Retirement readiness

The original purpose for a 401(k) plan was not supposed to be the primary retirement vehicle for U.S. employees, says Harry Dalessio, the head of institutional retirement plan services at Prudential Retirement.

The financial planning tool gives participants mobile access to their mutual fund retirement accounts and offers a series of features that make retirement planning easier.

Defined contribution plan participants will seriously diminish their retirement savings if they prematurely cash out all or part of their 401(k) savings account balances.

Early retirement is on the rise during the coronavirus pandemic. Here’s how employers can support employees and offset talent loss.

Financial practitioner Aaron Brown takes a look at the logic behind modern day 401(k) plans.

The carrier will take a charge of as much as $3.3 billion to cover the costs of early retirement and voluntary separation plans for employees, as it scales back operations amid a plunge in travel.

Transparency around compensation is key in closing the gender pay gap, and thus the retirement income gap for the future, as it creates accountability for employers and trust with employees.

Years from now, terminated employees may discover they have less income in retirement due to an automatic rollover or automatic cash-out from a previous employer.

An early look at the impact from the economic shutdown was not as bad as feared, while industry insiders see opportunities for advisers and sponsors to talk up the value of retirement and emergency savings.

The lack of seamless plan-to-plan asset portability prevents participants from easily moving and consolidating their 401(k) savings, leaving them open to the temptation to prematurely cash out their 401(k) accounts from prior employers’ plans.

A retirement expert advises employers on helping workers save for the future during this pandemic.

The CARES Act waiver of penalties for premature 401(k) withdrawals may hurt the very American workers and families the Act is supposed to help.

Older clients are advised to take extra steps to protect their finances as the current crisis may leave them prone to making poor financial decisions.

Plan sponsors should realize that now is the time to act and acknowledge that participants, many of whom are unknowingly in heavy equity allocations, will jump out as we hit more realistic volatility cycles.

CommonBond is ensuring employees can qualify for employer retirement contributions while they pay off their student loans.

Industry insiders see momentum building for more retirement legislation that could upend the benefits world.

With hardworking African-American and Hispanic workers far more likely to cash out than other participants, our nation has a serious retirement-saving crisis on its hands.

Aside from income taxes, retirees will also pay consumer taxes and may face a 3.8% Medicare surtax.

Those 55 and older were more likely than younger workers to die of lingering injuries days, weeks, months or even years after a workplace incident.

Making the transition into retirement requires self-reflection and preparation ahead of time.