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Retirement Income
The Social Security Administration (SSA) has released an issue paper that examines the similarities and differences between Social Security retirement benefits and annuities, and the factors that determine how much lifetime retirement income an individual would receive.In “Social Security...
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I made the switch to Roth for my retirement savings years ago — and I have long counseled younger workers, who were likely paying the lowest tax rates of their working lives, to do so as well.Pre-tax treatment has, of course, been the norm in 401(k) plans since their introduction in the early 1980s...
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Colorado’s proposal to create a state-sponsored retirement savings program for private-sector workers fell short in a vote in the state Senate on April 26.The vote to postpone consideration of the measure indefinitely fell along party lines in the GOP-led Senate Committee on State, Veterans, &...
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A new survey finds that plan sponsors are enthusiastic about health savings accounts (HSAs), and the vast majority view HSAs as part of their retirement benefits strategy.The survey of 255 employers (181 of which currently sponsor an HSA-qualifying high-deductible health plan, or HDHP) by the Plan...
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In a White House blog entry posted late on April 26, National Economic Council Director and chief economic advisor to President Trump Gary Cohn reiterated his earlier comments that retirement savings will be protected as tax reform proceeds. In the entry, “President Trump Proposed a Massive Tax Cut...
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A new study examines what small business owners in Connecticut think about the state’s new retirement plan and how well they grasp it. The Nutmeg State’s system for private-sector employees has been in place since May 27, 2016.With other states putting similar plans in place and still more...
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Noted journalist Horace Greeley once famously commented “Go West, Young Man.” What’s not often repeated is the rest of that quote.Regardless of where you live, this year’s Western Benefit Conference is, once again, shaping up to be an amazing event. It’s one of the few events in the nation to span...
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It’s tempting to believe the report that Millennials spend more on coffee than they save for their eventual retirement. Especially if one has even one eye open at Starbucks. But a recent analysis challenges what seems to be conventional wisdom.In “Fake News Fact Check: Do Millennials Spend More on...
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The Pension Benefit Guaranty Corporation (PBGC) has expanded the availability of filing information for those who use “My PAA,” its online premium filing system. It made the announcement on April 24.My PAA account holders now can view the comprehensive premium filings that were successfully...
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Plan sponsors and administrators got some good news on April 20 from the IRS regarding the calculation of maximum participant loan amounts.There are several limitations imposed with regard to participant loans, including one that the total amount of the loan(s) outstanding cannot exceed $50,000 in...
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A recent article in the Wall Street Journal cautions: “Grab Your Pitchforks, Your 401(k) May Need Defending From Congress.”The article (subscription required) covers ground we have heard for months now — that “The lucky participants in one of the best retirement plans around are coming after yours...
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The Beaver State took another step forward this week to implement the “OregonSaves” program, as the Oregon Retirement Savings Board approved the final rules that will govern the operation of the program.Starting Nov. 15, 2017, Oregon employers with 100 or more employees must begin to register with...
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The Texas Public Employee Retirement Systems (TEXPERS) has released a report on the results of the strategies its local systems have followed for allocation and investment of assets.“Report on the Asset Allocation and Investment Performance of Texas Public Employee Retirement Systems,” released at...
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Working Americans appear to still be taking their lump (sums), but liking them less, according to a new survey.The “Paycheck or Pot of Gold Study” by MetLife, based on a summer 2016 survey Harris Poll conducted, found that one in five individuals (21%) who took a lump sum either from a defined...
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Working Americans appear to still be taking their lump (sums), but liking them less, according to a new survey.The “Paycheck or Pot of Gold Study” by MetLife, based on a summer 2016 survey Harris Poll conducted, found that one in five individuals (21%) who took a lump sum either from a defined...
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They say that two heads are better than one — and that certainly seems to be the case with retirement planning.For example, married men and women are more likely than unmarried men and women to report having saved for retirement: 7 in 10 married workers have saved for retirement, compared with just...
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They say that two heads are better than one — and that certainly seems to be the case with retirement planning.For example, married men and women are more likely than unmarried men and women to report having saved for retirement: 7 in 10 married workers have saved for retirement, compared with just...
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A new survey finds that demographic shifts (yes, Millennials) and employee expectations (gig, anyone?) are redefining the workplace — and benefit priorities for plan sponsors. Guess what hasn’t changed?Asked to rank their top benefits priorities, more employers (83%) chose retaining employees as an...
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Much has been said over the sharp partisan divides in our country. But there are some transcendent matters that bridge the gorge and unite us in a common purpose. And one of them, a recent study finds, is concern over financial security in retirement.In the biennial study “Retirement Security 2017...
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Odds are that you’ve heard that health savings accounts, or HSAs, offer individuals a “triple tax advantage” — but here are five things you may not know about HSAs.A recent survey by Mercer found that 25% of employers with 10-499 employees and 61% of employers with 500 or more employees offered an...
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