Wealth management

Since joining the NFL Players Association 25 years ago, Dana Hammonds has launched a successful financial education program and constantly fine-tuned educational topics and outreach to meet players’ needs. She is the recipient of EBN’s 2014 Benny Award for Leadership in Retirement Planning.

Many studies indicate that workers should save at least 12% to 15% of their income each year. It is likely that most 401(k) plan participants are not saving anything near this amount.

Target-date funds continue to increase in popularity among investors as low-cost retirement vehicles, at the same time the Internet and increased benchmarking have made the retirement industry more transparent than ever.

New data reveals only 46% of middle-market consumers have individual life insurance, and that more than three quarters of consumers age 25-64 say they would benefit from more close guidance from financial services professionals in adding that important voluntary benefit.

With such a wide range of opinions about how much money employees need to save for retirement – estimates vary from eight to 25 times final pay – it can be hard for participants to know what to aim for.

Just like the gender gap in pay, there’s a gender gap in financial literacy, which includes knowledge of investing, retirement planning, saving, real estate, insurance and tax planning. Although the gap is narrowing, advisers can provide the educational tools needed — particularly in retirement preparedness — to catch women up to men.

Employees and other investors are increasingly looking to advisers for help with retirement investment advice and strategies, new research shows.

The Department of Labor is evaluating the use of brokerage windows in 401(k) plans and is offering employers, benefit advisers, and other stakeholders an opportunity to weigh in on the subject.

HighTower has recruited newly formed 401(k) practice Fiduciary Plan Advisors to its network platform.

When they leave the workforce, Generation X may be in a similar, not worse, retirement situation than baby boomers given their access to automatic enrollment in defined contribution plans and the growth of their future plan contributions, according to the Employee Benefit Research Institute.

The U.S. Securities and Exchange Commission recently adopted amendments to the rules that govern money market mutual funds. Two of the changes could affect how you manage your 401(k) plan.

Commentary: When the discussion about retirement plan costs focuses too heavily on fees, Blogger Aaron Friedman says it's up to advisers to demonstrate the value employers receive in return for the price they pay.

Commentary: Retirement specialist John Ludwig reviews the consequences of an employer’s failure to make timely deposits to a participant’s retirement account.

Although Americans remain concerned about retirement readiness, new research shows many employees have never increased their retirement plan contributions, unveiling a need for better engagement and education on the part of employers and their advisers.

We all know how markets have traded most of the time since the 2008 crash. One day everything is moving up in value, the next everything is falling. But things are changing.

Millennials, Gen Xers and single parents have different savings goals in mind that will require benefit advisers and employers hoping to increase retirement plan participation to target the needs of these differing employee populations.

The expanded role of target-date funds has contributed to increased participation in 401(k) plans, highlighting a retirement plan strategy benefit advisers should be sharing with their employer clients.

As employers try to figure out how best to prepare their workforces for retirement, experts in the benefits and investment industries recommend that an individual retirement account – either the traditional or Roth version – can be a good complement or standalone option for an employee’s retirement path.

Globally, defined-benefit retirement plans are becoming a thing of the past and defined-contribution plans more widely accepted as the preferred alternative, a trend that could spur inquiries from international employer clients.

Many companies have frozen their defined benefit plans to new hires. Others have abandoned their pensions in favor of a 401(k) or other defined contribution plan. But not everyone is happy with DC plans because they often leave participants to fend for themselves when most have never had to make investment decisions.