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.Read more >
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.Read more >
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.Read more >
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.Read more >
Share the news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more >
The lawsuit says the target-date funds were selected for the plan despite having no performance history and, when they continued to underperform, they were not replaced with better options.
The lawsuit claims the trustee allowed an unauthorized person to take a distribution from a participant’s account and that the trustee is refusing to provide information to help remedy the situation.
Syed Nishat, with Wall Street Alliance Group, discusses potential effects on retirement plans if President Joe Biden is able to move forward his legislative agenda.
The Center for Retirement Research says half of American households are at risk of not being able to live at pre-retirement standards of living in retirement.
