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Wednesday, July 28th, 2021
A biweekly topical newsletter from PLANADVISER
Financial Wellness
Participants have many financial needs—meeting everyday expenses, paying off debt, saving for emergencies, paying for health care and saving for retirement—but there’s only so much money to go around. How do participants decide where to allocate their income while balancing short-term and long-term priorities? As explored in the following collection of articles, a well-crafted financial wellness program may be the answer.
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Gen X Participants Are Even More ‘Sandwiched’ After COVID-19
Gen X is the now firmly the “sandwich generation,” says Edward Chairvolotti, CEO of Chairvolotti Financial in Winter Park, Florida. “They are taking care of their children and, in many cases, their parents. Life is busy for them, and it is unfortunate that many incorrectly view retirement as being in the far future.”
Client Service
Financial Wellness Is Really About Financial Priorities
Retirement industry researchers say the pandemic will have a lasting impact on the way people rank and pursue their financial priorities, influencing their vision of ‘financial wellness’ and redefining what success with money really means.
SPONSORED BY: Fidelity Investments
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Investing With HSAs
Most Americans know that medical care is expensive; 80% of respondents to a recent RBC Wealth Management survey reported being worried about how they will finance those costs in retirement.
Data & Research
The Case for ‘Health Plus Wealth’ Is in the Numbers
The projected cost of health care for the average couple retiring today is up 30% from 10 years ago, according to new data shared by Fidelity, underscoring the need to muster more holistic financial planning resources for workers and retirees.
Client Service
The Inner Workings of HSAs
Speakers at the virtual PLANSPONSOR 2021 HSA Conference touted the benefits of health savings accounts and explained what HSA rules plan sponsors should know.
Compliance
Women’s Retirement Protection Act Reintroduced in Congress
Democratic lawmakers in the House and Senate say the bill is needed to help address longstanding retirement insecurity issues—and to address some of the negative impacts of the pandemic.
Compliance
Public Student Loan Forgiveness Program Available to More Employees
Nonprofits that are affiliated with religious organizations should be informed of new regulations.
Data & Research
Addressing Millennials' Debt vs. Saving Dilemma
A number of Millennials are misinformed about when to save and invest for retirement, and they need plan sponsor help with student loan debt.
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