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| Benefits & Administration |
| Millennials Have Priorities Ahead of Retirement Saving |
| The latest Allstate/National Journal Heartland
Monitor Poll finds 32% of “younger” Americans believe paying off credit card
and student loan debt is the best use of the money they have right now. There
were several other financial priorities that ranked above saving for retirement
for younger survey respondents.Read more > |
| The 2015 edition of Vanguard’s “How America
Saves” study finds plan sponsors and advisers are in general focused on plan
fees and bringing meaningful savings to the participants they serve. The annual
study shows more plan sponsors have incorporated a wider range of low-cost
index funds into their plans, Vanguard notes. The firm says half of its plan
sponsor clients now offer an “index core lineup,” defined as a comprehensive
set of low-cost index options that span the global capital markets.Read more > |
| What Plan Committees Should Know and Discuss |
| About 62% of plan sponsors understand their
fiduciary responsibility, says Jordan Burgess, senior vice president, Specialty
Field Sales at Fidelity Financial Advisor Solutions. “They understand the
basics of participant education and communication,” he tells PLANSPONSOR,
“which should be a regular part of what they talk about.” Typically, says Bill
McClain, senior defined contribution (DC) consultant with Mercer, plan
committee members need updates about judicial, regulatory and legislative
issues as well as retirement trends. “There’s so much happening in the DC
world, it’s difficult for a committee member to keep up with everything going
on without support.”Read more > |
| In the second half of a conversation with
PLANSPONSOR, U.C. Berkeley Economics Department Chair Shachar Kariv discusses
the importance of defining and driving “financial rationality” among workplace
savers.Read more > |
