The first lawsuit over the use of ESG in a 401(k) has a few gaping holes — most notably that the lead plaintiff in the proposed class action wasn’t invested in any of the funds in question, defendant American Airlines said. In a motion to dismiss filed Friday, the airline...
Spousal consent would be required to start most distributions from 401(k) plans, under two companion bills sponsored by Democrats in Congress. The legislation aims to make defined-contribution plans more similar to traditional pensions in that regard. Unlike defined-benefit plans, DC plans aren’t legally required to make account holders get sign-off...
Cognitive decline is an unfortunate consequence of aging — one that affects as many as two-thirds of people. But new research suggests it hits several groups hardest: those who are white, male and have college degrees. Financial professionals say that the results underscore the importance of planning ahead for Alzheimer’s...
Saving for retirement isn’t going to be a priority for many workers when federal student loan payments resume this fall after a 3½-year hiatus. But an increasing number of employers are extending new perks to workers that recent legislation made possible, including loan repayment assistance and contributions to 401(k)s for...
Just when you think Medicare couldn’t get more complicated, it does. But in this case, the complication is a nice surprise. Did you know that when a Medicare beneficiary dies, their estate or family may be entitled to a refund? First, a little background about Medicare premium payments. When someone enrolls...
As America’s population ages, more people are likely to need long-term care in their retirement years and advisors need to bring up that conversation. The care issue is highlighted in a recent survey from the Nationwide Retirement Institute Long-Term Care survey, conducted in partnership with Limra, which found that some...
When household budgets are squeezed, it can be hard to prioritize finances for the future when bills need to be paid today. But such is the importance placed on retirement savings by millions of working Americans that continuing to make contributions to their 401(k) remains a priority even as stubborn...
No two ways about it, the retirement crisis is coming. And while lifetime income solutions like annuities may not solve the entire problem, they certainly won’t hurt. An estimated 40.6% of all U.S. households headed by someone aged 35 to 64 are projected to run short of money during retirement,...
The student loan debt crisis is so significant that a broad array of employers consider student loan assistance a substantial value-add to their employee offerings. Student loan repayment assistance is now becoming a priority for many employers because of the looming expiration of federal student loan forbearance enacted during...
When your clients are discussing their retirement plans with you, they may be thinking of relocating outside their current state, but are they planning to make a bad move? Decisions may be driven by several factors including the weather, being near other family members, or simply a long-held desire to...