- Employees have unrealistic expectations about retirement that differ from reality, such as when they will retire and how much income they will need. This can cause difficulties in transitioning to retirement.
- There are key differences in what workers expect versus reality, such as relying more on social security than retirees do and claiming benefits earlier than maximizes payouts.
- Employers can help by communicating effectively with employees to address these perception vs reality gaps and help smooth the transition to retirement.
The Wealth Chronicle, a monthly newsletter detailing current strategies for your finances and investments. This month's edition has articles on 401k fees, College planning, and strategies for best handling the new Medicare tax.
The Business Case for Financial Education in the WorkplaceMarkDonnay
Handling everyday personal financial issues is becoming increasingly stressful for employees. They need our help.
Make financial literacy education-and-tools a key element of your wellness and assistance solutions.
You can effectively and efficiently address one of the more difficult challenges facing workforces today.
Enjoy the fruits of taking your wellness and assistance programs to the next level. Make the clear connection between a financially literate workforce and a healthier, more productive, stable, and easy to manage workforce.
The Wealth Chronicle, a monthly newsletter detailing current strategies for your finances and investments. This month's edition has articles on 401k fees, College planning, and strategies for best handling the new Medicare tax.
The Business Case for Financial Education in the WorkplaceMarkDonnay
Handling everyday personal financial issues is becoming increasingly stressful for employees. They need our help.
Make financial literacy education-and-tools a key element of your wellness and assistance solutions.
You can effectively and efficiently address one of the more difficult challenges facing workforces today.
Enjoy the fruits of taking your wellness and assistance programs to the next level. Make the clear connection between a financially literate workforce and a healthier, more productive, stable, and easy to manage workforce.
Professional Services Management Journal: May IssueArcbazar
Check out page 12! Arcbazar was featured in the latest issue of PSMJ - a go-to source for powerful training, research, events, and advice for architecture, engineering, and consulting firm leaders.
Michael Page - Global Employment Trends - Financial Sector 2013Raquel Kroich
3.800 profissionais do Mercado Financeiro foram entrevistados em Março de 2013. Participaram executivos de 47 países, nas Américas, Europa, Oriente Médio, África e Ásia-Pacífico.
O objetivo da pesquisa é entender como os últimos anos em ambiente de crise impactaram o dia-a-dia dos profissionais do mercado financeiro em termos de motivação, salário, pagamento de bônus, oportunidades e carreira, bem como entender como os profissionais avaliam a atual situação e o futuro do mercado financeiro em todo o mundo.
Publicado em junho/2013
White Paper: Workplace Financial Education - The Benefits and Rewards of a Fi...Frank Wiginton
Part 2 in a 3 part series on defining financial literacy in the workplace. Part 2 explains why companies should offer an employee financial education program. How it impacts the in employee and in turn the employer.
I am a proud angel investor in LEARNVEST, which was sold to Northwestern Mutual earlier this year. I just came across this very interesting report they did on financial confidence. If you know me, you know I love research, especially on anything related to women and money. Here it is!
Retirement Made Simpler White Paper Action And Angst Employee Sentiments ...Retirement Made Simpler
A recent survey conducted by Retirement Made Simpler (RMS) shows that Americans agree that saving for retirement is more important than ever. Read the full report.
ACA - What you should know about worker classificationGrant Thornton LLP
If you’re an employer whose company uses independent contractors or workers from staffing agencies, you’ll need to make sure you’ve correctly identified whether they’re common law employees based on the IRS definition. Both types of workers may be considered common law employees, and if any of them are, you’ll need to add them to your total employee count in your Affordable Care Act calculation or risk incurring a hefty excise tax.
Learn more - http://gt-us.co/1xOqIzi
Study of Advisory Success defines what success means for advisors in today’s environment and highlights the most salient issues facing advisors. Pershing’s inaugural study found that the most successful advisors anticipate what will lead the next generation of advisors. This year’s study finds that successful advisors adapt to client communications and client expectations.
Employee benefits are a large portion of an employees total rewards package. Their importance has increased over the years. As employers offer benefits they must balance the cost while meeting the needs of their employees. This study details three different approaches to measure benefit adequacy.
