Inflation and Retirement Investing: Revisiting the Saving by Side Hustle and Its Drawbacks.
If you think inflation is last year’s news, you may be out of step with employees. COLA increases by SSA and inflation adjustments by the IRS to retirement accounts show that inflation is still running rough on employees’ savings. And now two new studies show investors are very concerned about inflation’s impact on both the date and amount of their retirement.
Tips for Tackling Employee Concerns on Volatility
Employee concerns about worker strikes and military action in the middle east region may show anxiety about market volatility and retirement fund safety. Plan sponsors may want to pause and consider how they can use employee surveys to gauge the level of employee distress over volatility as well as how to address those concerns.
Empowering Retirement Choices Among Plan Participants
Employees may be chafing from feeling forced towards action in other areas of their life that seems to be morality-based or “woke.” Will that discomfort translate into unhappiness with the actions of plan sponsors to encourage retirement readiness? Sponsors may have some options for how to continue incentivizing employees to enroll in retirement plans.
Overseas Plan Participants Refresher
Events outside of the United States have been on everyone’s hearts and minds this fall. Plan sponsors may be concerned for their own families and loved ones, and also for their plan participants who have retired overseas. Nine million Americans live abroad, according to the State Department. Those living abroad may have two concerns when it comes to their retirement funds: bank account access and email.
Benefits and Recruitment: Protect Your Online Reputation
Benefits can be an important part of the view prospective employees have of your company and whether they want to apply. How can you make sure your benefits measure up? We have a few thoughts.
New News: Substacks for Your Plan Participants?
If you’ve been following financial writers on other platforms for topics to cover in employee education sessions, it’s worth your time to consider what Substack writers have to offer. And, if you recommend accounts on your employee education pages, adding other sources with in-depth information may increase your employees’ knowledge base. We’ve picked a few we enjoy.
Retirement Planning Education for Employees: Track and Stack
As Quarter 4 draws near, Plan Sponsors may be wondering how they can help employees capture the end of the year energy to plan for retirement. One of our new favorite ways is to combine a well-known method with a newer system: track and stack. Tracking habits and progress towards goals is a method known to help motivate employees towards goals. But habit stacking is a new method that is stirring up a lot of interest for its impact.
IRAs Today: Employee Education
Some changes to IRAs in the Secure Act 2.0 may have brought employees to think about how they may want to incorporate IRAs into their retirement savings plan. Towards that end, Plan Sponsors may want to offer employees a few key details on why IRAs can benefit their savings.
Supreme Court Cases for Sponsors
A handful of cases slated to be heard by the Supreme Court this Fall could be important for Plan Sponsors. Here’s what to know.