(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
September 2nd, 2016

Financial Education for Nurses

When Steven Fox went to work for the American Nurses Association (ANA), in Silver Spring, Maryland, as vice president of membership and constituent relations, he was concerned about the members’ financial well-being. According to Fox, about half of the ANA’s 187,000 nurses are employed by hospitals, and the rest work in a variety of settings, many of which are small and provide no retirement plan. Edelman Financial Services, in Fairfax, Virginia, contacted Fox about providing personal financial services. Tens of thousands of nurses have taken advantage of free resources offered to them through the financial group.Read more >

Gen X Most Concerned About Retirement Prospects

Spectrem Group’s DC Participant Insight Series report, “Financial Behaviors and the Investor’s Mindset,” which surveyed 1,442 participants in an employer-sponsored defined contribution (DC) retirement plan, found fewer than half of DC plan participants expect to have enough income to live comfortably during their retirement. Millennials are more likely to feel confident, with 64% indicating they should have enough to make it through their retirement. Gen X investors are least comfortable with this idea, as less than four-in-ten believe they will have enough for retirement.Read more >

Study Finds Retirement Calculators Not Tax Efficient

According to research published in The Financial Analysts Journal, most retirement calculators cheat investors out of at least six years of retirement income by using inefficient drawdown strategies.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

Knowing Fundamentals Key to Retirement Confidence

BlackRock’s DC Pulse Survey of 1,003 DC plan participants found 28% reported feeling “unsure” about whether they are on track for retirement. The survey revealed people “unsure” about their retirement prospects are much more likely than those “on track” to admit that “I don’t know as much as I should about investing for my retirement,” (66% vs. 38%, respectively) and “I don’t know how much money I need to save in order to fund the retirement I want,” (68% vs. 32%, respectively).Read more >

A Public Plan Sponsor Give Employees View of Retirement

The Government of the District of Columbia recognized that with most employees not having a DB plan to supplement their 401(a) plan, participating in the 457 plan was necessary to really have enough retirement income. In addition, there was concern that employees didn’t understand their retirement offerings, and if they did, they didn’t know how best to utilize them. The government asked ICMA-RC to bring some unique things to employees. One of the tools the government wanted to use was ICMA-RC’s RealizeRetirement tour, which the government offered to employees in June.Read more >

Higher Education Institutions Generous With Retirement Contributions

Sibson Consulting’s College & University Benefits Study, conducted in 2015, finds 77% of all public and private university DC plans included contributions almost three times greater than corporate contributions in 401(k) plans.Read more >

TIAA Clients Gain Voice Biometric Authentication

TIAA customers can now create a “voiceprint” to securely identify themselves when they call to speak to a representative, transfer funds or check their account balances.Read more >

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

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