| | Benefits & Administration | | Written Financial Plans Empower Employees’ Economic Future | | New research from Charles Schwab shows that three in five Americans live paycheck to paycheck and that only one in four have a written financial plan. According to Schwab’s 2018 Modern Wealth Index, having a written financial plan can lead to better “daily money behaviors,” and this goes for those near the bottom of the income scale. The Wealth Index lumps the responses of roughly 1,000 workers into “planners” and “non-planners,” and no surprise, across all important savings and investing metrics, planners are doing a lot better than their more lackadaisical counterparts.Read more > | | Plan Fees Have Fallen, But So Have Deferral Rates | | A new defined contribution (DC) plan industry assessment, conducted by BMO Global Asset Management, seeks to provide financial advisers and retirement plan sponsors with an overview of the forces shaping their daily efforts to provide high-quality retirement benefits. The guide, “DC Conversations: An industry assessment of Defined Contribution Plans,” presents an extensive amount of data largely without commentary, allowing readers to draw their own conclusions directly from the survey responses. Asked to highlight what he sees as the most important data points, Chris Barlow, national director of defined contribution investments, points to a downward trend in deferral rates measured since 2010. There is also clear evidence of a broad downward trend in plan fees.Read more > |
|
| |
