Three key themes emerged from the latest DC market research: 1) Plans are using automated services like automatic enrollment and escalation to overcome employees' irrational saving behaviors; 2) Plans are offering retirement readiness tools to address employees' overconfidence in light of stagnating savings rates; 3) Plans are innovating products and services to accommodate changing attitudes as Baby Boomers begin retirement, expecting to remain productive and work part-time. The review highlights opportunities for plans to better educate employees and improve retirement outcomes.
The document discusses recent developments in employee benefits, specifically focusing on "de-risking" pension plans. It notes that de-risking actually involves transferring risks to other parties rather than fully eliminating them. There are a few main types of risk transfers: 1) exchanging a volatile risk for a more predictable long-term risk, 2) transferring risks to an insurance company in exchange for a specific cost through annuity purchases, and 3) paying lump sums to plan participants instead of monthly benefits. The key point is that while de-risking strategies aim to reduce a company's risk exposure, the risks are actually shifted to other entities rather than disappearing completely.
How to Find More Prospects for Your Membership OrganizationStarChapter
The document provides tips for growing membership in an organization. It recommends encouraging current active members to invite colleagues and associates to join. The document also suggests promoting the organization on professional networking websites, planning events to reconnect with inactive past members, and collaborating with related community groups. Additionally, it advises taking advantage of social media platforms and redesigning strategies to attract new talented members.
The Optimum Clustering Framework: Implementing the Cluster Hypothesisyaevents
The document proposes a framework for optimum document clustering based on the cluster hypothesis. It defines a cluster metric called pairwise precision that evaluates how well a clustering groups together documents that are relevant to the same queries. The metric considers the number of document pairs that are both relevant or both irrelevant to a query within each cluster. The framework aims to find the clustering that maximizes this metric to optimally satisfy the cluster hypothesis. The document outlines experiments to test the framework and examine whether it leads to improved clustering over traditional methods.
Распределенная система тестирования машинного переводаyaevents
В докладе рассмотрены принципы построения распределенных систем на примере системы тестирования машинного перевода. Под распределенной системой понимается система использующая большое количество компьютеров для решения задач, требующих очень большого количества процессорного времени. Особое внимание уделено вопросам отказоустойчивости и масштабируемости системы.
REACH - Accesshantering i realtid för ökad transporteffektivitetPer Olof Arnäs
Presentation av forskningsprojektet REACH.
Ambitionen med REACH är att, genom digital realtidsinteraktion, möjliggöra individualiserade nyttor för enskilda transporter beroende på situationsspecifik data.
Vi vill inom projektet utveckla kunskap som möjliggör avancerat samarbete i realtid mellan infrastruktur/facilitet och fordon/farkost.
What's keeping reward professionals awake at night survey resultsClaire Atherton
The survey found that the top three issues keeping reward professionals awake at night were: (1) the pressure to drive performance while cutting costs, (2) problems attracting the right people, and (3) not having a clear reward strategy. Respondents indicated that having up-to-date best practices would most help them in their day-to-day jobs. Career development opportunities and long-term incentives were seen as most motivating for employees. However, many respondents felt their reward strategies were not well aligned with organizational strategy or culture. Benchmarking pay was still viewed as the main way to measure success of a reward program.
The document discusses recent developments in employee benefits, specifically focusing on "de-risking" pension plans. It notes that de-risking actually involves transferring risks to other parties rather than fully eliminating them. There are a few main types of risk transfers: 1) exchanging a volatile risk for a more predictable long-term risk, 2) transferring risks to an insurance company in exchange for a specific cost through annuity purchases, and 3) paying lump sums to plan participants instead of monthly benefits. The key point is that while de-risking strategies aim to reduce a company's risk exposure, the risks are actually shifted to other entities rather than disappearing completely.
How to Find More Prospects for Your Membership OrganizationStarChapter
The document provides tips for growing membership in an organization. It recommends encouraging current active members to invite colleagues and associates to join. The document also suggests promoting the organization on professional networking websites, planning events to reconnect with inactive past members, and collaborating with related community groups. Additionally, it advises taking advantage of social media platforms and redesigning strategies to attract new talented members.
The Optimum Clustering Framework: Implementing the Cluster Hypothesisyaevents
The document proposes a framework for optimum document clustering based on the cluster hypothesis. It defines a cluster metric called pairwise precision that evaluates how well a clustering groups together documents that are relevant to the same queries. The metric considers the number of document pairs that are both relevant or both irrelevant to a query within each cluster. The framework aims to find the clustering that maximizes this metric to optimally satisfy the cluster hypothesis. The document outlines experiments to test the framework and examine whether it leads to improved clustering over traditional methods.
Распределенная система тестирования машинного переводаyaevents
В докладе рассмотрены принципы построения распределенных систем на примере системы тестирования машинного перевода. Под распределенной системой понимается система использующая большое количество компьютеров для решения задач, требующих очень большого количества процессорного времени. Особое внимание уделено вопросам отказоустойчивости и масштабируемости системы.
