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Showing entries with the topic “Communication & Education”.

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12

Mar 2020

Looking to Buy an Annuity? You May Already Have One!

Annuities, a form of investment that can provide a future stream of income payments to their owners, are aggressively marketed in retirement plans. And, it appears that the recent market uncertainties will only exacerbate the situation. While annuities serve as an important component in retirement p…

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05

Mar 2020

How to Delay and/or Avoid Required Minimum Distributions

While the SECURE Act raised the commencement age from age 70½ to 72 for required minimum distributions (RMDs), there are actually a number of other ways that retirement plan participants can delay and/or avoid minimum distribution requirements if they plan ahead. Consolidate pre-tax retirement plan…

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27

Feb 2020

Random Nuggets I’ve Learned from the Internet, 2nd Edition

One of the benefits of constantly consuming retirement-related content is that, even after 28 years in the retirement business (yes, I’m old!), there is still an endless number of things to learn. In the second edition of “Random Nuggets I’ve Learned from the Internet,” I cover some of those.While i…

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13

Feb 2020

Decumulation Confusion: Social Security Claiming Strategies

In Part 1 of our decumulation series, we discussed the oft-overlooked topic of decumulation, or the spending of retirement plan assets during retirement years. In Part 2, we explored annuities as a decumulation strategy and the associated confusion for retirees. In Part 3, we examined the 4% rule, a…

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09

Jan 2020

The Retirement Plan Terms to Avoid

At a recent That 401(k) Conference, I had pleasure of viewing a presentation on a defined contribution plan language study from Invesco that, to be frank, floored me. Common retirement plan terms, used by me and many others, scored terribly when deployed in participant communications – with some eve…

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19

Nov 2019

How Much Does My Retirement Plan Cost?

Here’s an exercise for you: navigate to your recordkeeper’s website and see if you can determine the exact amount you are paying for your retirement plan. If you’re a plan fiduciary or someone who works with retirement plan benefits, you already know this cost, but play along anyway - you may be sur…

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10

Oct 2019

The Competition for Retirement Savings Dollars

In order to increase participation and savings rates in their retirement plans, plan sponsors need to figure out why people don’t save - and then provide solutions to address that problem. Identifying the problem is easy; just about every survey I’ve seen has stated that the number one participant …

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03

Oct 2019

How a Financial Wellness Expo Became the Hottest Ticket in Town

One of the biggest challenges for financial wellness programs is engaging employees. But what if I told you that one plan sponsor figured out how to pack a convention center with 3,000 people for a financial wellness expo? Yes, that is not a typo: three thousand people! This is not some retirement p…

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26

Sep 2019

What I Learned from Reading My Retirement Plan Fee Disclosure

I have a confession to make: While I have written extensively on annual participant fee disclosures for retirement plans, I have never read the participant fee disclosure for my own plan! It’s a little embarrassing, given that I work in the retirement plan industry, but to me, the idea of reading a…

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