People who want to make a difference are often attracted to public service, where a willingness to meet the challenges facing society is a critical competency. One leading reward for their dedication has typically been a stable pension. But the 2008 financial crisis derailed expected growth in government pension funds, leaving pensions in a state of crisis.
Professional Services Management Journal: May IssueArcbazar
Check out page 12! Arcbazar was featured in the latest issue of PSMJ - a go-to source for powerful training, research, events, and advice for architecture, engineering, and consulting firm leaders.
Michael Page - Global Employment Trends - Financial Sector 2013Raquel Kroich
3.800 profissionais do Mercado Financeiro foram entrevistados em Março de 2013. Participaram executivos de 47 países, nas Américas, Europa, Oriente Médio, África e Ásia-Pacífico.
O objetivo da pesquisa é entender como os últimos anos em ambiente de crise impactaram o dia-a-dia dos profissionais do mercado financeiro em termos de motivação, salário, pagamento de bônus, oportunidades e carreira, bem como entender como os profissionais avaliam a atual situação e o futuro do mercado financeiro em todo o mundo.
Publicado em junho/2013
White Paper: Workplace Financial Education - The Benefits and Rewards of a Fi...Frank Wiginton
Part 2 in a 3 part series on defining financial literacy in the workplace. Part 2 explains why companies should offer an employee financial education program. How it impacts the in employee and in turn the employer.
I am a proud angel investor in LEARNVEST, which was sold to Northwestern Mutual earlier this year. I just came across this very interesting report they did on financial confidence. If you know me, you know I love research, especially on anything related to women and money. Here it is!
Retirement Made Simpler White Paper Action And Angst Employee Sentiments ...Retirement Made Simpler
A recent survey conducted by Retirement Made Simpler (RMS) shows that Americans agree that saving for retirement is more important than ever. Read the full report.
ACA - What you should know about worker classificationGrant Thornton LLP
If you’re an employer whose company uses independent contractors or workers from staffing agencies, you’ll need to make sure you’ve correctly identified whether they’re common law employees based on the IRS definition. Both types of workers may be considered common law employees, and if any of them are, you’ll need to add them to your total employee count in your Affordable Care Act calculation or risk incurring a hefty excise tax.
Learn more - http://gt-us.co/1xOqIzi
Study of Advisory Success defines what success means for advisors in today’s environment and highlights the most salient issues facing advisors. Pershing’s inaugural study found that the most successful advisors anticipate what will lead the next generation of advisors. This year’s study finds that successful advisors adapt to client communications and client expectations.
Employee benefits are a large portion of an employees total rewards package. Their importance has increased over the years. As employers offer benefits they must balance the cost while meeting the needs of their employees. This study details three different approaches to measure benefit adequacy.
People who want to make a difference are often attracted to public service, where a willingness to meet the challenges facing society is a critical competency. One leading reward for their dedication has typically been a stable pension. But the 2008 financial crisis derailed expected growth in government pension funds, leaving pensions in a state of crisis.
Cultivating Ancillary Benefits - California BrokerJeff Hunter
More than 57 million full-time working Americans experienced at least one legal event in the past year and
nearly half faced their legal issue without professional help, according to a new national study sponsored
by LegalShield and conducted by the research fi rm Decision Analysts. That figure rises to 70% of the country’s total population when you include nonworking Americans.
By 2025, many DC plan sponsors will likely adopt characteristics of the most successful pension plans to help put them on a path to create a fully funded retirement income stream for plan participants. Here are ten considerations
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.
The Changing Face of Retirement: The Young, Pragmatic and Penniless Generation sets forth some of the key challenges facing young adults as they seek to balance their immediate financial pressures with the goal of planning for retirement. The survey was based on 10,800 employees in 12 countries worldwide, and
included 2,722 employees between the ages of 20 and 29.
With over half of young people today expecting to be worse off in retirement compared to their parents’ generation, the current generation of people in their twenties find themselves faced with particular challenges in saving for later life.
Similar to Chepenik Financial 1st Quarter (2019) Plan Sponsor Update (20)
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
Chepenik Financial 1st Quarter (2019) Plan Sponsor Update
1. When expectation and reality differ, the results can be tough to take
— especially when the subject is retirement. By communicating with
employees in a way that recognizes both the perceptions and the
realities, employers can smooth the transition from worker
to retiree.
