A coalition of nearly 20 financial industry trade groups, including the Financial Services Institute and the Insured Retirement Institute, says a 60-day comment period is not enough time to comment on the 500-page proposal.
Only 7% of women believe they have sufficient savings to last their entire retirement, and "it's incumbent on us in the financial industry to do a better job of reaching women as early as possible," according to IRALOGIX.
Private pension funds are not as fragile as state and municipal pensions because they have tighter regulatory rules that govern their accounting and contribution rate requirements, according to Equable Institute.
The IRS announced Wednesday it will increase 401(k) contribution limits to $23,000 (from $22,500 in 2023), a smaller increase than last year's record-breaking amount of $2,000, while limits for employees over 50 remains unchanged.
Over half (54%) of employees approaching age 65 will likely seek guidance about Medicare from their employer, and one of the most common questions employers are likely to encounter from employees is: "When can I enroll?"
Investors may want to consider replacing a portion of their core bond portfolio with a fixed-income annuity or qualified default investment alternatives, like target date funds, balanced funds and managed accounts, says Nuveen.
Employers can help employees improve their retirement readiness by encouraging them to engage with their 401(k) benefits, which might include access to retirement planning tools or meetings with financial advisors.
After a 3-year pause in student debt repayment, employees are looking to their employers for help in managing student debt while still planning for their future – and there are various ways employers can lend support.
The number of retirement millionaires jumped in the second quarter of 2023, with a 10% increase in millionaires holding 401(k) accounts and a 13% increase in millionaires with IRAs, according to Fidelity.
Flexible work options and mental health resources are important benefits employees want from their employers to increase satisfaction at work.
DebugScreen: mobile
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{
"uri": "/2023/11/09/financial-groups-to-dol-on-proposed-new-fiduciary-rule-give-us-a-60-day-extension/",
"title": "Financial groups to DOL on proposed new fiduciary rule: Give us a '60-day extension'",
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"summary": "A coalition of nearly 20 financial industry trade groups, including the Financial Services Institute and the Insured Retirement Institute, says a 60-day comment period is not enough time to comment on the 500-page proposal.",
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{
"uri": "/2023/11/07/women-face-a-harrowing-road-to-retirement-how-employers-advisors-can-clear-roadblocks/",
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"summary": "Only 7% of women believe they have sufficient savings to last their entire retirement, and \"it's incumbent on us in the financial industry to do a better job of reaching women as early as possible,\" according to IRALOGIX.",
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{
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"summary": "Private pension funds are not as fragile as state and municipal pensions because they have tighter regulatory rules that govern their accounting and contribution rate requirements, according to Equable Institute.",
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{
"uri": "/2023/11/02/catch-up-irs-announces-401k-contribution-limits-for-2024/",
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"byline": "Kristen Beckman",
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"prettyDate": "November 02, 2023",
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"uri": "/2023/10/23/recession-probably-but-not-yet-what-plan-sponsors-need-to-add-to-their-portfolios-now/",
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"byline": "Kristen Beckman",
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