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4 steps to motivate employees to start saving for retirement

Benefits professionals struggle constantly to convince employees they need to start saving for retirement. Snap them back to reality by helping them figure out exactly how much they need to sock away to pay for their needs once they stop working. Walk employees through this savings calculation the next time you talk up your 401(k) or 403(b) plan.

One-third lack any retirement savings whatsoever

New research confirms long-held concerns about the nation’s retirement readiness: Fully 32% of working-age Americans—about 58 million—have no retirement savings at all.

State-based retirement plan mandates grow

By the end of 2023, 15 states will have begun requiring employers that don’t offer retirement benefits to automatically register employees for state-based 401(k) or individual retirement accounts.

401(k) plan news you can use

Two new regulatory projects from the Department of Labor—a set of proposed and final regulations—may impact your 401(k) plan administration.

How secure is your 401(k) plan?

We think cyber/cloud/computer security is an everyday concern because bad things usually happen when it’s not. The IRS is so concerned about security, it’s highlighting it all this month in what it declares Cybersecurity Awareness Month.

Health care to cost retirees hundreds of thousands

A 65-year-old couple that retires this year can expect to spend $315,000 on health care alone over the rest of their lives, according to Fidelity Investments’ latest annual Retiree Health Care Cost Estimate.

Snapshot: We tend to retire sooner than we expected

Americans consistently retire at younger ages than they planned to.

Consistent participation key to retirement fund growth

Remind employees that the recent stock market downturn isn’t a sign to curtail investing in their retirement funds. Smart investors take the long view, confident that markets rebound and lead to wealth growth.

70% of retirees have regrets about retirement savings

Seven out of 10 retirees wish they had saved more for retirement during their working years and would advise their younger selves to sock away more and seek expert financial advice, according to a new survey by the Employee Benefit Research Institute.

Remind employees: Don’t panic about market losses

U.S. stocks have lost nearly 20% of their value this year, with the S&P 500 flirting with bear-market territory and the Dow Jones Average down nearly 15%. Employees invested in your retirement plan are undoubtedly nervous.