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October 26th, 2018

Impatience, Financial Literacy Could Be Strong Reasons for Retirement Savings Inadequacy

“Both financial literacy and short-run impatience play important roles in determining retirement saving, even after controlling for education and income,” researchers say in a study report.Read more >

TPA Owners Indicted for Retirement Plan Theft

The co-owners of Vantage Benefits Administrators misappropriated funds from at least 1,000 plan participants in at least 20 employers’ retirement plans, prosecutors say.Read more >
Groom Law Group and Cammack Retirement Group will field your questions concerning 403(b) plans and regulations. Email rebecca.moore@strategic-i.com with Subject Ask the Experts

Envisioning Life in Retirement Spurs Thoughts of Planning

People who were asked to envision their lives in their 60s through 80s thought about saving more, where income would come from and working during those years.Read more >

ICI Makes Recommendations for Improved Investment Disclosures

The Investment Company Institute (ICI) created a prototype of a recommended summary shareholder report, tested it, and found the majority of investors agreed that the more concise document made it easier to compare funds.Read more >

Guaranteed Income Preferred Over Lump Sums

Fifty-three percent of Americans say they would prefer guaranteed lifetime income of $660 a month over a $120,000 lump sum payment, the LIMRA Secure Retirement Institute (LIMRA SRI) learned in a survey. When asked why they would take the guaranteed income, 57% said they expect to live a long life and 46% said it was because it would give them peace of mind. When asked what the minimum lump sum would be for them to select a one-time payment over guaranteed income, 46% said they would never switch to the lump sum.Read more >

Generalizations Do Not Show the True Picture for Public Pensions

Looking at the average funded ratio of all public pensions leads to generalizations, but dividing them into groups shows many are doing well, while some will need serious intervention.Read more >

Fidelity Tailors Financial Wellness to Each Individual

Fidelity has unveiled a personalized financial wellness solution that uses new digital technology to help employees assess their individual financial wellness needs. Available through Fidelity’s NetBenefits employee benefits portal, it provides education and guidance on a broad range of financial topics at different career and life stages.Read more >

Nationwide to Offer HSAs

The solution will allow participants to more efficiently track their 401(k), 457 and 403(b) plans along with their health savings account (HSA), while offering access to education and investment selection.Read more >

Break From the Grind: The Problems With Formal Performance Reviews

Both employees and HR professionals surveyed had complaints about formal performance reviews.Read more >

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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