REACH - Accesshantering i realtid för ökad transporteffektivitetPer Olof Arnäs
Presentation av forskningsprojektet REACH.
Ambitionen med REACH är att, genom digital realtidsinteraktion, möjliggöra individualiserade nyttor för enskilda transporter beroende på situationsspecifik data.
Vi vill inom projektet utveckla kunskap som möjliggör avancerat samarbete i realtid mellan infrastruktur/facilitet och fordon/farkost.
What's keeping reward professionals awake at night survey resultsClaire Atherton
The survey found that the top three issues keeping reward professionals awake at night were: (1) the pressure to drive performance while cutting costs, (2) problems attracting the right people, and (3) not having a clear reward strategy. Respondents indicated that having up-to-date best practices would most help them in their day-to-day jobs. Career development opportunities and long-term incentives were seen as most motivating for employees. However, many respondents felt their reward strategies were not well aligned with organizational strategy or culture. Benchmarking pay was still viewed as the main way to measure success of a reward program.
The document discusses how cognitive computing can help insurance companies overcome challenges in engaging customers, discovering insights, and making decisions. It notes that insurance companies face disruptive forces like digitization, rising customer expectations, and economic volatility. To navigate these challenges, successful insurers need to excel in customer engagement, discovering insights, and decision making. However, many insurers struggle to meet rising customer demands for personalized experiences and lack innovation capabilities. The document argues that cognitive computing can help insurers engage customers better, foster innovation, and make more accurate and timely decisions. A survey found that most insurance executives believe cognitive computing will disrupt their industry and plan to invest in the technology.
This document introduces a new tool called PDRP Plus that provides a probability distribution of a client's major unknown retirement expenses, such as health care costs, long-term care costs, prescription drugs, and longevity. PDRP Plus can help financial planners more accurately calculate the chance that a client will meet their retirement goals by incorporating these probabilistic expense factors. It aims to provide advantages over traditional financial projections that may overstate or understate a client's chances of success. The tool produces customized analyses for individual clients based on their profile and planned retirement expenses.
A recent survey, conducted by Veris Consulting and Brittenford Systems, questioned Non-Profit executives in the Washington DC Metro area about the 2013 financial outlook for their organization including:
Financial or Business Outlook
Financial Reporting Practices
Financial Systems
The survey report provides non-profit executives and boards with valuable insights on the financial outlook and the top priorities and challenges facing nonprofits in 2013. Also, the report has detailed summaries and graphs on these aspects including financial and business outlook, financial reporting practices, and financial systems.
DC plans have largely failed to adequately prepare U.S. workers for retirement, leaving many relying solely on Social Security. By 2025, more employers are expected to adopt characteristics of successful pension plans to help employees create a fully funded retirement income stream. This includes improving investment governance, increasing savings contributions, utilizing more efficient portfolios, and providing tools to help employees translate savings into reliable monthly retirement income to replace lost pensions.
1. Machine learning substantially outperforms traditional credit risk modeling in approval rates and additional credit originated.
2. Robust explainability of machine learning models is required for regulatory compliance and model risk management.
3. With accurate explainability techniques and advanced mathematics, machine learning can deliver more profitable and fair credit decisions while maintaining high accuracy.
Shared Service Centers: Risks & Rewards in the Time of CoronavirusCognizant
Our recent research reveals that organizations are reassessing the pros and cons of captive services. Companies are twice as likely to reduce than increase their use of shared service centers.
This document discusses 10 trends shaping the life insurance industry landscape:
1. Steady industry growth, but underlying issues of underinsurance and lack of innovation persist.
2. Insurers are challenged to rationalize legacy systems while maintaining valuable historical business, constraining growth.
3. Some insurers are outsourcing administration and systems management to leverage partnerships and convert costs.
4. Regulatory changes increase need for flexibility but also interfere with modernization efforts.
Lockton provides benefits administration services including vendor selection, implementation oversight, project management, and situational analysis. Benefits administration is the process of establishing, maintaining, and managing benefits for employees. Approximately 91.3% of Lockton clients use or plan to use an online benefits administration system, which typically costs $3-6 per employee per month. Benefits administration systems provide functionalities like life events, communications, decision support tools, and COBRA administration to improve automation and reporting.
To Catch a Phish, or: Why You Must Automate Email Security Catherine Arizan
Targeted phishing has become the single most effective attack type in the world today, and attackers’ emphasis on social engineering tactics make the protection of cloud communication platforms a critical component of any cybersecurity strategy.
Applying Automation to What Ails HealthcareCognizant
Process automation could enable healthcare organizations to deliver streamlined but richer member and patient experiences while reducing costs. Yet our research shows payers may be approaching automation too conservatively and missing opportunities for substantial cost savings and more efficient operations.
