Tag: retirement

401(k)

401(k) Funds Are Being Diverted for Medical Expenses

The short-term financial impact of COVID-19 has been swift and damaging to many Americans. While we can’t yet calculate the long-term impact, early indications present a serious financial strain on future retirees’ retirement. We know that COVID-19 has increased the retirement gap, and new data from Kiplinger show the extent of this impact: 60% of […]

changes

COVID-19 Layoffs Can Cause Partial Retirement Plan Termination

The COVID-19 pandemic has led to “shelter-at-home” proclamations from state and local governments, causing many nonessential businesses to shut down temporarily. Employers have handled the crisis in varying ways, some by temporarily paying employees to stay home, others by laying off or furloughing workers. In such instances, employers need to be aware of the qualified […]

SECURE

What Is the SECURE Act?

If your organization offers any type of retirement benefit, perhaps you’re already familiar with the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. The majority of this legislation went into effect at the beginning of 2020 and made some interesting changes to various retirement plan contribution and withdrawal rules.

retirement

Why Companies Need to Develop Official, Late-Career Tracks for Their Employees

The workplace has been transformed forever by the COVID-19 pandemic. The American workforce has dramatically changed the ways they communicate, accomplish essential tasks, and manage others. Roles once reserved for in-person interaction now require new levels of technology and cooperation. We witnessed a transformation that happened in a matter of months.

Why Senior Employees Aren’t Retiring

More of the workforce remaining for the long haul can be great for the employer. After all, this means more industry and organizational knowledge is kept in-house, customer relationships are continued, and loyal employees stay on, resulting in better retention rates and fewer vacancies.

Infographic: States Leading Employment-Related Regulations Charge

Due to legislative action (or lack thereof) on a federal level, states and local jurisdictions are continuing to advance employment-related laws and regulations intended to protect workers, from offering benefits like healthcare, retirement, and paid leave to policies regarding drug use and sexual harassment prevention.

retirement

Effectively Communicating Your Retirement Plan Message to Employees

Communicating with employees is one of the most important aspects of any workplace retirement plan. A plan may be carefully designed to help participants achieve their retirement objectives, but if the plan sponsor does not effectively communicate the key information, the participants may not have the understanding they need to succeed in reaching their goals.