Q: We know that emotion plays a role in money, and therefore retirement. What are some ways we can help employees offset less-than-rational emotion and thus make better decisions about their retirements? A: Behavioral economics have been the subject of much discussion in recent years, as you know. Money is a deeply personal subject for [...]
Q: In reviewing employment data at our company, we were surprised to find the average time our employees stay with us to be about 6 years. Considering that many employees who leave us take a lump sum distribution from their 401(k) accounts, it made us wonder what we can do help more transient employees prepare [...]
Looking to max out your contributions to your retirement plan? Here are your limits: 401(k) Maximum Participant Deferral $19,000* *$25,000 for those age 50 or over, if the plan permits Defined Contribution Maximum Annual Addition $56,000 Highly Compensated Employee Threshold $125,000 Annual Compensation Limit $280,000 Remember: There's still time to set up your Safe Harbor [...]
Financial wellness and financial literacy is important for individuals and their employers, in part because of the role it may play in retirement. Individuals benefit when they are financially healthy, because it makes them more prepared to retire on time and with enough money. Companies benefit, too, because along with the potential for better-controlled benefit- [...]
As an employer, you face a challenge: attracting and retaining the right talent is necessary to drive your business forward. At the same time, you likely feel a responsibility to help your employees achieve retirement financially prepared. Your 401(k) plan can help manage both of these goals. Keeping an eye on the latest trends and [...]
They could be among the most memorable journeys you take. Travel with a difference: the essence of the volunteer vacation. You take the trip, you help make the difference for others, and perhaps you see the world differently as a byproduct. If you are thinking about combining travel with some service, there are things you [...]
Here are the facts. Generally speaking, women earn less than men, live longer than men, and often take time out of the workforce to have children and/or to care for an aging parent or sick loved one. The potential consequence of these realities? While most U.S. workers are facing a retirement savings deficit, for women, [...]
The managers of well-run businesses usually name "backups" to keep things going smoothly -- just in case. That's also a smart plan for your personal finances, where you risk experiencing financial losses or other difficulties if you can't make your own decisions because of a long illness or other unexpected problem. You might prepare for [...]
Two studies link parenting and productivity. Being a mom may make you a more productive worker. Two recent studies have made that claim, and the flextime often requested by working moms may be a contributing factor. Ernst & Young research concluded that, on average, women working flexible hours wasted less time at work (11.1% of [...]
Looking for ways to Save and Invest? Automate your retirement planning and wealth-building approach. Build your emergency fund with automatic transfers. Practically any bank or credit union can arrange daily, weekly, or per-paycheck transfers of money from a checking account into a savings account, or split your incoming paycheck into percentages going to both accounts. [...]
