Retirement planning

The move is expected to prevent fund leakage through opt-out rollovers when workers leave a job, industry experts say.

Withdrawals for non-medical expenses would no longer be penalty-free under the proposal.

Small and midsize employers will be able to form or connect with associations to offer employees workplace retirement plans.

Baby boomers expect Social Security to be their primary source for paying for retirement, while Generation Xers and millennials are looking at other means, says Wells Fargo.

Baby boomers expect Social Security to be their primary source for paying for retirement, while Generation Xers and millennials are looking at other means, says Wells Fargo.

Before saving for retirement, young employees are advised to pay down high-interest debts and build an emergency fund, an expert says.

Without measures to help workers avoid the decision to withdraw their savings, the proposed law is less likely to achieve the stated goals of its supporters.

Employees have to increase their risk exposure to ensure they don’t outlive their savings.

With steep competition for talent, it’s important clients think outside the conventional benefits packages to help their workforce build retirement savings.

Workers can use Roth IRAs, 529 plans and — yes — life insurance to give their children a head start.