PLANADVISER’s Practice Progress monthly webinar series is designed to help advisers tackle the ongoing challenges of managing their practices, with the goal of improving outcomes for team members, plan sponsor clients and participants alike. Each month, the editors of PLANADVISER will bring together trusted industry experts to discuss practice management, client service, compliance, investments and much more. Join us as we help you move your practice forward.
Defined contribution plan sponsors and retirement plan advisors are becoming increasingly aware of Retirement Managed Accounts and the potential benefits they could deliver to participants. Intrigued by the upside, but hindered by “new and different,” sponsors and advisors need guidance on what to do next.
Over 44 million Americans are struggling to pay off $1.5 Trillion in student debt, and it’s a good bet your employees are among them. The need for a student loan benefit is growing – it’s currently one of the highest sought-after benefits by employees. Now you can help your employees manage, pay down, and minimize their student debt, and gain a powerful advantage in recruiting and retaining top talent.
How much do participants think they need saved for retirement? What kind of benefits do they expect from their plan? Watch our webinar to gain firsthand knowledge of 401(k) participant sentiments from Schwab Retirement Plan Services, Inc.
Forging a path of least resistance to plan participant success remains at the center of a plan sponsor’s fiduciary responsibility. Plan advisors play a major role in designing plan features and investments to help meet that responsibility. While automated plan features are a start, they are not enough—it takes creative participant education and motivation as well.
In the universe of retirement options, there are a lot of bright stars—401(k)s, IRAs, Roth 401(k)s, and more. And while each of these plans offers its own distinct advantages, shining among them in the retirement stratosphere is the often-overlooked HSA (health savings account). HSAs have gained tremendous popularity thanks to their ability to create peace of mind today, while generating income for the future.
It’s no secret that employees need more help reaching their retirement goals. Even though investors may have access to more information than ever before, quality advice, especially around retirement, is still out of reach for many. In response, many employers have made online advice tools, such as managed accounts, increasingly available to employees in 401(k) plans. Managed accounts and other online advice tools can help guide employees on how much save, how to invest their savings, and when to retire. But what impact, if any, do these programs have on saving and investing behavior? And what learnings can employers leverage to design a plan that helps employees meet their retirement goals?