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| Benefits & Administration |
| CRR Finds Those at Risk for Having Inadequate Retirement Income Dropped |
| Between 2013 and 2016, the National Retirement Risk Index (NRRI) improved modestly, dropping from 52% to 50% of working-age households, according to the Center for Retirement Research (CRR) at Boston College. The NRRI measures the percentage of households at risk of having insufficient income to maintain their pre-retirement standard of living. The CRR says between 2013 and 2016, both equity and house prices increased sharply, serving to reduce the NRRI. According to the CRR, there were three main factors increasing the share of households at risk for inadequate income in retirement—the rise in Social Security’s Full Retirement Age (FRA), the decline in interest rates, and new reverse mortgage rules. All groups of households experienced an improvement in risk, except middle-age and middle-income households, due in part to more non-mortgage borrowing.Read more > |
| Employees Want More Than Education on Retirement Savings |
| The 2017 Financial Mindset Study and the 2018 Hot Topics in Retirement & Financial Wellbeing reports from Alight Solutions find distinctions with what workers and employers believe are integral in financial education, and what both groups consider vital past the spectrum of retirement savings and insurance services.Read more > |
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| Ask the Experts |
| Does Erroneously Filing Form 5500 Void Non-ERISA Status? |
| “A 403(b) plan sponsor intending the plan to be a non-ERISA [Employee Retirement Income Security Act] plan hired our TPA firm last year. However, before they hired us, they erroneously filed a Form 5500. Is the mistaken filing enough to void the non-ERISA status?”Read more > |
