In-Plan Annuities: Are they a viable option in DC plans?

In-Plan annuities. An alternative to company pensions. An alternative to externally purchased annuities. Perhaps the best of both worlds? So what is preventing wider adoption? This article on PlanSponsor refers to a webcast on this topic sponsored by NAGDCA. The pros and cons listed in the last few slides of the presentation are informative, educational, … Continue reading In-Plan Annuities: Are they a viable option in DC plans?

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A holistic approach to financial independence during retirement

Financial independence during retirement. Try to visualize what this means to you. Now, as an employer, think about how your employees visualize financial independence during retirement. Do you see any differences? How we address these differences, either as an employee, or as an employer, is where we have the largest potential for a better outcome … Continue reading A holistic approach to financial independence during retirement

National Save for Retirement Week – An opportunity to step back, review, plan, and act

Proactive planning. Something most people know is needed, but are either not able to do, or cannot do - because of a multitude of reasons, some within, and many outside our control. This is what I thought of when I reviewed this article on PlanSponsor that analyzes a Wells Fargo annual survey on retirement readiness. … Continue reading National Save for Retirement Week – An opportunity to step back, review, plan, and act

Savings goal – how do we determine it and why is it difficult to do so?

Nest egg. The accumulated amount to generate income during retirement. What is that magic number? An elusive reality. This article by PlanSponsor cites guidelines that suggests a factor of salary that should be accumulated at various ages. What makes this determination a complex process are all the variables that influence this number - the uncertainties … Continue reading Savings goal – how do we determine it and why is it difficult to do so?

How can we promote the need for retirement readiness with a well thought out communication strategy

Communication. Think about how it impacts our decision making in everything. With so much information coming at us on a daily basis, via all our "stay connected" devices, for work, non-work, and everything else in between, it becomes even more important to be very specific in communicating all the aspects of retirement readiness, including timing … Continue reading How can we promote the need for retirement readiness with a well thought out communication strategy

How would you address this challenge?

Will we truly get there? How? With the recent drumbeat of retirement readiness concerns, there is no shortage of industry surveys, research papers, and studies being published at an increasingly rapid pace to draw people's attention to this widely acknowledged challenge. Here is one such article published by PlanSponsor that quotes a recent survey conducted … Continue reading How would you address this challenge?

The journey continues …

Retirement. The theme of this blog, prompting thought provoking questions to our readers with the intention of planning for retirement. More often than not, most everyone thinks about the accumulation component. The other side of the equation is the drawdown aspect. Two sides of the same coin. One cannot exist without the other. If you … Continue reading The journey continues …

Are there other ways to increase enrollment, in addition to auto-enrolling?

What is the best way to engage, interest, and entice new employees to participate in the 401(k) savings plan? This article posted by PlanSponsor contains reference to a white paper by Diversified that suggests reducing the content to delve through to improve enrollment rates. In the new era of ubiquitous social media presence, are there … Continue reading Are there other ways to increase enrollment, in addition to auto-enrolling?

Engaging younger employees to think about retirement challenging

As the title of this post suggests, it is not easy to engage younger employees to think about retirement. As this PlanSponsor article observes, one way to address this issue is to use the power of inertia and auto-enroll younger employees in the retirement plan when they start working, with the expectation that they will … Continue reading Engaging younger employees to think about retirement challenging

Implications of an aging workforce

According to the article by Mr. Fred Reish quoted on PlanSponsor, with so many of us living longer, there will be far reaching implications on the economy, employers, and companies that provide services to an aging work force. As you read the article, give some thought to: 1) What does this mean for you? How … Continue reading Implications of an aging workforce