…older have sacrificed “a lot,” and 34 percent said they have “somewhat” sacrificed, their own retirement security in order to help support their adult offspring. The survey sought to determine trends in financial independence by examining at what average age its respondents believed that individuals…
Now that we seem to be emerging from the COVID-19 crisis – emphasis on “seem” – it is time for the retirement savings industry to begin the long process of assessing where things stand. According to a new consumer survey, things are standing a little…
…Senate still undecided) were just a handful of the stories that made headlines this year. And there were plenty of significant developments for the retirement industry as well – many of them, of course, tied to the pandemic. Here is a look back at a…
…DOL follow through, it will finally address a longstanding issue; remember, the GAO’s survey took place over four years ago. Of course, the federal government can move in mysterious ways. But here’s hoping that annual lifetime income disclosures become an industry-wide norm sooner than later….
…employer-sponsored money purchase plans are included in those retirement plans that qualify for the temporary rules enacted under the CARES Act, which allow individuals to make penalty-free withdrawals from certain retirement plans for coronavirus-related expenses. Such plans cover less than one-fifth of private industry workers,…
…pricing for administration and investment services, plus have simplified reporting. While the industry received some information on GoPs in the Department of Labor’s (DOL) proposed Form 5500 changes released in September 2021, more was anticipated in the DOL’s final Form 5500 regulations and news release…
Although the worst of the pandemic is hopefully behind us, the lifestyle disruption it caused has created a monumental shift in how people work. This disruption has affected nearly every industry and has caused many individuals to take a step back and reevaluate what their…
…Millennials would have it – the earlier the better. With the Covid-19 pandemic hopefully (finally) receding, it is time to reconsider putting away (more) money for retirement. Consulting a trusted industry professional is, as it always has been, a highly effective method of doing so….
This is a potentially exciting time for our industry, as several bills wending their respective ways through Congress may have far-ranging impacts on how people save for retirement – and how the government can help them. Of course, partisanship and the ever-present trouble with prioritizing…
…retirement income it will come from. This is what the industry calls “decumulation,” or the process of distributing the savings you have spent your lifetime accumulating. How you spend your savings is as important as how you accumulated them. Many of the same factors that…
…during retirement. The estimate would be included on participants’ annual plan statements. What are the chances of RESA being passed this time around, as opposed to when it first surfaced in 2016? Pretty good, from what we hear from industry insiders. Such groups as the…
…a number of ways. Small local businesses can join together in order to offer retirement plans for their workers, in what is known in the industry as a MEP (Multiple Employer Plan) – something that can save time and money for the company while benefiting…