating missing participants in addition to best practices for documenting efforts to do so.

Vail Resorts Wins Dismissal of ERISA Fiduciary Breach Lawsuit

The Vail Corp. has skied past a fiduciary breach lawsuit, which was dismissed with prejudice in a detailed ruling.

401(k) Plan Administrator Sues VALIC Over Surrender Fees Charged to Plan

The insurer is charged with engaging in a prohibited transaction under ERISA when the fees were charged during a move to a new provider, as well as with self-dealing.

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