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Reaching retirement is a bittersweet goal and achievement for many Americans. On the one hand, it represents a well-earned transition to a quieter, more relaxing life after a long career. On the other hand, it represents the loss of some measure of purpose and worth for many. But for a growing number of Americans, retirement […]
With inflation continuing to drive prices upward on a broad range of products and services, financial wellness is top of mind for nearly everyone. According to a recent Bank of America survey, 62% of employees are stressed about their finances and 71% feel the cost of living is outpacing growth in their income. All told, […]
Planning for retirement can be a daunting task, especially with the introduction of new regulations. The SECURE 2.0 Act of 2022, which goes into effect on January 1, 2024, is the latest major overhaul of retirement planning laws in the United States. The Act ultimately focuses on removing barriers to cultivating a healthy nest egg […]
By now you’ve read plenty about the looming care crisis in our country. Advances in modern medicine are resulting in people living longer than ever before. At the same time, the costs of long-term care and access to that care are becoming more restrictive. However, another story that doesn’t get quite as much attention in […]
One of the most talked about HR trends of 2018 is financial wellness. More and more employers are stepping up to help their employees get on the right track to becoming more financially stable. However, a new CareerBuilder survey highlights employees’ concerns over whether or not they have enough saved for retirement, hindering plans to […]
With concerns mounting that employees aren’t saving enough for retirement, U.S. employers are making significant enhancements to their defined contribution (DC) plans, now considered the main retirement savings vehicle for most working Americans, according to a survey by Willis Towers Watson, a global advisory, broking, and solutions company.
The Internal Revenue Service (IRS) gave some larger-asset employer-sponsored retirement plans an unexpected break on Voluntary Correction Program (VCP) user fees in its first Internal Revenue Bulletin (IRB) of 2018, issued January 2.
by Lisa Higgins, Contributing Editor Have you given your employees every opportunity to reach a secure retirement? There is one simple strategy you may not be using that could make a real difference: the Roth account. According to a survey from Willis Towers Watson, Capturing the Opportunity of Roth 401(k) Contributions, What Employees Are Missing […]
by Lisa Higgins, Contributing Editor If you do not already offer automatic enrollment in your defined contribution plan, you might want to consider doing so. Such a move is likely to increase participation in retirement saving and may be particularly beneficial for young workers, an expert says. Here’s why.
by Lisa Higgins, Contributing Editor We know, you’ve heard a lot about the differences between the generations, especially when it comes to work and benefits. What do the Millennials want from their employers? How does that compare to the Baby Boomers’ expectations? And please, just because they’re a smaller group, don’t forget about the Gen […]