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May 1st, 2018 |
One-Quarter of Employees Do Not Know How Much They Need to Save for RetirementMore than half (53%) of workers ages 60 and older say they are postponing retirement, with 57% of men putting retirement on hold compared to 48% of women, according to a CareerBuilder survey. Approximately one-quarter (24%) do not know how much they will need to save for retirement. In addition, the survey found roughly one in four workers ages 55 and older (23%) said they do not participate in a 401(k), IRA or other retirement plan.Read more > |
IRS Reverses Change in HSA LimitThe Internal Revenue Service (IRS) says it is reversing the change to the limitation because stakeholders informed it that implementing the $50 reduction to the limitation on health savings account (HSA) contributions for an individual with family coverage under a high-deductible health plan (HDHP) would impose numerous unanticipated administrative and financial burdens.Read more > |
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Amending Retirement Plans for Final Disability Regulations“I administer an Employee Retirement Income Security Act (ERISA) 403(b) retirement plan, and our plan provides for early retirement distributions in the event of disability. I was just informed that final disability regulations took effect April 1st, but I know that we did not amend our plan to reflect these new regulations. Should I panic?”Read more > |
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Retirement Industry People MovesAscensus has entered into an agreement to acquire Benefit Planning Consultants, Inc. (BPC). Headquartered in Champaign, Illinois, BPC is a diversified third-party administrator (TPA) that provides retirement and consumer-directed healthcare (CDH) solutions. The firm assists businesses with the design, implementation, and administration of retirement plan services (such as 401(k), 403(b), 457, money purchase, profit sharing and employee stock ownership plans [ESOPs]).Read more > | Solution Targets Practical Employee Financial Literacy GainsThe Financial Elements program breaks down challenging concepts into simple elements to increase financial literacy and reduce employee financial stress through education and behavioral coaching.Read more > | Hellman & Friedman Buying Financial Engines for $3.02 BillionHellman & Friedman, which owns Edelman Financial Services, will combine the two companies.Read more > |
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