More and more workers are taking hardship distributions from their 401(k) accounts, a recent report shows. Bank of America’s June 2023 Participant Pulse study reveals nearly 16,000 participants withdrew money to cover a financial hardship in Q2 of this year … Read More
You’ve been diligent—saving, monitoring retirement accounts, consulting your advisor. But are you prepared for life’s uncertainties? Your retirement plan relies on assumptions: savings, investment duration, inflation, and returns. Life, however, loves throwing curveballs—job loss, health issues, financial shocks. Download a … Read More
Understandably, companies typically devote considerable attention to assisting participants nearing retirement. But the outsized value of early contributions to retirement readiness means employers should also focus on getting their youngest workers enrolled — and contributing — to their workplace retirement … Read More
According to recent data from the National Council on Aging and the Women’s Institute for a Secure Retirement, nearly half of women ages 25 and older lack access to a tax-advantaged, employer-sponsored retirement plan. Digging Deeper into the Data The … Read More
To most, the SECURE Act 2.0 appeared to predominantly outline optional changes that go into effect over the span of 10 years. However, there are a few mandatory changes taking effect in 2024 that plan sponsors will need to comply … Read More
According to the Employee Benefit Research Institute’s 2023 Retirement Confidence Survey of 2,357 Americans, workers’ and retirees’ confidence that they’ll have enough savings to comfortably support themselves through retirement has dropped to levels not seen since the 2008 global financial … Read More
Financial stressors including stubbornly high inflation and historic levels of credit card debt continue to impact workers across a wide range of income brackets. Twenty-eight percent of full-time employees often or always run out of money between paychecks, as do … Read More
Are you prepared for a secure financial future? Discover some key aspects of a comprehensive risk management strategy. Download a copy of this Participant Corner by clicking here, or contact service@accelerateretirement.com to get an editable version that you can white label and … Read More
The relationship we forge with our future selves can greatly impact financial decision making in the present. Research conducted by social psychologist Hal Hershfield using functional magnetic resonance imaging revealed that subjects with a stronger connection to their future selves … Read More
Public Response to Economic Threat Fuels SEC Proposal The outbreak of COVID-19 in 2020 instilled a sense of financial fear in market participants. How are humans inherently hardwired to respond to threat? Panic. The threat of economic crisis in 2020 … Read More
