PLANADVISER Weekend Newsdash
Week ending August 17th, 2018

Happy Friday, readers! This weekend’s mailing focuses on the always timely topic of Client Service. As a defined contribution plan adviser, your specialty is helping individuals accumulate assets for retirement. But increasingly, clients expect help with a broader range of financial planning needs, from mapping future health care costs and understanding health savings accounts to minimizing taxes and planning for a sustainable retirement paycheck through annuitization. Find below a collection of helpful articles on these subjects and more, aimed at helping you take your client service to the next level.

Editor's choice
Health Care Unknowns Have Always Vexed Retirement Planners
A new “Cost of Long-Term Care” analysis published by Moll Law Group underscores the fundamental difficulty of planning for the health care unknowns faced by all retirement savers. Read more >
Helping Employers Sort HSA Facts from Fictions
The health care plan and the health savings account are not the same thing; while the employer has some administrative responsibilities, the HSA belongs wholly to the employee and is portable. Read more >
Participants Speak Clearly About Need for DC Account Income Planning
A new report published by Cerulli Associates draws out participant perspectives on the topic of DC plan decumulation, revealing that many of those leaving the work force feel “generally clueless” about how to manage their nest egg. Read more >
With Litigation Rush, Fiduciary Insurance Adequacy Is Critical
As a result, insurers are scrutinizing potential customers more carefully, asking for extensive documentation and proof of compliance with stated policies. Read more >
Considerations for Helping Terminating and Retiring Participants
“If a plan sponsor can invest in an adviser or other person to provide direction for terminating or retiring employees, that would be extremely helpful,” Terry Dunne, from Millennium Trust Company, told 2018 PLANSPONSOR National Conference attendees. Read more >
Retirement Income Solutions and Strategic Withdrawals
Thomas Dodd, executive director of Pavilion Advisory Group, speaks to the importance of implementing a strategic withdrawal plan once retirees initiate distributions of DC plan assets. Read more >
MOST POPULAR STORIES
Half of Households Likely to Face a Retirement Shortfall

Looking at whether retirees will be able to replace 75% of their final-year earnings, the Center for Retirement Research at Boston College found the number of households at risk of facing a shortfall range from 42% to 60%.

Wells Fargo’s Annual Retirement Study Portrays an Industry in Transition

Executives overseeing the survey report agreed that the U.S. is just beginning to see the real impact of decades of public policy decisions and private employer efforts to fundamentally reshape the retirement landscape.  

Proposed Hardship Withdrawal Amended Regulations Issued by IRS

Under the proposed regulations, 401(k) plan sponsors could choose to make additional accounts available for hardship withdrawals.

Average Age Americans Plan to Retire Is 62

However, only 56% of people have calculated how much income they need to retire, MassMutual learned in a survey.

High-Net-Worth Individuals Would Like to Use RMDs to Offset Taxes

They also say they will not need the money for day-to-day living expenses, Allianz Life found in a survey.

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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