Retirement

Survey: 58% retired earlier than planned

11/25/2024

There has been a spike in early retirements due to reasons beyond employees’ control, according to the Employee Benefit Research Institute’s just-released 2024 Spending in Retirement study. Health problems, disabilities and changes in employment because of downsizing, business closures and reorganizations have led many to retire earlier than they planned to.

IRS announces 2025 401(k) contribution limits, other pension plan limitations

11/04/2024

The IRS has finally released the 2025 inflation adjustments to 401(k) plans, as well as adjustments to other popular benefits.

Retirement-readiness shocker: Healthier, wealthier retirees more satisfied

10/21/2024

There is a strong correlation between health, wealth and retirement satisfaction, according to new research by the Employee Benefit Research Institute. The group’s study found that people in good health were more likely to be satisfied with their retirement, regardless of their financial situation.

10 low-cost communication tips to start open enrollment right

09/23/2024

With benefits election open-enrollment season looming at organizations across the country, make sure you avoid the mistake too many employers make: plopping a benefits booklet in front of employees and telling them to figure it out. That just doesn’t work anymore. Benefits have become too complex for employees to figure them out on their own. Here are 10 ways you can do a better job of communicating with your employees.

Guidance clarifies student loan 401(k) matches

09/19/2024

Beginning with the 2024 plan year, SECURE 2.0, the 2022 401(k) reform law, allows you to make matching contributions into the 401(k) accounts of employees who self-certify that they’re repaying their student loans. Interim guidance issued by the IRS describes the self-certification process and sets other rules.

Retirees more confident about retirement income than working-age Americans are

09/16/2024

Seventy-four percent of retired Americans say they have enough money to live comfortably. Those who haven’t yet retired aren’t nearly as confident. Only 45% of current workers believe they will have enough money socked away to retire comfortably.

Legislative milestone: ERISA turns 50

09/03/2024

Among other things, ERISA requires sponsors of private employee benefit plans to provide participants and beneficiaries with adequate information regarding their plans. In addition, employer representatives who manage benefit plans must meet certain fiduciary standards of conduct.

Retirement-savings research: How to enhance your retirement benefits and encourage employees to save

08/14/2024

Balances of defined-contribution retirement plans such as 401(k)s and 403(b)s grew significantly between 2019 and 2021, according to a new study by the Public Retirement Research Lab. Whether your organization operates in the public or private sector, the study offers some key takeaways HR professionals can use to encourage employees to contribute to their defined-contribution retirement plans.

401(k) balances up 17% year over year

05/20/2024

The Bank of America Institute crunched the numbers, concluding that employees are contributing slightly more to their 401(k)s while borrowing against their funds less.

Survey: Most employees confident about their retirement readiness

05/13/2024

Two-thirds of employees say they are very or somewhat confident they will have enough money to live comfortably in retirement, according to the 34th annual Retirement Confidence Survey conducted in January by the Employee Benefit Research Institute and Greenwald Research.