With this disconnect in mind, it’s important for employers to
pay attention to key areas where worker expectations and
retirement reality part ways. They may then be able to direct their
communication efforts where they could truly make a difference.
When, where, how much?
Important points where worker perception can be different than
retirement reality include when to retire, and how much income
will be needed and from what source. Those were among the areas
explored recently by the Employee Benefits Research Institute. These
topics, along with the basics of managing a household budget, can
form the basis of an effective communication program to guide
employees into retirement.
Half of the workers who answered a survey expressed confidence
that they know how much income they will need in retirement; half
also believe they know how to withdraw income from their savings
and investments. A higher number (two-thirds) of retirees say such
withdrawals are relatively easy.
Just one-third of workers expect Social Security to play a major
role in their retirement income. In fact, 50% said it will be a minor
source of their retirement income, and 13% don’t consider it a
source at all. Contrast that with the response among retirees, where
two-thirds say Social Security is a major source of their income.
On time, early, or late
The timing of the initial Social Security claim is something employees
think about, and they seem to believe that earlier is better. Many fail
to take full advantage of the program by delaying their claim until
they are able to receive their highest possible benefit. About half of
employees say they think about the timing of their retirement and
how it will impact them financially. But they still plan to claim
their Social Security benefits at a median age of 65. Just 23%
of workers said they chose the age at which they plan to claim
benefits with their maximum available benefit in mind.
Read more about retirement confidence from workers and retirees
in the Employee Benefit Research Institute’s latest survey, at
https://tinyurl.com/EBRI-RCS-2018.
Retirement Expectation Versus Reality:
Communication Opportunities at the Crossroads
1ST QUARTER 2019
A RESOURCE ON CURRENT ISSUES FOR PLAN SPONSORS AND ADMINISTRATORS
PLAN SPONSOR
OUTLOOKRETIREMENT
Chepenik Financial
Jason Chepenik, CFP®, AIF® | Managing Partner
429 S. Keller Road, Suite 310
Orlando, FL 32810
Phone: 407-660-1010
www.chepenikfinancial.com
2. 2
employer and employees — for all ages and pay grades. It can
help reduce financial stress on employees, which in turn may
improve productivity — since, according to the survey, 34% of
Gen Xers report being distracted at work over money. Among
them, almost half say they spend at least 3 hours a week
preoccupied with personal finance issues during the workday.
Squeeze Play: Gen Xers Especially Feel the Pinch
Saving for retirement can challenge the best of us. For one group
of employees, the challenge seems particularly daunting. Your
mid-career colleagues, those between 36 and 56 years of age,
may sometimes feel the odds are stacked against them. They are
squeezed by their own debt, financial obligations to children who
are not yet grown, and often, financial demands of aging parents.
How, they may wonder, will they ever be able to retire?
Here are a few statistics about this generation, according to
information from an ADP Retirement report1
:
• More than 60% of Gen X workers have dependent children
• 30% provide financial support to their parents or in-laws
• 31% have outstanding student debt.
About one-third of Gen Xers answering the survey reported concern
about their ability to meet current monthly expenses. In fact, in 2017
38% said they used a credit card to afford necessities, up a startling
11% compared to one year earlier.
Meanwhile, Gen Xers appear to be more confident in their ability to
retire on time than in previous years. 29% reported in 2017 anxiety
about not being able to do so, compared to 37% who felt that
way in 2016. And three-quarters of Gen Xers are, indeed, saving
for retirement, although about one-third have used their retirement
assets for something unrelated to retirement, and nearly half believe
they will need to at some point.
Retiree healthcare costs cause concern
A significant point of concern for Gen Xers is the cost of health
care in retirement, with 30% citing it as a top concern. (Running
out of money in retirement (46%) and health issues (32%) were
the worries topping the list). They are right to be concerned. One
national provider of healthcare cost-projection software expects a
healthy 65-year-old couple retiring in 2018 to need nearly $364,000
in their retirement years to pay healthcare premiums and expenses.2
Even so, only half of Gen X workers who have access to a Health
Savings Account use it as a way to build a nest egg toward these
expenses in retirement.
