In a new Bank of America Merrill Lynch survey, 95% of employers who offer such benefits agree that their financial wellness programs have been effective at promoting work force management goals.
“ERISA’s limitations on who employers can exclude from ERISA plans are very narrow,” the decision states. “The law prohibits an employer from denying participation in an ERISA plan on the basis of age or length of service. Other than that, any bases for exclusion from a plan are permissible.”
Employees of small businesses with retirement plans that include automatic enrollment have far higher participation rates across all demographic variables, according to new data shared by Vanguard.
According to state authorities, the combined savings of the first groups of participating savers is approaching $5 million.
There is more emphasis than ever before in the DC plan space on identifying the best way to offer a benefit that is not just a to-retirement program, but also a through-retirement program.
In a frank conversation with PLANADVISER, Andrew Biggs points to some common misconceptions about retirement income replacement among lower income groups.
Take a couple that is healthy and retiring today at age 65; the probability of at least one member of this couple living to age 75 is 97%, and to 90, nearly 50%.
The percentage of people who contributed to their Fidelity IRA in Q1 2018 increased 14% over a year ago; among Millennials, IRA contributions increased even more.
A new analysis from Charles Schwab shows those with a written financial plan are much more likely to have a higher overall Modern Wealth Index score, be regular savers, and effectively manage their debt.
Chris Barlow, national director of defined contribution investments for BMO GAM, riffs on the results of a new “DC Conversations” industry assessment; among the top findings is a downward trend in deferral rates across all sectors since 2010.
While not a traditional topic for retirement specialist advisers to speak about, experts agree that student loan repayment benefits are a powerful boon to financial wellness programming—and a topic that financial advisers should learn more about.
In a wide-ranging interview with PLANADVISER, DCIIA leaders Lew Minsky and Peg Knox outline their lead policy priorities for the remainder of 2018, including a focused push around “open MEPs.”
A new analysis published by MetLife examines employers’ and employees’ attitudes towards automation and its role in the workplace—including how changes in technology could impact compensation and the basic definition of what it means to work.
The Wells Fargo/Gallup Investor and Retirement Optimism Index remains at a 17-year high, despite a clear uptick in volatility, with the index at +139 in the first quarter; the firm’s head of retirement dissects the findings for PLANADVISER readers.
A new analysis out from Empower Retirement finds historical investment performance does not serve as an optimal overall measure of value delivered by a managed account; there is strong evidence to suggest “engaged participants” extract more value from managed accounts.
Health savings accounts are often described as the 401(k) of health care—so it is only natural that retirement specialist advisers can play an important role in educating the public about these important savings vehicles; survey data shows more education and advice is desperately needed.
The firm says it does not have additional information to share at this juncture beyond what has been noted in a 2017 year-end SEC filing; in that newly emerged document, Wells Fargo Advisors says it has begun an internal investigation into “whether there have been inappropriate referrals or recommendations” made by its advisors, including with respect to rollovers for 401(k) plan participants.