Grading the Pensions Protection Act, 10 Years LaterCallan
Do you remember the Pension Protection Act (PPA)? More than 900 pages of legislation touching seemingly every part of the retirement system. It presented challenges for defined benefits plans. Defined contribution (DC) plans instead saw beneficial provisions, including the permanence of certain provisions of the 2001 Economic Growth Tax Relief Reconciliation Act (EGTRRA) and the creation of safe harbors for using target date funds as defaults and for implementing automatic enrollment.
The PPA heralded a new era for DC plans with the potential to greatly increase workers’ access to retirement income security. But looking at the PPA’s report card, we do not see “straight As” over the last decade.
Many of the provisions took years to enact, and plan sponsors still seem to struggle with them. As the PPA celebrates 10 years, we ask: Was it successful? Did it transform DC plans in the way the industry had hoped? How can we do better?
Callan gives a grade to the performance of nine key PPA provisions over the past decade. We start with the least effective.
Managing clinical variation is the most important task in healthcare. Clinical variation management requires machine intelligence to understand and reduce unwarranted differences in patient outcomes and costs. An AI-powered clinical variation management application can automate the grouping of similar patient procedures, use an organization's own data to surface clinical pathways, and allow for the quantitative comparison of all sources of variation and their impacts in an unbiased way.
This document summarizes a study on managing remote workforces. Some key findings include:
- Over 50% of professionals now work remotely at least half the time, showing remote work is becoming more common.
- While technology enables remote work, successful remote management requires additional training on managing at a distance.
- Many companies use monitoring systems and video calls to help remote managers and improve communication.
- Remote working is expected to continue growing significantly, with some predictions that over 50% of employees may work remotely within the next decade. This could provide benefits to businesses, employees, and transportation systems.
1) Demand for healthcare actuaries is skyrocketing due to recent healthcare reforms that have expanded health insurance coverage as well as an aging population. Organizations need more actuaries to evaluate the effects of new laws, develop products, and assist with pricing.
2) Technological advances like drones, driverless cars, and telematics are disrupting traditional insurance practices and presenting new risks. Actuaries must keep up with rapid technological change and embrace disruption.
3) Increasing regulations are leading to a push for more model validation as actuaries' models are being continually checked to ensure they meet regulatory requirements.
Pension schemes in the UK include the basic state pension as well as contract-based and national employment savings pensions, with automatic enrolment requiring employers to enroll eligible employees into a pension scheme and make minimum contributions. A default option is the pre-selected pension investment used when an employee does not make a choice, and most employees end up in the default option due to inertia, apathy and lack of financial confidence. Reforms in 2012 aimed to increase private pension participation through mandatory automatic enrolment of eligible workers into pensions with default investment options in order to boost savings for retirement.
This report, conducted by an independent research firm and commissioned by Upwork, uses data from two surveys of U.S. hiring managers: one fielded in November 2019 prior to the COVID-19 crisis, and the other fielded during the crisis in April 2020. The surveys polled a combined 1,500 U.S. hiring managers to provide a holistic picture of workforce trends impacting business organizations. Find out how companies are building for the future.
This document summarizes a survey analyzing receivables practices in American corporations. The survey was conducted through a mail survey of 89 credit managers from American firms. The survey covered presale, postsale, and ongoing receivables issues. Key findings included that firms use multiple methods for credit decisions and monitoring to decrease costs while minimizing late payments. Firms also set credit limits and used varied collection methods to speed cash flows. The conclusion was that overall, the surveyed firms' receivables practices worked to maximize shareholder wealth through decreased costs and increased cash flows. However, the small sample size limited generalization of the results.
- Cloud-based financial tools are emerging as a solution for CFOs to save money, maximize efficiency and drive growth, but many CFOs remain unfamiliar with these tools.
- A survey found that while CFOs know of the cloud in general, most are unaware of new tools designed for finance departments, so they continue relying on paper and Excel.
- Early adopters of cloud-based financial systems report improved cash flow visibility and receivables/payables processes, indicating first-mover advantage.
The document discusses how digital technologies are converging and disrupting healthcare delivery. It outlines three potential scenarios for this disruption: transformation, evolution, and revolution. It also discusses how capital investment in digital health solutions has grown significantly in recent years. The document outlines several emerging solution archetypes and how digital technologies could significantly impact providers by enabling automation and efficiency, developing patient loyalty, increasing transparency and performance management, enabling coordinated and personalized care, and more. It provides guidelines for healthcare organizations to manage digital transformation.
This document is a newsletter from Homestead Funds that provides information and advice to shareholders who are retired or nearing retirement. It discusses strategies for generating retirement income, managing investments, and preparing for retirement. It provides tips tailored to different stages leading up to retirement, such as focusing on capital preservation and withdrawing strategically from taxable accounts in early retirement. It also promotes the benefits of systematic investing during volatile markets.
The Baltimore office of StockS held a food drive in February to help stock food banks during their lean period after the holidays. Employees donated nearly 300 food items, exceeding the goal of 120 items. The food was donated to the Maryland Food Bank, which saw a large increase in demand for its services last year due to the economic recession. The food drive helped stock food bank shelves during their typically low inventory time in winter.
