In Times of Stress, Timely Communications Make a Big Difference
New data shows the education and guidance firms are providing is helping individuals to stay the course.
Tag: coronavirus
The Future of Emergency Savings Post-COVID
It took a catastrophic global event to demonstrate how ill-prepared many Americans are for even a brief interruption of income—including many people high up on the income scale.
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Lessons from Past Recessions Have Limits
Looking back to the Great Recession and Great Depression, unemployment data shows that the full effect of those downturns took years to play out. Will we now follow the same pattern?
House Passage of Heroes Act Brings Test of Senate’s Stimulus Appetite
The close passage of the Heroes Act in the House of Representatives, with 208 yeas and 199 nays, underscores the difficult path ahead for the fourth coronavirus relief package.
Managers Warn Stocks Could Fall Further
Citing elevated valuations and rising tensions between the U.S. and China, some say a V-shaped recovery is unlikely.
Advisers Giving Back: Atlanta Retirement Partners
As the firm’s founder, David Griffin, explains, retirement plan advisers have a particular skillset that can be very useful in coordinating giving efforts during these unprecedented times.
Politics Aside, Union Pension Funding Crisis Remains Solvable
On its face, the multiemployer pension relief included in House Democrats’ fourth relief proposal resembles a plan floated last year by two influential Republican senators—though the devil is always in the political details.
Recordkeepers Holding Steady on Staffing—So Far
DCIIA and SPARK surveyed members in early April with regard to the CARES Act and the effects of the coronavirus pandemic.
State Tax Treatment May Be Different for CARES Act Provisions
Participant communications about coronavirus-related distributions should include language that state tax treatment may vary, or that participants should check with an expert about what state taxes may apply.
Majority of Americans Are Concerned About Finances
More than one-quarter are extremely or very concerned, according to Fidelity.
Union Pension Partitions Included in Democrat’s 4th Relief Proposal
The draft of the legislation, which will likely be subject to debate and amendment, at this stage includes a number of retirement-focused provisions, including ‘special partition relief’ for struggling union pensions.
Tracking Providers’ Responses to COVID-19
Retirement plan recordkeepers have announced fee cuts, service expansions and more.
Financial Wellness in the Age of Pandemics
Pandemics are not only a public health crisis, but also a crisis of employee confidence. Tech-savvy advisers and employers can help.
The Coronavirus Is Adding to U.S. Economic Inequality
One positive point in some otherwise sobering data is the role that defined contribution (DC) plans play in helping middle class Americans generate a stable financial future.
Be Stronger in the Recovery
Todd Kading, president and co-founder of LeafHouse Financial, discusses the importance of flexibility and innovation when the tough times arrive.
IRS Answers Questions About CARES Act Provisions
The agency says future guidance will be like that under the Katrina Emergency Tax Relief Act of 2005 (KETRA) to the extent the provisions of Section 2202 of the CARES Act are substantially similar to the provisions of KETRA that are addressed in that notice.
The Standard Offers a Way to Give Back by Scheduling Adviser Call
In addition, it is waiving distribution and loan origination fees for COVID-19-affected participants and CARES Act-related plan amendment fees for employers through August.
QDIAs Have Evolved. They Will Again After the Coronavirus.
Many participants appear to be battled hardened from the Great Recession and are enjoying at least some measure of protection from well-diversified default portfolios.
Planning for Clients’ Health Care Expenses in Event of a Layoff
Mark Waterstraat, president of consumer solutions at Alegeus, offers simple steps to coach clients through managing their health care finances after a layoff. For example, did you know that individuals can use HSA funds to pay COBRA premiums tax-free?
Interest Rate Risk Comes to the Fore
It has never been more expensive to fund a stream of guaranteed retirement income, nor have individuals been so in need of guarantees generated outside of large collective pensions.