Week ending March 20th, 2020

Among the many lessons to be drawn from the past few weeks is the fact that long-term financial ambitions can very quickly come apart in the absence of short-term economic stability. With that simple but important fact in mind, we have collected below a series of articles on the topic of emergency savings, market volatility and financial wellness. We hope some of what you read may be helpful in this challenging time. Stay well!

Editor's choice

Ongoing Volatility Projected by J.P. Morgan’s Guide to Retirement

Retirement investors have little choice but to stay the course; even backing away from the markets for a short period can prove detrimental to long-term returns. Read more >

Finding Real Financial Wellness in the Workplace

Financial wellness programs are most effective when the different points of focus are carefully coordinated—and when employees see that their employers genuinely care about their financial wellbeing. Read more >

Financial Wellness Programs Present an Opportunity for Recordkeepers

Most retirement plan participants rely on their workplace for financial advice. Read more >

Debt Needs to Be Addressed in Financial Wellness Programs

Health, money, work and life all play a critical role in an employee’s total well-being, according to a study from Fidelity Investments, based on responses from more than 9,000 workers and conducted in collaboration with researchers from the Stanford Center on Longevity and Cornell University. Read more >

Debt Causing Financial Vulnerability for Pre-Retirees

Researchers suggest debt management should be a factor in retirement security policy. 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.

Coronavirus Hardship Withdrawals, Taxes and Your Retirement Plan Clients

Coronavirus-related withdrawals made in 2020 were a financial lifeline for some, but they could also turn into a major tax headache for others.

Once They Catch On, PEPs Could Grow Exponentially

The current hesitancy over how they will take shape will be overcome by appreciation among advisers and sponsors alike at the prospect of expanding retirement coverage, sources say.

Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals

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.

Many Near-Retirees Don't Understand Social Security Benefits

More than one-third failed a basic Social Security quiz administered by MassMutual.

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