Tag: retirement

Prescription for Employee Financial Wellbeing? Start with an FSA or HSA

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, […]

3 Considerations to Make Retirement Packages More Attractive

A few years ago, I was working with a company who offered a lucrative early retirement package. The CEO was shocked when only five of the 80 eligible employees signed up. Why wouldn’t more eligible employees sign up? Money, it turned out, wasn’t an effective motivator for employees who had “enough” money (whatever “enough” happened […]

The “Unretirement” Boom

The phenomenon of “unretirement,” where retirees re-enter the workforce, is gaining momentum. Recent data from Nationwide reveals that one in three current retirees are contemplating a return to work, driven largely by desires for increased social interaction and to alleviate boredom. This trend is reshaping the landscape of employment and prompting a reevaluation of workplace […]

Long-Term, Part-Time Employees Become Eligible to Make 401(k) Deferrals

Effective January 2024, long-term, part-time employees will become eligible to contribute pre-tax earnings to 401(k) plans. Read on to learn more. Facts This is a change from current rules which give employers the option to limit plan participation to employees who have completed a year of service (usually the preceding 12 months), working 1,000 hours […]

Long-term Care Crisis Is Really a Retirement Crisis—and the Stats Back it Up

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 […]

Gen X Not Ready to Leave the Workplace

It’s hard to believe we’re at a point when we’re discussing Generation X’s departure from the workforce! Just a few short decades ago, this cohort represented the newest entrants into the labor force. But the reality is, the oldest members of Gen X—born in 1965—are closing in on 60 years old. Demand for Work/Life Balance […]

One of the Best-Kept Secrets in Benefits: HSAs for Retirement  

According to new data from Conduent, 43% of eligible employees don’t participate in a health savings account (HSA). Fifty-seven percent of those who make an HSA contribution don’t capture the full benefit, with an average contribution of less than $500, well below the annual limit of $3,650 for individuals and $7,300 for families. The underutilization of HSAs […]


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 […]


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 […]