Does Social Security still have a minimum benefit?
To qualify for this feature, clients should have reported a minimum amount for at least 11 years.
Retirement benefits
Pay student loans or save for retirement? These employees don’t have to choose
About 45 million borrowers owed more than $1.56 trillion in student loan debt at the end of 2018.
Benefit pros on the move: ACI Specialty Benefits, Cetera, Vida Health
These companies are making new hires and promotions in the brokerage, technology and healthcare industries.
When not to roll a 401(k) into an IRA
For many workers, moving assets from old 401(k)s into a traditional IRA may not be a smart move. One reason: IRAs often don’t offer stable value or guaranteed fund investment options as do most 401(k)s.
Benefits Think 5 ways to evaluate your client’s automatic rollover program
Taking a closer look at the inner workings of ARO programs can shine a light on features that require attention, particularly in light of the recent DOL guidance on auto-portability.
Spencer Williams
Portability Services Network and Retirement Clearinghouse
Travelers offers new benefit to manage student loans
About 45 million borrowers owed more than $1.56 trillion in student loan debt at the end of 2018.
Benefits Think 5 ways to check if your automatic rollover program needs an upgrade
Taking a closer look at the inner workings of ARO programs can shine a light on features that require attention, particularly in light of the recent DOL guidance on auto-portability.
Spencer Williams
Portability Services Network and Retirement Clearinghouse
What do state retirement plans mean for employers?
State plans will encourage more retirement saving by workers who could later roll over assets to private plans, a CalSavers official says.
Benefits Think 3 defined contribution plan design trends to watch
Expect clients to take steps, such as maximizing automatic services, that will encourage positive behaviors to help individuals reach their financial goals.
Aimee DeCamillo
T. Rowe Price Retirement Plan Services
Could state retirement plans create opportunity for advisers?
CalSavers program argues that state plans will encourage more workers to save for retirement.
Time is running out to fix this IRA mistake and avoid a 50% penalty
If the client makes a mistake, they are advised to take the RMD as soon as they discover it so they can ask the IRS for a waiver of the penalty.
Even when IRS says yes, company plans may say no
Retirement plans may decline to offer delayed RMDs, plan loans, stretch and hardship distributions and a host of other legally sanctioned tax maneuvers.
Benefits Think 3 defined contribution plan design trends to watch
Expect employers to take steps, such as maximizing automatic services, that will encourage positive behaviors to help individuals reach their financial goals.
Aimee DeCamillo
T. Rowe Price Retirement Plan Services
Benefits Think How to build a multigenerational benefits strategy
For the best approach, clients should find a balance between cost containment and employee engagement.
Greg Blemlek
Corporate Synergies
Social Security’s earnings test is too complicated — and it discourages work
Although the test is complicated and misunderstood, eliminating it could “do more harm than good,” according to an expert.
Benefits Think How to build a multigenerational benefits strategy
The best approach should find a balance between cost containment and employee engagement.
Greg Blemlek
Corporate Synergies
Younger generations driving lifestyle benefits
Millennials and Gen Z want more from their employers than the basic medical coverage. Learn how to adapt benefits to their needs as they age.
Why the tax law may induce some people to put more money in 401(k)s
The cap on state and local tax deduction under the tax law may prompt more employees to direct their retirement savings to their 401(k)s than to build home equity.
Why full retirement age is so important for Social Security
Retirees who opt to file at a much later date can earn delayed retirement credits that could boost their benefits by as much as 32%.
2019’s Rising Stars in Advising
These young standout advisers see a changing workforce sparking new benefits for gig workers, student loan debt relief and better engagement tactics from employers. Ranging in age from 26 to 35, they represent the next generation ready to make their mark on an evolving industry.