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The document discusses how cognitive computing can help insurance companies overcome challenges in engaging customers, discovering insights, and making decisions. It notes that insurance companies face disruptive forces like digitization, rising customer expectations, and economic volatility. To navigate these challenges, successful insurers need to excel in customer engagement, discovering insights, and decision making. However, many insurers struggle to meet rising customer demands for personalized experiences and lack innovation capabilities. The document argues that cognitive computing can help insurers engage customers better, foster innovation, and make more accurate and timely decisions. A survey found that most insurance executives believe cognitive computing will disrupt their industry and plan to invest in the technology.
This document introduces a new tool called PDRP Plus that provides a probability distribution of a client's major unknown retirement expenses, such as health care costs, long-term care costs, prescription drugs, and longevity. PDRP Plus can help financial planners more accurately calculate the chance that a client will meet their retirement goals by incorporating these probabilistic expense factors. It aims to provide advantages over traditional financial projections that may overstate or understate a client's chances of success. The tool produces customized analyses for individual clients based on their profile and planned retirement expenses.
A recent survey, conducted by Veris Consulting and Brittenford Systems, questioned Non-Profit executives in the Washington DC Metro area about the 2013 financial outlook for their organization including:
Financial or Business Outlook
Financial Reporting Practices
Financial Systems
The survey report provides non-profit executives and boards with valuable insights on the financial outlook and the top priorities and challenges facing nonprofits in 2013. Also, the report has detailed summaries and graphs on these aspects including financial and business outlook, financial reporting practices, and financial systems.
DC plans have largely failed to adequately prepare U.S. workers for retirement, leaving many relying solely on Social Security. By 2025, more employers are expected to adopt characteristics of successful pension plans to help employees create a fully funded retirement income stream. This includes improving investment governance, increasing savings contributions, utilizing more efficient portfolios, and providing tools to help employees translate savings into reliable monthly retirement income to replace lost pensions.
1. Machine learning substantially outperforms traditional credit risk modeling in approval rates and additional credit originated.
2. Robust explainability of machine learning models is required for regulatory compliance and model risk management.
3. With accurate explainability techniques and advanced mathematics, machine learning can deliver more profitable and fair credit decisions while maintaining high accuracy.
Shared Service Centers: Risks & Rewards in the Time of CoronavirusCognizant
Our recent research reveals that organizations are reassessing the pros and cons of captive services. Companies are twice as likely to reduce than increase their use of shared service centers.
This document discusses 10 trends shaping the life insurance industry landscape:
1. Steady industry growth, but underlying issues of underinsurance and lack of innovation persist.
2. Insurers are challenged to rationalize legacy systems while maintaining valuable historical business, constraining growth.
3. Some insurers are outsourcing administration and systems management to leverage partnerships and convert costs.
4. Regulatory changes increase need for flexibility but also interfere with modernization efforts.
Lockton provides benefits administration services including vendor selection, implementation oversight, project management, and situational analysis. Benefits administration is the process of establishing, maintaining, and managing benefits for employees. Approximately 91.3% of Lockton clients use or plan to use an online benefits administration system, which typically costs $3-6 per employee per month. Benefits administration systems provide functionalities like life events, communications, decision support tools, and COBRA administration to improve automation and reporting.
To Catch a Phish, or: Why You Must Automate Email Security Catherine Arizan
Targeted phishing has become the single most effective attack type in the world today, and attackers’ emphasis on social engineering tactics make the protection of cloud communication platforms a critical component of any cybersecurity strategy.
Applying Automation to What Ails HealthcareCognizant
Process automation could enable healthcare organizations to deliver streamlined but richer member and patient experiences while reducing costs. Yet our research shows payers may be approaching automation too conservatively and missing opportunities for substantial cost savings and more efficient operations.
Grading the Pensions Protection Act, 10 Years LaterCallan
Do you remember the Pension Protection Act (PPA)? More than 900 pages of legislation touching seemingly every part of the retirement system. It presented challenges for defined benefits plans. Defined contribution (DC) plans instead saw beneficial provisions, including the permanence of certain provisions of the 2001 Economic Growth Tax Relief Reconciliation Act (EGTRRA) and the creation of safe harbors for using target date funds as defaults and for implementing automatic enrollment.
The PPA heralded a new era for DC plans with the potential to greatly increase workers’ access to retirement income security. But looking at the PPA’s report card, we do not see “straight As” over the last decade.
Many of the provisions took years to enact, and plan sponsors still seem to struggle with them. As the PPA celebrates 10 years, we ask: Was it successful? Did it transform DC plans in the way the industry had hoped? How can we do better?
Callan gives a grade to the performance of nine key PPA provisions over the past decade. We start with the least effective.
