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
IRS Announces 2020 Contribution and Benefit Limits

The contribution limit for employees who participate in 401(k), 403(b) and most 457 plans is increased from $19,000 to $19,500.

Maximum Benefit and Contribution Limits Table 2020

Maximum Benefit/Contribution Limits for 2015 through 2020, with a downloadable PDF of limits from 2010 to 2020.

The Odds Are Split for Senate SECURE Act Passage This Year

“Overall, it is an uncertain picture, but the SECURE Act is not dead in the water,” says Bradford Campbell, former EBSA head from 2006 to 2009. “I would say it is a little less than 50-50 that it happens this year.”

Congressional Leaders Want SECURE Act Passage in 2019

Based on the conversations industry advocates are having in Washington, none of the leadership in the Senate or the House opposes passage of the SECURE Act.

Employees Are Making Each Other Sick

Having too much work to do and feeling pressure from employers are some reasons employees report coming into work while under the weather.

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

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