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401k Education

On January 30, the final rule titled “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights”—a.k.a. the “ESG rule”—became effective. American Retirement Association CEO Brian Graff recently sat down with the Employee Benefits Security Administration’s Tim Hauser to... READ MORE
The Plan Sponsor Council of America (PSCA) has released a new campaign to help American workers better understand their retirement plan and retirement readiness by “Knowing Your Numbers.”  The Friday after Labor Day has been designated 401(k) Day—a day to focus on retirement planning and... READ MORE
The discussion of companies as “paternalistic” has been broached, in the context of challenging the notion that, to some extent, companies are or should be paternalistic.  For example, in a recent Nevin and Fred podcast, Fred Reish told the story of explaining to his young daughter what a plan... READ MORE
Last year, more workers took advantage of the convenience of virtual and on-demand 401(k) educational sessions, and it appears this trend will continue even as workplaces move back to in-person work.   According to data from Schwab Retirement Plan Services, participant viewership for virtual live... READ MORE
At the recent Plan Sponsor Council of America National Conference, Erin Lowry, author of the Broke Millennial book series, offered insights on better communication with younger workers. At the outset, Lowry took pains to distinguish the tensions that currently exist between Millennials and the... READ MORE
April is, of course, National Financial Literacy Month—and for as long as I can remember, the retirement industry has been talking about the need for some kind of personal finance education in public schools—there’s just one problem. First off, there actually are such programs already in existence... READ MORE
After several years of record-breaking plan and participant outcomes, 2018’s market turbulence appears to have contributed to an increase in troubling participant behavior.  T. Rowe Price’s “Reference Point” reveals that 401(k) pretax deferral rates continued to rise in 2018, increasing to 8.6% on... READ MORE
ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts and events. Live Webcasts ASPPA Webcast: IRS Audits and DOL Investigations of Plans and TPAs Tuesday, April 23, 2019 2:00–3:40 p.m. ET Speaker: Fred Reish, APM,... READ MORE
New survey results show that a significant majority of 401(k) consultants support additional services in DC plans.Nearly two-thirds (64%) of survey respondents said they believe plans should offer a “separate retirement income tier,” which may include retiree-focused services and products,... READ MORE
Poor savings rates, high debt levels, the frequent incidence of living paycheck to paycheck — all are among the ingredients in the recipe for financial stress. Financial education can be an antidote, but not in the traditional ways it is provided, suggests a recent study. In “So Many Courses, So... READ MORE
Despite the importance of educating 401(k) plan participants to prepare for their retirement by investing well, most programs that purport to do that fail in the attempt, says a recent blog entry.In “The Confident Participant: How To Create An Effective 401k Education Program,” a Penchecks Blog... READ MORE
There is a sizable number of pre-retirees and retirees who do not enlist the assistance of a professional when devising a financial plan for their retirement, according to a recent study. It also takes a look at how they do in the effort.The study, by the LIMRA Secure Retirement Institute, found... READ MORE
*/ Planning for retirement can be confusing — sometimes to such a degree that it is debilitating, argues industry insider Christopher Carosa.In “The Five Killer Concepts that Most Confuse Retirement Savers,” a recent post on FiduciaryNews, Carosa offers insights into the factors that create the... READ MORE
Grasping the importance of preparing for retirement does not necessarily translate to action to bring it about, says a recent study on Americans’ financial beliefs and behavior.There is good news, says the survey commissioned by Fifth Third Bank on those beliefs and whether Americans are acting on... READ MORE
Are we approaching a tipping point in the effort to foster active interest in financial wellness — and in the process, improving prospects for financial readiness for retirement? A new report indicates that such may be the case.As the new century — not so new now — dawned, employers’ focus was... READ MORE