RETIREMENT

Percentage of older workers delaying retirement falls

03/26/2015
The improving economy is bolstering dreams of retirement for many Americans. The number of workers age 60 or older who say they are delaying retirement has reached a post-recession low of 53%.

401(k) rollovers lose billions due to conflicts of interest

03/18/2015
American workers who rollover 401(k) retirement savings into individual retirement accounts lose at least $8 billion per year because of conflicts of interest created by financial advisors’ reliance on commissions, according to a new Department of Labor report.

Most employers auto-enroll 401(k) participants

03/10/2015
Looking for a no-cost way to help employees save more for retirement? Consider making enrollment in your 401(k) automatic for all employees. They’ll have to affirmatively opt out if they don’t want to participate.

Women trail men in retirement savings growth

02/13/2015
Women invest 6% to 12% more than men in defined contribution plans such as 401(k)s, according to the Vanguard investment firm’s “2014 How America Saves” report.

How much will that 401(k) really buy at retirement age?

01/30/2015

The average 401(k) balance on retirement accounts registered with the Vanguard mutual fund company was $101,650 in mid-2014. That’s up a whopping 80% since the end of 2008.

How to keep baby boomers on board: 4 keys

01/23/2015
Get ready for an experienced cadre of workers who just won’t leave. As long as they want to stay at your company, you might as well maximize their potential.

5 ways employees can build financial security

01/22/2015
Employees whose financial affairs are in order can focus more on work and less on money worries at home. If you offer financial literacy training as an employee benefit, include these tips from the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis.

Feds' myRA retirement plan now open for business

01/21/2015
It’s now possible to offer your employees a secure retirement savings account at no cost to you. The federally insured myRA program that President Obama announced in his 2014 State of the Union address is now accepting enrollees.

Retirement savings: Your next mandatory benefit?

01/14/2015
Illinois employers must begin offering a retirement savings plan to employees starting in June 2017. Gov. Pat Quinn signed the Illinois Secure Choice Savings Program Act on Jan. 4, making Illinois the first state to require employers to provide retirement benefits.

When those retiring baby boomers want to keep working for you

01/06/2015
For many, retirement is no longer a point in time when work suddenly stops. It’s a transition that may involve shifting from full-time to part-time work or taking on a job that is more satisfying or less demanding.

Austin bus company to pay $655K to settle labor dispute

01/05/2015
Travis Transit Management of Austin has agreed to pay 600 current and former employees $655,000 to settle charges it unilaterally changed employee health, retirement and other benefits when it began providing bus service for Austin’s Capital Metro in 2012.

Pension Benefits: ERISA Rules

01/03/2015

HR Law 101: The Employee Retirement Income Security Act (ERISA) governs the administration of employee retirement plans. Pension plans fall into two major categories: qualified and nonqualified plans ...

Study: 2008 market crash delayed retirement for 23%

12/22/2014
Among the victims of the Great Recession of 2008-2009 were the retirement expectations of many Americans. New research from the nonpartisan Employee Benefit Research Institute has quantified just how much those hopes suffered.

Benefits: Should we put details in the employee handbook or the Summary Plan Description?

11/27/2014
Q. Should a small business employee handbook include a safe-harbor clause under the benefits section for their 401k plan? In the past, the benefits information in the handbook has been limited because it can change so often. Instead, the handbook just points the employee to the summary plan documents.

Employees can sock away more for retirement next year

11/19/2014
The amount employees can contribute to their 401(k) or 403(b) plan accounts increases to $18,000 for 2015, the IRS has announced.
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