When they leave the workforce, Generation X may be in a similar, not worse, retirement situation than baby boomers given their access to automatic enrollment in defined contribution plans and the growth of their future plan contributions, according to the Employee Benefit Research Institute.
The U.S. Securities and Exchange Commission recently adopted amendments to the rules that govern money market mutual funds. Two of the changes could affect how you manage your 401(k) plan.
Commentary: On July 4, 2014, the trustees of the BT Pension Scheme in the U.K. announced a record-breaking longevity risk transfer transaction that will provide long-term protection and income to the pension scheme in the event that members live longer than expected.
Globally, defined-benefit retirement plans are becoming a thing of the past and defined-contribution plans more widely accepted as the preferred alternative, a trend that could spur inquiries from international employer clients.
Withdrawal liability is a seldom understood threat that could cost some of your employer clients tens of millions of dollars. Benefit advisers hoping to soften the blow can direct employers to do three things.
Many companies have frozen their defined benefit plans to new hires. Others have abandoned their pensions in favor of a 401(k) or other defined contribution plan. But not everyone is happy with DC plans because they often leave participants to fend for themselves when most have never had to make investment decisions.
Employers focused on Obamacare may be missing one of todays most important compliance issues: benefits for same-sex married couples. Since June 2013, when the United States Supreme Court ruled in U.S. v. Windsor that a federal statute limiting the terms spouse and marriage to couples of the opposite sex was unconstitutional, a sea-change has taken place in national attitudes about same-sex marriage.
As people live longer and healthier lives, theyll continue to find satisfaction from work even after they retire from their primary career. Employers wanting to tap into this new workforce and retain older workers can do so through offering benefits such as sabbaticals, mentoring opportunities and flex time, says Ken Dychwald, Ph.D., founding president and CEO of Age Wave, a research company. Here are four myths employers can help debunk for employees uncertain about retirement.
Social Security will still be around when your employees retire, it just might look a little different. Here are five changes to expect in the coming years.
Even if they began saving late or have yet to begin, it's important for your plan participants to know they are not alone, and there are steps they can take to kick-start their retirement plan. Merrill Lynch has provided the following tips to help boost their savings - no matter what their stage of life - and pursue the retirement they envision.
While pension cash outs for former employees are sometimes attractive to employers, several common concerns otherwise deter them from the option.
One recent court case suggests your employer clients should consider including disclaimers in benefit notices to protect against changes in retirement plan payouts.
A handful of letters from trade groups and the Chamber of Commerce reject as premature and imprudent the DOLs proposal to require retirement plan service providers supply guides to fee disclosures.
American workers are increasingly satisfied with their retirement plans and interested in investing in them, a trend advisers and employers use in their favor.
Because alternative investments, such as private equity, hedge funds and real assets, are typically accessed though a limited partnership structure, retirement plan fiduciaries are charged with more extensive due diligence as compared to monitoring daily valued mutual funds or separate accounts.