Happy Friday, PLANSPONSOR readers! This week was all about retirement confidence, as the Employee Benefit Research Institute (EBRI) released the 27th edition of its Retirement Confidence Survey. The survey found individuals are not taking all the steps they can to prepare for a comfortable retirement. Another survey found having a written plan increases retirement confidence, while other surveys found African Americans and Latinos need help with debt before being financially secure and revealed why Americans aren’t saving more for retirement. In other benefits news, the House of Representatives failed to vote on new health care reform, and a look at the provisions of the bill and why there was no vote shows what lawmakers are seeking. All this and more in this edition of PLANSPONSOR Weekend!
Just four in 10 workers report they and/or their spouse have ever tried to calculate how much money they will need to have saved to live comfortably in retirement, and fewer have taken other steps to prepare.
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Forty-three percent of investors with a written plan are highly confident they are headed towards a comfortable retirement, compared to 23% of those without a written plan.
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While planning for retirement was the overall top concern for employees in 2016, Financial Finesse found the top concern for African Americans and Latinos was getting out of debt.
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The U.S. House of Representatives did not vote on the new health bill as planned Thursday, but a look at why they didn’t and the provisions of the bill show what lawmakers are seeking—some of which would reduce costs and burdens for employers.
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Share the news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.
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The firm has agreed to pay $75 million to settle litigation brought by multiple retirement plan participants alleging J.P. Morgan invested its stable value funds in risky assets.
A new research report and Catherine Collinson, with Transamerica Center for Retirement Studies, lay out steps all three can take to improve retirement confidence and readiness in America.
Bruce Ashton, with Drinker Biddle & Reath, discusses the fiduciary risk defined contribution (DC) plan sponsors could face when participants default on plan loans.
Plan sponsors required to file a financial audit along with their Form 5500 should know how regulators use the information and how to pick the best auditor.
Plan sponsors should evaluate providers’ cybersecurity practices, but there are also steps they and plan participants can take to safeguard retirement accounts.
