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
Clarification of Loan Repayment Delay Provisions of CARES Act

Experts from Groom Law Group and Cammack Retirement Group answer questions concerning retirement plan administration and regulations.

Get Beneficiary Designation and Missing Participant Practices in Order
The pandemic has highlighted the need for plan sponsors to actively encourage revised beneficiary designations and have missing participant procedures in place.
Risk for Cyberattacks Heightened as Remote Work Continues
Remote work is expected to lead to more attacks on retirement plan accounts, but there are an increasing number of measures to handle the threat.
Health Care Organization Faces 403(b) Excessive Fee Suit

Much of the complaint is dedicated to discounting the use of an actively managed TDF suite rather than a less costly index TDF suite.

COVID-19 Compliance Corner: IRS Eases 401(k) Safe Harbor Suspension Rules

Each week, Carol Buckmann, with Cohen & Buckmann P.C., will explain legislative provisions or official guidance related to the COVID-19 pandemic that affect retirement and health plan sponsors.

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

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