Employee Benefit News

Discover the Bottom Line Benefits of Financial Education

When employees lack the confidence to make decisions about their long-term financial goals, the uncertainty can affect their productivity and morale. Attend a free, informational webinar to find out how the Financial Fitness Challenge (FFC) program can help boost your bottom line.

What you'll learn at this webinar:

• How the program increases 401(k) plan participation by up to 40%
• How the unbiased, online training program helps you meet ERISA 404(c) requirements
• How employee financial knowledge (or lack of it) impacts your bottom line
• And much more.

The turnkey, online financial education training program has been used in more than 200+ organizations - come and hear why 91% of program participants recommend the training to family and friends.

Discover the bottom line benefits of financial education.

Introducing the Financial Fitness Challenge, an unbiased retirement education program for employees.

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Open architecture offers flexibility

With tuition costs on the rise, employees looking for ways to pay for their children's college education can save with 529 plans, a tax-advantaged savings plan that encourages parents or guardians to save for a child's college education. Phil Chandler, a financial adviser for Edward Jones, says the tax-free gains feature is the primary driving force behind the popularity of 529s. Previous products did not allow this aspect to be used for higher education.

Multiemployer plans can address retirement security

Financial security in retirement is one of our nation's cornerstone principles when it comes to the way of life we have come to envision after a lifetime of hard work, dedication and sacrifice. Originally, the underpinning of that retirement security for those in the private sector was to come from Social Security enhanced by private pensions and personal savings. Unfortunately, for many of us, the demise of most employer-funded primary pension plans and inadequate personal savings has shifted the role of Social Security from being a safety net of supplemental income to being the primary, and sometimes only, source of retirement cash flow.

U.S. retirement market projected to hit $22 trillion by 2016

The U.S. retirement market is projected to grow to nearly $22 trillion by 2016. That represents a 38% increase from an estimated $16 trillion mark for the end of 2011, due mostly to continuing market recovery, according to data released Monday by Cerulli Associates, a Boston-based research firm.

Boomers consider cashing-in life insurance to fund retirement

Baby boomers appear to be taking a second look at their life insurance policies as an alternative financial solution to paying for retirement, where they sell an unneeded life insurance policy for a portion of the face amount. These transactions, known as life settlements, have become a mainstream practice in the past several years, particularly as baby boomers begin exploring all financial options to paying for retirement, including previously unconventional alternatives.

Men and women approach retirement planning differently

Men and women are preparing for retirement in very different ways, according to findings from Ameriprise Financial. While men outpace women in planning for the financial aspects of retirement (77% vs. 72%), women are more likely to say they've thought about what they'd like to do during retirement. And though a mere 22% of Americans report confidence in reaching their retirement goals, men are significantly more likely than women to report this sentiment (25% vs. 19%).

American commitment to retirement remains with the 401(k)

Despite flat stock market returns in 2011, investors haven't lost faith in their workplace retirement plans, according to two studies released on Tuesday by the Investment Company Institute.

To maximize retirement benefits, know the rules

When the oldest baby boomers start turning 66 this year, they'll be eligible to file for full Social Security benefits. But pollsters say many Americans plan to work well past that age, reflecting tough economic times and a general desire to reshape the idea of retirement.

U.S. workers’ financial situation and confidence in retirement security improve

U.S. employees’ confidence in their ability to retire comfortably continued to rebound last year. However, despite growing satisfaction with their financial situation and fewer employees reporting significant declines in retirement savings, many employees remain concerned and are taking steps to get their financial houses in order, according to a new survey by Towers Watson.

Three in four women small business owners predict more tough times in 2012

A new Nationwide Financial study shows three-quarters (74%) of women small business owners expect their business to be negatively impacted in 2012 by the economy. Just one in five (22%) think the state of the economy will improve and one third (34%) expect their sales and revenue to decline.

401(k) contribution limits rise for 2012

The New Year is a good time to communicate to employees that the maximum annual participant contribution to 401(k) plans has increased, says one retirement plan expert.

Women seek women when it comes to business

Birds of a feather flock together, and it seems the saying also rings true for small business owners looking for a financial advisor. According to a new study released yesterday by The American College, small business owners prefer to speak to financial advisors of the same sex, with men exhibiting a stronger gender bias than their female counterparts.

Retirement pros have questions for candidates

The Republican Party has staged a mind-numbing 18 presidential debates this year, and more questions and answers lie ahead as the primaries and general election get into high gear in the new year.

Retirement savings, by the numbers

As someone who has reviewed hundreds of retirement-related studies, I admit to being quite jaded with respect to retirement statistics: Various versions of "people are not saving enough", with no one telling me what I do not already know. However, I have to admit these figures - excerpted from pbs.org - caught even me off guard. See if you are as shocked as I was by these five statistics:

Younger generations — X and Y — saving more diligently than elders

For once, it’s the whippersnappers who are behaving more wisely. At least when it comes to saving, Generation X and Generation Y workers are more diligent than their peers.