PLANSPONSOR Weekend Newsdash
Week ending June 21st, 2019
The definition of retirement readiness isn’t the same for everyone, and a recent study found self-assessments of retirement preparedness vary with the amount of current savings and with time remaining until retirement. Generation X may be in the most precarious situation right now when it comes to getting ready for retirement. Employers may help all generations by offering benefits to help employees with current financial obligations and surprises; a financially well employee should be able to save more for retirement. And, once an employee has built a savings account, it needs to be preserved when he changes employers or leaves the workforce. One thing everyone should plan for is greater health care costs in retirement. Enjoy this edition of PLANSPONSOR Weekend.
Editor's choice
Data and Research
Perceptions of Retirement Preparedness Vary With Age and Time
A study from the Federal Reserve finds people at different ages have a savings threshold for feeling they are on track for an adequate retirement, and for those in retirement, reported economic well-being varies substantially with the reason for retirement.Read more >
Administration
Generation X Has a Big Need for Retirement Readiness Improvement
A study shows Americans at least 45 years old who have not yet retired are struggling financially and falling behind in retirement savings, but defined contribution (DC) plan sponsors can help.Read more >
Benefits
Offering Short-Term Stability to Help Employees Have Long-Term Security
The ability to handle short-term financial goals—or shocks—can improve an employee’s ability to save for the future.Read more >
Data and Research
Rolling Over Retirement Assets Creates Greater Retirement Income Adequacy
Not rolling defined contribution (DC) plan assets into an IRA or another DC plan has a very material impact on retirement deficits, an Employee Benefit Research Institute (EBRI) study found.Read more >
Data and Research
Employees Need to Plan for Greater Health Costs in Retirement
The Employee Benefit Research Institute (EBRI) says that due to the financial condition of the Medicare program and cutbacks to employment-based retiree health programs, in the future, individuals are going to have to pay a greater share of their health care costs in retirement.Read more >
MOST POPULAR STORIES
Coronavirus News for Plan Sponsors
The latest news about market volatility, benefits and business updates, and legislative and regulatory actions.
Retirement Plan Provisions Included in Senate’s Stimulus Package

Among other things, the bill would allow for targeted, penalty-free access to tax-qualified accounts for those hit hardest by the health crisis.

Loan, Hardship Withdrawal Flexibility Among Possible Congressional Actions

Lawmakers are debating what will likely prove to be an unprecedented stimulus package aimed at helping businesses, workers and retirees recover from the economic effects of the coronavirus pandemic.

Employers Can Offer Financial Help to Participants Without Dipping Into Retirement Savings

Because the coronavirus was designated a disaster under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, qualified disaster relief payments are permitted.

Tax Filing Relief Adds Time to Contribute to Benefit Plans

Individuals have more time to contribute to IRAs and HSAs, and employers have more time to contribute to their retirement plans.

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

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