Retirement

More than a third of retirement plan participants admitted that they either “guessed” or “made up” their estimates for how much income they would need in retirement, according to a new survey, while only 30% said they consulted with a professional for help in setting their goals.

Financial literacy is so critically important to working Americans that it can make them more productive and less vulnerable to major economic uncertainty, according to a new survey, but only about half of employers said they provide basic workplace financial education.

Is your workforce going to retire in poverty?

Is your workforce going to retire in poverty?

Are health savings accounts simply better than 401(k) plans?

Amid mounting concern about the nation’s savings rate and financial illiteracy, employers face enormous pressure to move the needle on retirement preparedness. One possible solution is to tap the wildly popular gaming trend, which, in turn, can actually help make retirement planning fun and more engaging than traditional approaches to employee education.

Now, two years since OneAmerica first answered Edward Jones’ request for proposal, the two companies have partnered to offer a new set of retirement solutions for their Edward Jones’ employer clients.

The warning signs continue to mount that Americans are not saving enough for retirement – a recent study predicted three in five retirees will outlive their money if they try to maintain their working standard of living, but one financial adviser says most of her colleagues are still doing all the wrong things to help clients avoid this fate.

The Labor Department this week issued guidance on rules requiring companies to disclose 401(k) fees to employees that will be welcome news to most employers. But for some small companies with 401(k) plans, the guidance may raise more questions, experts said.

The primary cause of stress, points out James Werner, CEO of Wealth Habit, is finances. With the average employer spending just under 9% of payroll on extended disability absences - most of which are related to stress - Werner believes an increased focus on financial wellness in the workplace has the potential to not only help employees save, but also save their employers "hundreds of thousands, or even billions, of dollars a year."