Managing clinical variation is the most important task in healthcare. Clinical variation management requires machine intelligence to understand and reduce unwarranted differences in patient outcomes and costs. An AI-powered clinical variation management application can automate the grouping of similar patient procedures, use an organization's own data to surface clinical pathways, and allow for the quantitative comparison of all sources of variation and their impacts in an unbiased way.
This document summarizes a study on managing remote workforces. Some key findings include:
- Over 50% of professionals now work remotely at least half the time, showing remote work is becoming more common.
- While technology enables remote work, successful remote management requires additional training on managing at a distance.
- Many companies use monitoring systems and video calls to help remote managers and improve communication.
- Remote working is expected to continue growing significantly, with some predictions that over 50% of employees may work remotely within the next decade. This could provide benefits to businesses, employees, and transportation systems.
1) Demand for healthcare actuaries is skyrocketing due to recent healthcare reforms that have expanded health insurance coverage as well as an aging population. Organizations need more actuaries to evaluate the effects of new laws, develop products, and assist with pricing.
2) Technological advances like drones, driverless cars, and telematics are disrupting traditional insurance practices and presenting new risks. Actuaries must keep up with rapid technological change and embrace disruption.
3) Increasing regulations are leading to a push for more model validation as actuaries' models are being continually checked to ensure they meet regulatory requirements.
Pension schemes in the UK include the basic state pension as well as contract-based and national employment savings pensions, with automatic enrolment requiring employers to enroll eligible employees into a pension scheme and make minimum contributions. A default option is the pre-selected pension investment used when an employee does not make a choice, and most employees end up in the default option due to inertia, apathy and lack of financial confidence. Reforms in 2012 aimed to increase private pension participation through mandatory automatic enrolment of eligible workers into pensions with default investment options in order to boost savings for retirement.
This report, conducted by an independent research firm and commissioned by Upwork, uses data from two surveys of U.S. hiring managers: one fielded in November 2019 prior to the COVID-19 crisis, and the other fielded during the crisis in April 2020. The surveys polled a combined 1,500 U.S. hiring managers to provide a holistic picture of workforce trends impacting business organizations. Find out how companies are building for the future.
This document summarizes a survey analyzing receivables practices in American corporations. The survey was conducted through a mail survey of 89 credit managers from American firms. The survey covered presale, postsale, and ongoing receivables issues. Key findings included that firms use multiple methods for credit decisions and monitoring to decrease costs while minimizing late payments. Firms also set credit limits and used varied collection methods to speed cash flows. The conclusion was that overall, the surveyed firms' receivables practices worked to maximize shareholder wealth through decreased costs and increased cash flows. However, the small sample size limited generalization of the results.
- Cloud-based financial tools are emerging as a solution for CFOs to save money, maximize efficiency and drive growth, but many CFOs remain unfamiliar with these tools.
- A survey found that while CFOs know of the cloud in general, most are unaware of new tools designed for finance departments, so they continue relying on paper and Excel.
- Early adopters of cloud-based financial systems report improved cash flow visibility and receivables/payables processes, indicating first-mover advantage.
The document discusses how digital technologies are converging and disrupting healthcare delivery. It outlines three potential scenarios for this disruption: transformation, evolution, and revolution. It also discusses how capital investment in digital health solutions has grown significantly in recent years. The document outlines several emerging solution archetypes and how digital technologies could significantly impact providers by enabling automation and efficiency, developing patient loyalty, increasing transparency and performance management, enabling coordinated and personalized care, and more. It provides guidelines for healthcare organizations to manage digital transformation.
Similar to Annual Report: Defined Contribution Trends (20)
This document is a newsletter from Homestead Funds that provides information and advice to shareholders who are retired or nearing retirement. It discusses strategies for generating retirement income, managing investments, and preparing for retirement. It provides tips tailored to different stages leading up to retirement, such as focusing on capital preservation and withdrawing strategically from taxable accounts in early retirement. It also promotes the benefits of systematic investing during volatile markets.
The Baltimore office of StockS held a food drive in February to help stock food banks during their lean period after the holidays. Employees donated nearly 300 food items, exceeding the goal of 120 items. The food was donated to the Maryland Food Bank, which saw a large increase in demand for its services last year due to the economic recession. The food drive helped stock food bank shelves during their typically low inventory time in winter.
Despite busy schedules, employees in the Baltimore office rallied together to donate toys to Toys for Tots and participate in a cookie exchange. Over 65 toys were collected for Toys for Tots by Lynn Beamon, a former Marine, continuing a tradition she started four years ago. For the annual cookie exchange, started five years ago by Wendy Evans, employees gathered before Christmas to trade homemade cookies. The office will also hold a food drive after the holidays to replenish local food pantries drained during the Christmas season.
The Friends of the Towson Library funded several successful library programs in 2010 through their generous donations, including animal programs, craft programs, music performances, and exhibits related to Abraham Lincoln. Their funding also supported the library's summer reading program and allowed the borrowing of educational materials. The Friends' annual book sale in April 2010 was again very successful, raising over $11,000 for the library.