Push back with financial wellness education
To push back against the squeeze, many employers provide some
form of financial wellness program. A solid financial wellness
program should include education about managing debt, setting up
and using a budget effectively, and finding ways to save for the
future. Such a program can help solidify the relationship between
Web Resources for Plan Sponsors
Internal Revenue Service, Employee Plans
www.irs.gov/ep
Department of Labor,
Employee Benefits Security Administration
www.dol.gov/ebsa
401(k) Help Center
www.401khelpcenter.com
PLANSPONSOR Magazine
www.plansponsor.com
BenefitsLink
www.benefitslink.com
Plan Sponsor Council of America
www.psca.org
Employee Benefits Institute of America, Inc.
www.ebia.com
Employee Benefit Research Institute
www.ebri.org
1
Generation X: The Most Financially Stretched and Financially Stressed
Generation, ADP Retirement Services 2018
2
Healthview Services 2018 Retirement Healthcare Costs Data Report®
,
https://tinyurl.com/HVS-2018-retiree
3. 3
Q:Employees have been asking about including
socially responsible options among the 401(k) plan’s
investments. We want to be responsive but have
some concerns. Can you share some of the basics
of socially responsible investing? And how might it
impact our fiduciary responsibilities?
A:When people refer to responsible investing, they often refer
to ESG — environmental, social and governance. You may be
surprised to learn that ESG investing has been around for more
than 30 years; however, its popularity and importance have
increased dramatically in the last decade. An interesting statistic
from RBC Global Asset Management shows increasing confidence
in performance related to ESG. Their survey in 2018 found that
38% of respondents believe integrating ESG into their investing can
improve results. That’s up 14% from one year earlier, and it goes a
long way toward alleviating concerns about including ESG among
investment choices. In addition, more than 50% of survey
respondents say that incorporating ESG into their investment
approach is part of their duty as a fiduciary, double the number
who said so in 2017. There is more information on this topic here:
https://tinyurl.com/RBC-ESG-2018.
Q:We like to keep an eye on trends that could
impact retirement for our employees. Is anything new
on the horizon these days?
A:Yes, there are some trends to watch, although some have
been on our (and probably your) radar for the last few years. The
American Retirement Association (ARA) identified seven of them in
a September 2018 presentation for ASPPA. Take particular note of
litigation over plan fees. Several factors have emerged among plans
undergoing fee litigation, according to the presenter, ARA Chief
Content Officer Nevin Adams. Plans that hold multi-billions in assets
are often targeted, he said, especially those that include retail-class
mutual funds. Also under scrutiny are plans with proprietary funds
in their investment line-ups; plans that fail to regularly benchmark
their plans and investments; those using assets as a basis for
recordkeeping charges instead of per-participant fees; and plans
that aren’t working with a qualified retirement plan advisor. None of
these factors are illegal, of course. But if they apply to your plan, a
thorough review of your processes and procedures could be helpful
in maintaining the plan’s effectiveness — and keeping fiduciaries out
of court. Learn about more trends identified in the presentation at
https://tinyurl.com/ARA-7-trends.
Q:Many of our employees are young and carrying
debt related to their education. As we implement our
financial wellness and retirement communications,
we’d like to address the question we sometimes hear
about whether it’s better to channel income toward
paying off loans or into the 401(k) plan. What are
your thoughts?
A:Like so many other choices in life, this one is complicated.
The best answer is, of course, to do both. But you don’t want
to overwhelm employees so they give up and fail to take any
action. We all know that, when it comes to saving for retirement,
the earlier the better. But carrying student debt into retirement
isn’t smart, and paying if off can free up funds to save for the
future. You’re on the right track by educating employees about
their overall financial health. As you develop the program, these
suggestions may help employees struggling with competing
priorities. Tell them to: find out if your bank offers an interest
rate reduction for automatic payments on your loan; check for tax
breaks you could receive on your student loan repayments; pay
down the balances of your highest-rate debts first; and watch out
for pre-payment penalties if you do manage to pay your student
loans ahead of schedule.
Plan Sponsors Ask...
Pension Plan Limitations for 2019
401(k) Maximum Elective Deferral $19,000*
(*$25,000 for those age 50 or older, if plan permits)
Defined Contribution Maximum Annual Addition $56,000
Highly Compensated Employee Threshold $125,000
Annual Compensation Limit $280,000