Happy Friday, readers. Below you will find a helpful series of articles and research reports seeking to link the challenges and opportunities of health care and retirement planning. In particular, we present ample evidence that health savings accounts are ripe for growth—and they represent an important opportunity for advisers and their clients to be better prepared for the long-term future. We hope you will share some of what you learn with a colleague.
The health care cost inflation projections contained in HealthView Services’ latest reporting are simply astounding; accounting for projected lifetime inflation, a healthy retired couple at 65 can expect $600,000 in health-related expenses alone.
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New research from Fidelity warns that plan sponsors’ increasing focus on health care is cutting back the amount of money and time they have to devote to retirement benefits; satisfaction with advisers is also up.
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Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
The ‘carve-out’ acquisition brings CAPTRUST’s assets under advisement to $400 billion and represents the continuation of an important retirement plan industry trend involving large, diversified financial services firms.