Vonda Kouka, the United Way Coordinator for a Baltimore office, organized a month of fun fundraising activities to help surpass her annual giving goal for United Way. Some of the activities included employees paying to wear their favorite sports jerseys, attend a magic show lunch, or wear crazy hats and socks. The most popular activity was managers taking pies to the face, raising over $200. Through Vonda's creative events and reminders, the office was able to raise $7,000 for United Way, helping people in the local community.
The document is a quarterly newsletter for Homestead Funds shareholders. It discusses Homestead Funds celebrating 20 years of investing for shareholders, preparing for retirement by estimating expenses, longevity, and income sources, and provides a spotlight on the bond funds managed by Homestead Funds.
This document provides a summary of articles in a quarterly newsletter for shareholders of Homestead Funds. The first article discusses how client service associates at Homestead Funds aim to provide helpful, friendly service to shareholders by treating them like family. The second article reviews stock market performance one year after major declines in 2008-2009. The third article spotlights the Value Fund and its long-term focus on undervalued stocks. The last section provides a summary of fund performance figures for the quarter.
The document summarizes a tour of the I-95 express toll lane reconstruction project in Maryland given to marketing professionals. The $1.4 billion project involves reconstructing 10 miles of I-95 to add two express toll lanes in each direction, and redesigning the complex I-95/I-695 interchange. The project improves traffic flow, reduces congestion through the use of electronic tolling, and has received awards for its engineering and construction work.
This document provides helpful tips for investors to understand their tax responsibilities regarding mutual fund investments. It explains that tax-deferred accounts like IRAs defer taxes until withdrawals, while regular taxable accounts require paying taxes on fund earnings each year. The document lists forms and documents investors will need come tax time, including year-end statements, Form 1099-DIV, and Form 1099-B, to determine taxes owed on distributions and capital gains or losses. It aims to simplify understanding tax rules and responsibilities for mutual fund investors.
This document provides information about options for a 401(k) account when leaving a job or retiring. The main options are leaving the money in the current 401(k), rolling it over to an IRA, transferring to a new employer's 401(k), or withdrawing the funds. Rolling over to a Homestead Funds IRA is presented as one choice that provides investment options and control over access to funds. Key details are provided about rolling over to a Roth IRA and the tax implications. Overall the document aims to help readers understand their choices for managing 401(k) savings after leaving a job.
This document provides helpful tips for saving for education expenses through different account options like Education Savings Accounts (ESAs) and UGMA/UTMA accounts. It compares the key features of these accounts such as contribution limits, tax benefits, and restrictions on use of funds. ESAs allow tax-deferred growth and tax-free withdrawals for qualified education expenses, but contributions are not tax-deductible. UGMA/UTMA accounts require funds be used for the child's benefit, with the child gaining control at age of majority. The document recommends considering which account best fits savings goals and level of control desired.
This document is a quarterly newsletter from Homestead Funds providing information to shareholders. The main articles discuss tax planning for 2010, including using tax-deferred accounts to defer taxes and avoid penalties. It also notes a new reason to consider converting traditional IRAs to Roth IRAs in 2010. Brief news items announce staff changes and recent press mentions. It concludes with guidance on which fund documents to keep and which can be discarded.
The document provides information about enrolling in the ABC Company 401(k) Savings Plan. It encourages the reader to take the first step towards saving for retirement by enrolling in the plan. It summarizes the benefits of participating, including employer matching contributions, tax benefits, and convenience. It also provides instructions on how to select investments and how to enroll in 3 easy steps by calling a phone number, visiting a website, or mailing enrollment forms. The overall message is that now is the time to start planning and saving for retirement by taking advantage of the 401(k) plan offered by the company.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
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Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
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Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
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Introduction
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3. Three major themes move to the forefront
The latest DC market research shows how plans continue to evolve by:
• Propelling employees beyond their irrational behaviors
In response to behavioral finance studies documenting irrational saving and investing
tendencies, plans are using new approaches to move employees toward financial security.
• Building momentum to improve retirement preparedness
Despite the stagnating savings rate, workers’ misplaced confidence about their financial
preparation grows. Plans are offering services to enhance retirement readiness, even as the
idea of a traditional retirement disappears.
• Accelerating into a new future
Plans are confronting changing attitudes as the Baby Boom generation begins its long
march into what have been traditionally called “the retirement years.” Product and service
innovations proliferate as plans work to keep pace.
This review will help you learn on-the-go so you can accelerate into the constantly changing future.
1 DC Market Review
4. Propelling employees beyond their irrational beha
Behavioral finance studies show that educating Plans using automatic enrollment
employees is not enough to motivate them to
35%
save and invest rationally. They continue to be
30.6%
driven by fear. In response, more DC plans now
Percent of plans using automatic enrollment
30
offer a range of automated participant services.
25
Automatic enrollment, salary deferral increase,
and investment services continued to grow in 20 18.2%
popularity in 2005.
