As a growing number of America’s aging workers delay retirement, employers should consider applying a multiyear strategy alongside their 401(k) plan to find ways to improve their employee’s ability to retire on their own terms and minimize the higher costs associated with those who are forced to keep working.
Damian A. Myers, with Proskauer Rose LLP, says employers can inadvertently subject individual market insurance policies to ERISA if they have too much involvement in selecting which policies are purchased through an individual coverage HRA.
Michael Barry, president of O3 Plan Advisory Services LLC, reflects on the Department of Labor’s regulatory agenda under former Secretary Alexander Acosta and wonders if Eugene Scalia will move things along more quickly.
There are some who think Social Security will no longer be an option when they retire, some who think it will exist but benefits will be smaller, and even some who think the system will be saved and pay as it does today.
Nathan Voris, with Schwab Retirement Plan Services, discusses how retirement calculators can be a useful resource for employees—by spurring them into action and providing them with more confidence about retirement readiness.