Americans are saving more for retirement, according to a survey released by the Plan Sponsor Council of America.1 In fact, employees put 6.8 percent of their paychecks into 401(k) and profit-sharing plans in 2018 compared to 6.2 percent of their salaries in 2010. Why the increase? One reason may be that 57.5 percent of retirement … Continue reading The Impact of Auto-Enrollment into Retirement Plans
As a retirement plan sponsor how can you encourage your employees to save and save more? Improving both employee participation and their saving rates is easy when you’re prepared. Here are four simple ways you can help your employees start building a confident retirement. Boost employee participation with automatic enrollment. Choosing to automatically enroll all … Continue reading Four Ways to Increase Employee Retirement Contribution Participation
The flow to passive management is one of the biggest talking points of the decade. With this shift came the daunting task, and responsibility, to better evaluate the abundance of index funds offered by the marketplace. Index funds seek to replicate the performance of a benchmark, making the idea of comparing returns appear counter-intuitive. This … Continue reading Index Funds – Looking Beyond Fees
As human resource managers begin working on updating their benefits package, it’s important to remember that millennials are quitting their jobs faster than employers can hire them1 - which is especially problematic considering millennials now make up 50 percent of the workforce 2. The reasons for resignations vary widely, but one retention solution may be … Continue reading Student Loan Contribution Programs: The New Way to Recruit and Retain Millennials in Today’s Workplace
Ever wondered why we use Russell instead of S&P for benchmarks in the RPAG system? Here are four important reasons: Russell ranks each company in the investable universe according to its total market capitalization while S&P uses a committee to make these decisions. Market cap is the primary indicator to determine where a company belongs … Continue reading Why We Use Russell Instead of S&P
As Americans look into the future and towards retirement, many understand that maintaining their health will be an important part of their overall quality of life after they stop working. However, uncertainty around healthcare costs – both now and in retirement – is a major financial worry among Americans preparing for retirement. So how can … Continue reading Four Reasons to Integrate Health Savings into your Retirement Plan
Adapt to the shifting priorities of modern workers to attract and retain the best talent Longevity, demographic changes and technological innovation have revolutionized the world of work. As many employers face a coming wave of baby-boomer retirements, the resulting gaps in unique skills, experience and institutional knowledge may be difficult to fill. Keeping mature workers … Continue reading The Evolving Workscape
Many plan sponsors struggle with deciding how many investment options to offer in their retirement plans. While people generally like to have lots of options when making other decisions, having too many plan options can potentially lead to poor investment decisions by plan participants. In addition, increasing plan options can also increase plan costs, as … Continue reading How Many Investment Options Should You Offer?
IRAs are an effective way for individuals covered by employer-sponsored retirement plans to supplement their retirement savings. Anyone can make IRA contributions up to the annual limit. For 2019, this limit is $6,000, plus an additional catch-up contribution of $1,000 for taxpayers 50 and older. For traditional IRAs, contributions are tax deductible in the year … Continue reading Retirement is a Long Way Off Until It’s Not – Should I Supplement My Retirement Savings With an IRA?
Many plan sponsors struggle with providing resources for participants to help them determine their retirement readiness. Participants will have many questions and need many answers, including deciding when they want to retire, when they can retire, how much money they will need, how much they have yet to save, and how they are going to … Continue reading Helping Participants Determine Retirement Readiness