15
Of course, automatic services are not a panacea. 9.8%
10
An average of 10.5% of plans use automatic
enrollment, up from 8.4% in 2003. It typically 5 3.4%
results in participation rates from 85% to 95%, up 0.9%
from the national average of 75%.1 The most 0
1-49 50-199 200-999 1,000-4,999 5,000+
common default deferral percentage is 3% of pay,
Number of Employees
present in 55.8% of plans.
Source: Profit Sharing/401(k) Council of America’s 48th Annual
The problem of too much choice Survey, 2005.
Asking participants to select among a vast array The larger the plan, the more likely it is to
of investment options may result in information have adopted automatic enrollment. Often,
overload, which can lead to making poor decisions larger plans lead the way and suggest the
or none at all.2 This overload reaction appears in services that will become more important
everyday consumer transactions. A behavioral among smaller plans in the future.
experiment conducted in a grocery store included
two displays of jams: One had six flavors, the other
24. The 24-jam display attracted six out of 10 shop-
pers, but only 3% bought a jar there compared to
30% buying a jar at the display with six choices.
DC Market Review 2
5. aviors
Reconsidering the defaults Employees rate appeal of plan features on decision to enroll
In the past, plan sponsors typically used a money
market option as their default investment because Target date-based fund 66%
it is considered a safe, short-term option. But that Automatic increase 55%
same inertia that kept employees from voluntarily
enrolling, also keeps them from moving their Matching contribution (up to 3% of employee pay) 51%
money into a long-term allocation that may better Lifestyle fund (a fixed allocation) 49%
meet their retirement investing goals. Now more
Managed account 35%
plans are reevaluating the default investment
option and choosing target date-based funds as a
0% 10% 20% 30% 40% 50% 60% 70%
more appropriate solution.
Percent of employees who would be likely to enroll because of each feature
Source: EBRI 2005 Retirment Confidence Survey.
By automatically investing participants’ assets in
target date-based funds, sponsors may protect Eligible employees rated these as the top five features that would make them “much more” or “somewhat
themselves from fiduciary concerns related to more” likely to participate in the plan if offered.
poor allocation. For example, many plan partici-
pants offered company stock tend to overindulge
A match that fails to spark
in it. Among plans that offer company stock and
Research designed to isolate the impact of the
no stable value option, nearly 27% of the account
match reveals that it may not pack as much punch
balances of the plan are in company stock. About
as previously thought. While the match certainly
a quarter of those who invested in company MOVING YOUR BUSINESS AHEAD
appeals to a majority of employees, researchers
stock have more than 40% of their account bal- • Do we (or are we considering) offering automated
have discovered that about 60% of non-highly
ance in it.3 plan services?
compensated workers would participate in the
plan regardless of the match. The match would • Have we evaluated our investment lineup to
induce just 10% more to join the plan.4 assess if it results in information overload?
• If automatic enrollment is used, have we recently
evaluated the default investment option?
• In what ways do we assess the real impact of our
plan features and design on participant behavior?
3 DC Market Review
6. Building momentum to improve retirement prepare
In the story Alice in Wonderland, nonsense reigns Workers’ beliefs lack a factual basis
and the illogical is celebrated. Each year, findings At the root of workers’ misplaced confidence is a
from the Employee Benefit Research Institute lack of knowledge. For example, EBRI’s survey
(EBRI) Retirement Confidence Survey uncover shows that 66% believe they will reach their sav-
workers’ own version of a retirement wonderland. ings goal by the time they stop working, even
It is a world in which employees say they are con- though they have not calculated how much they
fident they’ll have enough savings at retirement, will need. Perhaps the most overlooked retirement
while only half report savings of $25,000 or more expense is health care. Experts estimate health care
and the percentage of Americans who have saved alone could add 20% (or more if long-term care is
any money for retirement has stalled since 2001. included) to the amount of preretirement income
that workers will need to replace in retirement.
Participants’ average account balances
$200,000 Replacement income projections
$181,622
180,000 DC plans are replacing DB plans as the primary
160,000 employer-sponsored retirement benefit. In light
140,000 of this, the plan industry is asking itself whether
120,000 DC plans will yield enough income for retirement.
100,000
80,000
A recent study showed that the replacement
60,000 $56,878 income for the first year in retirement would be
40,000
half of pre-retirement earnings for the lowest-
20,000 $19,926 income worker, and two-thirds for the highest-
income worker (assuming steady employment
0
Median All participants in their 60s and a continuous savings rate).5
Source: EBRI 2005 Retirement Confidence Survey.
The average account balance of partici-
pants in their 60s with a tenure of 30+
years is down 13.5% since 1999.
DC Market Review 4
7. edness
Retiring later may boost projected retirement income at all income levels
Retiring at age 60 Retiring at age 70
Lowest — 38%
Lowest — 67%
Low Middle — 41%
Income Levels
Low Middle — 74%
High Middle — 45%
High Middle — 82%
High — 50%
High — 94%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Replacement Income Rate
Source: Pension Research Council of The Wharton School, 2005.
