June 10th, 2015

Behavioral Finance Q&A with Shachar Kariv – Part 1 Shachar Kariv is the Benjamin N. Ward Professor of Economics and the Economics Department Chair at U.C. Berkley. Like other thought leaders, Kariv believes behavioral finance is redefining the way people save and invest money, especially for retirement. He speaks with PLANADVISER about current trends in behavioral finance, and what the future may hold for retirement plan participant support products. Read more > Comparing Lifetime Annuities and Structured Withdrawals An academic analysis by Mark Warshawky, of the Mercatus Center at George Mason University, examines two commonly proposed solutions for controlling outflows from defined contribution plans—the purchase of immediate lifetime income annuities and the well-known 4% rule. Read more > IRS Expands Pre-Approved Plans Program In Revenue Procedure 2015-36, the Internal Revenue Service expands its pre-approved plans program to include defined benefit plans with cash balance plan features and defined contribution plans with employee stock ownership plan features. Read more > Workers Value Overall Financial Education While 95% of workers said financial literacy is important, only about one-third feel they are moderately or extremely knowledgeable about financial products and services, a LIMRA study found. Only 28% indicated they are very confident in their abilities to make important financial decisions. Read more > MOST READ ARTICLES

Wells Fargo Data Shows Auto Features Help The number of eligible employees participating in Wells Fargo-administered plans rose 13% between 2011 and 2015. Wells Fargo says the increase in participation correlates to an increase in plan sponsors opting for automatic enrollment of their participants, which now stands at 40% of Wells Fargo-administered plans versus 30% in 2011. Read more > Gen X and Millennials Anticipate a Rocky Retirement A new survey of more than 1,000 Americans with investable assets of $50,000 to $250,000 finds non-retired Generation Xers and Millennials are the most likely to predict financial stress in retirement based on how they’re saving right now, while current retirees say they are not as stressed about finances because of how they saved. Read more > MassMutual Expands MapMyBenefits MapMyBenefits provides each employee with a customized needs analysis and recommendations based on information about his or her personal situation, and then makes suggestions about individual coverage and savings needs. Read more > ProCourse Fiduciary Opens Kentucky Branch The newest office of ProCourse Fiduciary Advisors is in Louisville, Kentucky, and was opened by Kristin Dunlevy. She brings more than 20 years of industry experience through her work for registered investment advisory firms, a certified public accounting firm and actuarial firm. Read more >

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