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Guaranteed Income
When it comes to spending in retirement, a lot could come down to where you live.That’s the conclusion of new research by the nonpartisan Employee Benefit Research Institute (EBRI), which finds large variations in spending by older households across the country.According to “Geographic Variation in...
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When it comes to spending in retirement, a lot could come down to where you live.That’s the conclusion of new research by the nonpartisan Employee Benefit Research Institute (EBRI), which finds large variations in spending by older households across the country.According to “Geographic Variation in...
READ MORE
When it comes to spending in retirement, a lot could come down to where you live.That’s the conclusion of new research by the nonpartisan Employee Benefit Research Institute (EBRI), which finds large variations in spending by older households across the country.According to “Geographic Variation in...
READ MORE
Timing, it is said, is everything. If that’s the case, financial wellness may offer yet more proof of the validity of that premise. Recent studies indicate that employers are increasingly interested in financial wellness — and that it can’t come soon enough.So what exactly is financial wellness?...
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The Pension Benefit Guaranty Corporation (PBGC) has released information on the pension plan benefits it paid in 2015 by state.The PBGC in 2015 paid out benefits of more than $5.6 billion to approximately 840,000 retirees in the United States. It paid $100 million or more to retirees in each of 17...
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President Trump’s nominee for Secretary of Labor is slated for a Senate hearing Feb. 16 — and if the list of questions from Sen. Elizabeth Warren (D-Mass.) is a harbinger, it’s going to be a contentious one.Ahead of that Feb. 16 hearing before the U.S. Senate Committee on Health, Education, Labor...
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U.S. Rep. Vern Buchanan (R-Fla.) has introduced bipartisan legislation to make it easier for small businesses to offer retirement benefits to employees. It’s not the first time Buchanan has done so; he introduced an earlier iteration in the waning days of the 114th Congress in December 2016.H.R....
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Pension Benefit Guaranty Corporation (PBGC) premiums should not be a safety valve for the federal budget. That’s the view of Sen. Michael Enzi (R-WY), who has introduced legislation that would prevent the practice.Enzi introduced S. 270, a bill that would prohibit the use of premiums paid to the...
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The Oregon State Treasury is seeking the views of payroll providers and experts about OregonSaves, the state retirement plan that would provide coverage to employees whose employers do not offer a retirement plan, the self-employed, part-time employees and those who are not eligible for an employer...
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At a Feb. 3 U.S. Chamber of Commerce conference, “The Shifting Paradigm of Retirement,” a panel of experts addressed the changing dynamics of the workforce and its financial wellness.“We know that millions of Americans are facing financial issues,” said panelist Prudential Senior Vice President...
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The Department of Labor’s (DOL) fiduciary rule, as well as other regulations and laws that affect and govern retirement plans, were part of the discussion at the U.S. Chamber of Commerce meeting on Feb. 3.“The Shifting Paradigm of Retirement,” a morning program in which speakers from the federal...
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Employer-provided retirement plans remain key to retirement saving to a healthy proportion of the employee population, and interest in some aspects of those plans is especially strong, says a recent study.“The expectation for employer support is increasingly evident,” says American Century...
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Sure, you’ve spent a year getting ready for the fiduciary rule — but are you ready for this?Tax reform is the topic du jour in the nation’s capital. The headlines have been filled with promises from both President Trump and nearly every one of his cabinet appointees to do something about tax reform...
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A not-so-complex financial calculus underpins a delicate balance for small business owners considering offering a retirement plan — and Congress could be getting ready to screw that up.As it turns out, the House Blueprint for tax reform provides a 25% tax rate on income from pass-through entities (...
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House Ways & Means Committee Chairman Kevin Brady (R-Texas) says that Congress is “seeking ideas” on how to increase saving, including retirement saving. Brady made his remarks at the Financial Services Roundtable’s Jan. 25 meeting, “Breaking Down the Barriers to Financial Security,” held in...
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Almost 20% of U.S. workers are part-time. That has many implications for employers and employees — among them, how those workers will prepare for retirement and how those employers can be involved.That translates to just over 21 million as of December 2016, according to the Bureau of Labor...
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The most common DC match turns out to not be the one that participants were more likely to get, according to a new report.Altogether, the most common match rates for employee contributions (with various limits on the maximum employee contribution matched) were 50% and 100%, both used by about 37%...
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The most common DC match turns out to not be the one that participants were more likely to get, according to a new report.Altogether, the most common match rates for employee contributions (with various limits on the maximum employee contribution matched) were 50% and 100%, both used by about 37%...
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People often talk about the significance of the “free” money associated with the company match in retirement savings — but there’s another source of “free” money that is often overlooked.I’m talking about the so-called Saver’s Credit, more precisely the Retirement Savings Contributions Credit. It’s...
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A report by the Bureau of Labor Statistics (BLS) finds a number of factors influencing the cost of providing those benefits beyond wages.According to “Defined contribution retirement plans: Who has them and what do they cost?,” the BLS reports that in March 2016, the overall employer cost for...
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