By delaying retirement 10 years, workers at all four income levels born between 1965 and 1974 can
radically improve their replacement income rates.
MOVING YOUR BUSINESS AHEAD
• Do we provide tools to help employees calculate
how much they’ll need for retirement?
• Do we educate employees about total potential
expenses in retirement?
• Do we provide tools to project retirement
replacement income from DC plan savings?
5 DC Market Review
8. Accelerating into a new future
The traditional picture of retirement is obsolete Prepare for a grayer workforce
as the Baby Boom generation begins its long With the sheer numbers of Baby Boomers plan-
march into retirement. This group sees retire- ning to stay in the labor force past the traditional
ment differently, according to a recent national retirement age, the labor force will age. In fact, by
survey.6 For example, two-thirds view this period 2014, the percentage of workers between ages 55
as a time for continued productivity and only 13% and 74 in certain fields is expected to skyrocket
expect to stop working entirely. to 41%, according to the Government
Accountability Office.
Compare the Boomers’ orientation of retirement
as a “productive period” to responses from More older workers stay on the job
today’s retirees who are working for a more
100%
immediate reason—54% say they’re back at work
90
because they needed more income, the same
Percent of workers age 65-69 staying on the job
80
study reports.
70 68%
Boomers expect to work after retiring 60 57%
51%
50
40%
40
30
30%
Expect not to 20
Women
Women
work
Men
Men
10
70%
0
Expect to work
1996 2005
Source: Congressional Research Service 2005.
Since 1996 the percent of men and
women between ages 65-69 staying on
7 out of 10 expect to continue to work full-time the job increased 11%.
or part-time after retiring from their main job.
DC Market Review 6
9. Americans retiring later—just as they did in the past
30% 27%
28%
25
Percent age 65+ still working
20 22% 19% 18%
16% 19%
15 17%
16%
10
Will it go this high or higher?
5 This graph shows the percentage of Americans
age 65 or older still working full time. Note that
0 in 1995 the trend began to reverse as more
1965 1970 1975 1980 1985 1990 1995 2000 2004 2010 2015 2020 seniors remained at work after age 65.
Source: U.S. Department of Labor, Bureau of Labor Statistics, 2005.
More workers phase into retirement retirement income. When offered within the plan,
Plan sponsors must acknowledge and respond to participants have the choice to purchase guaran-
teed income through their regular salary contri- MOVING YOUR BUSINESS AHEAD
the trend of a grayer workforce, many of whom
butions. • Are we prepared to accommodate an older work-
will want to “phase out” of their jobs gradually—
force and the expectations they bring, including
in their 60s and beyond. It means sponsors must
Finally, from a service perspective, these new more flexible schedules and customized benefits?
adjust their communications materials and plan-
ning tools to accommodate an older, part-time work patterns will require more hands-on guid- • Do our current plan investments and services
employee base sooner rather than later. ance to help participants determine both an fully take into account the demographic trends?
appropriate retirement transition strategy and a • Have we considered offering annuities in our
It also suggests that more plans may add sustainable withdrawal rate from their accumu- investment lineup?
deferred annuities to their 401(k) investment lated assets.
• Have we developed communications to guide
lineup. Annuities respond to the concern of out-
workers planning to phase into retirement?
living assets by providing a guaranteed source of
7 DC Market Review
10. Staying ahead in this dynamic arena
As you review the information presented in this report and consider its implications for
your organization, you will recognize the importance of staying current in this dynamic
arena. New research is being conducted continually to enhance our understanding of the
DC market. We will continue to share our insights as we accelerate into a new future.
For more information, contact your T. Rowe Price internal sales consultant at 1-866-244-1762. DC Market Review 8
11. references
1
“The Automatic 401(k): A Simple Way to Strengthen Retirement Savings,”
supported by The Pew Charitable Trusts in partnership with Georgetown
University’s Public Policy Institute and the Brookings Institution, 2005.
2
A study by Sheena S. Iyengar and Mark R. Lepper, “When Choice Is
Demotivating: Can One Desire Too Much of a Good Thing?” at Columbia
University, reported in The Journal of Finance, Vol. 52, No. 4, August 2002.
3
Employee Benefit Research Institute (EBRI) and Investment Company
Institute (ICI) participant database.
4
A study by Olivia Mitchell, Stephen Utkus, and Tongxuan Yang, “Turning
Workers into Savers: Incentives, Liquidity, and Choice in 401(k) Plan
Design” at The Pension Research Council of The Wharton School, 2005.
5
A working paper by Sarah Holden and Jack VanDerhei, “The Role of
401(k) Accumulations in Providing Future Retirement Income” at the
Pension Research Council of The Wharton School, 2005.
6
Scott Reynolds, Neil Ridley, and Carl Van Horn, Ph.D., “A Work-Filled
Retirement: Workers’ Changing Views on Employment and Leisure,” at
Rutgers University, August 2005.