Thirty percent of adults in the U.S. report having received a student loan to further their education. According to the Federal Reserve, the median student loan debt for those with outstanding balances in 2023 ranged between $20,000 and $25,000. To … Read More
Housing? Check. Life insurance? Check. Dining out? Check. For most retirees, these types of line items are fairly predictable and factored into their monthly budget. But when it comes to health care, the situation can change dramatically. These expenses are … Read More
Many defined contribution plans include something called employer matching, meaning that your employer contributes a certain amount to your retirement savings plan based on your personal contribution. In 2024, individuals can contribute up to 23,000 into their 401(k) according to … Read More
Employees in the HR and benefits departments handle many responsibilities, such as managing a company’s health care benefits or supervising the retirement plan. As a result, it’s common for these employees to experience times of overwhelm, stress, and burnout. It … Read More
According to the results of a 2024 American Psychiatric Association mental health poll, 43% of adults reported higher subjective feelings of anxiety than they did the previous year. Respondents indicated feeling anxiety related to a number of issues, but high … Read More
In late June, the IRS issued a notice providing critical guidance on early withdrawal penalty exemptions under the SECURE 2.0 Act. The law includes significant provisions for individuals experiencing domestic violence, an issue that has affected millions across the U.S. … Read More
The average person is likely unfamiliar with the term “TDF” however it is the most utilized and fastest-growing investment option in an employer-sponsored retirement plan. As a plan participant, it is essential to know what you are investing in. Follow … Read More
With participants thinking erroneously that there is a guaranteed paycheck built into their retirement plan, the production of an “Income Target Date Fund” has grown exponentially. Since 2020, some target-date series now include a form of guaranteed income, providing participants … Read More
Many advisors recommend saving 15% of pre-tax earnings, including any employer match, to prepare for a secure retirement — but to accomplish this, timing is crucial. According to Forbes, savers need to begin by age 35 to retire comfortably by … Read More
A recent survey from market intelligence firm Cerulli Associates highlights a striking disparity in the financial wellness space. According to the report, U.S. Retirement End-Investor 2024, more than 90% of defined contribution recordkeepers provide financial wellness services and 71% of … Read More
