Financial wellness

Women over the age of 65 are twice as likely as men to live in poverty in retirement because of lower wages, more time spent out of the workforce and lack of access to retirement savings plans.

President Obama this week asked the Department of Labor to propose a set of rules by the end of the year that would provide a clear path forward for states to create retirement savings programs.

As the baby boom generation approaches retirement, employers will need to ask themselves what role a highly experienced, part-time workforce can play in their organization.

As the White House kicks off its Conference on Aging this week, one financial services vendor is launching a new education program for its plan sponsor clients focused on creating greater awareness of the nation’s aging population.

It’s no surprise that health care costs are continuing to rise and while employers remain committed to providing benefits, many are re-evaluating their benefit strategies.

Failure to identify all retirement plan fiduciaries is just one common mistake employers make that can lead to trouble.

There are more ways for defined contribution plan participants to gain access to professional investment management than by defaulting them into target-date funds or using a separately managed account.

Women more likely than men to take advantage of workplace financial wellness programs, yet still experience more financial stress than men.

Commentary: The term ‘fiduciary’ is often hard to define and can be interpreted in many ways, so it begs the question: How can plan sponsors best fulfill their fiduciary responsibilities in the context of a mandatory distribution program?

The majority of investors still believe in the American dream but many workers do not have a written financial plan to help them achieve their retirement goals.

The average mutual fund investor typically underperforms the indexes each year by a wide margin. What can 401(k) plan participants (who comprise the majority of mutual fund investors) do to keep from sabotaging their annual returns?

Market timing and frequent trades within 401(k) plan mutual funds seem to be a thing of the past, according to the Government Accountability Office.

Accounting for the needs of multiple generations in a financial wellness program can seem overwhelming.

Commentary: As the boomer generation moves further into traditional retirement years, evolving employee expectations are altering the benefits landscape more significantly than at any other time in recent history.

While employers define the topic in different ways, most are focused solely on the physical.

Commentary: If the objective of the Chamber of Commerce’s study on the DOL’s proposed fiduciary rules was to scare small business owners, clearly it succeeded. But it certainly failed on another level.

Small businesses will pay a big price if the Department of Labor’s proposed changes to the fiduciary rules go into effect, says the U.S. Chamber of Commerce.

Lower income employees present a particular challenge to employers as they seek to get a handle on managing their health plans.

Women tend to stress out more than men when it comes to retirement, but they also report more positive experiences in retirement.

Low-cost lending and credit-establishment services emerge as a new benefit to help employees make better financial decisions.