Retirement benefits

State plans will encourage more retirement saving by workers who could later roll over assets to private plans, a CalSavers official says.

Expect clients to take steps, such as maximizing automatic services, that will encourage positive behaviors to help individuals reach their financial goals.

CalSavers program argues that state plans will encourage more workers to save for retirement.

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.

Retirement plans may decline to offer delayed RMDs, plan loans, stretch and hardship distributions and a host of other legally sanctioned tax maneuvers.

Expect employers to take steps, such as maximizing automatic services, that will encourage positive behaviors to help individuals reach their financial goals.

For the best approach, clients should find a balance between cost containment and employee engagement.

Although the test is complicated and misunderstood, eliminating it could “do more harm than good,” according to an expert.

The best approach should find a balance between cost containment and employee engagement.

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.