Headlines about "Ret plans - design"

Gathered from the web by the editors at BenefitsLink.com.
Future Retirees at Risk of Downward Mobility, Pew Finds
"The report estimates that, at the median, Americans born between 1966 and 1975 -- so-called Gen-Xers -- will be able to replace just half their pre-retirement income once they stop working, well below the minimum 70 percent replacement rates recommended by most financial planners. Late baby boomers -- which the report defines as those born between 1956 and 1965 -- will be able to replace 60 percent of their working incomes in retirement, the report estimates. Both replacement rates are below what financial experts say is necessary for a secure retirement." (The Washington Post)

Retirement Security Across Generations
"This report explores how the Great Recession affected the wealth and retirement security of baby boomers relative to younger and older age groups.... Early boomers (born between 1946 and 1955) were approaching retirement in better financial shape than the age groups that came before them.... The picture of wealth accumulation and savings for Americans born after 1955 was more mixed.... Both cohorts of baby boomers and the Gen-Xers have significantly lower asset-to-debt ratios than do the older groups.... All groups experienced wealth losses in the Great Recession, but Gen-Xers took the hardest hit.... Replacement rate analysis shows that the youngest cohorts will not have enough assets for a secure retirement." (Pew Center on the States)

Retirement Plan Participants: Comparing Concerns of Men to Those of Women
"There are few retirement readiness issues on which men and women feel equally secure.... When asked about future prospects, men are more likely than women to say they expect to be better off financially one year from now. They also express greater concern with their level of household debt. Women are more concerned about not saving enough for retirement, health issues and the financial situation of their children." (Spectrem Group)

Cypen & Cypen Newsletter, May 16, 2013
Articles include: [1] NASRA issue brief treats state and local government spending on public employee retirement systems; [2] Has DC plan design come full circle? [3] What to know before selling pension/settlement income streams; [4] Pension funds with the highest equity allocations; [5] Pension funds with the largest hedge fund portfolios; and [6] Thirty-fourth annual police officers' and firefighters' pension trustees' school. (Cypen & Cypen)

Redefining Retirement Readiness
"[This study examines] how workers feel about their own retirement and financial situations, what they look for with respect to support and guidance, and how they would respond to employers who offer them additional Retirement Readiness support." [Includes links to summary, detailed findings, and infographics.] (ING)

Most 401(k) Participants Will Invest in Target-Date Funds by 2017
"Target-date funds' popularity over the last 10 years has soared, among both plan sponsors and participants, so odds are your plan offers these as an investment option.... 55 percent of all participants and 80 percent of new entrants will be invested in such a professionally managed option by 2017." (Thompson SmartHR Manager)

Reenrollment in Retirement Plans: Better Process, Same Great Benefits
"[Reenrollment] can be a powerful method to address a plan's asset allocation problems and the inertia of plan participants. Reenrollment resets participant investments, directing current and, typically, future holdings into a qualified default investment alternative (QDIA) such as a balanced fund, managed account, or life-cycle or target-date fund." (Vanguard)

Pension De-Risking Through Lump Sum Offers
"Lump sums can be a useful tool to reduce the size of pension obligations, but they must fit within the context of an organization's overall financial and HR strategies. If the plan sponsor's objective is to reduce its pension risk, the first question is: 'Are we better off settling our liabilities, either through lump sum payments or other risk transfer mechanisms such as an annuity purchase, or are we better off trying to manage these risks ourselves?'" (Towers Watson)

[Guidance Overview] DOL Considering Requiring DC Plans to Provide Lifetime Income Illustration (PDF)
"According to the DOL, the assumed 3% annual increase in the rate of future contributions is based on an expectation that wages, particularly for younger workers, will increase at an even higher rate.... However, for those individuals already contributing the maximum elective deferral amount to a 401(k) plan, this assumption may be too high when inflation is lower than 3%. Similarly, a 7% rate of return may not be achievable for employees near retirement age who invest more conservatively and may create an unreasonably high projected retirement annuity." (PricewaterhouseCoopers)

Variable Annuity Plans May Benefit Employers and Employees
"[W]ith a variable annuity structure, both single and multiemployers as well as their employees share many of the advantages of both traditional [DB] and [DC] plans. [A] chart highlights both important advantages and disadvantages of [DC] and traditional [DB] plans, as well as the advantages shared by variable annuity plans." (Retirement Town Hall)

Automatic 401(k) Saving Features No Fail-Safe to Retirement Success
"Workers can always opt out of the auto-saving features, but they usually don't ... On the plus side, automation leads many who would otherwise save nothing to steadily sock away a slice of their paycheck. But the 3% default contribution rate favored by employers doesn't come close to the savings rate needed for a secure retirement: roughly 12% to 15%, experts say, including both worker and employer contributions." (Kiplinger)

[Opinion] Why the Industry Needs to Accept Some Blame for Flaws in PBS Frontline's 'Retirement Gamble'
"If a smart journalist, looking for as much information as possible about retirement plans and interviewing dozens of plan participants, plan sponsors, and academics, still can't understand his own retirement plan, then it may be that those doing the explaining aren't doing a very good job. Some of the blame for inaccuracies and missing information in the documentary is reflective of confusion and missing information in the industry." (RIABiz)

Six Reasons a 401(k) Is Better Than a Pension
"[B]lindly claiming that the pre-401(k) days are better is just inaccurate, because there are plenty of reasons the do-it-yourself system is better. Here are a few to consider: Not every employer offered pensions, even when they were popular.... The assets in 401(k)s vest much sooner, and you own the funds.... You can control taxes a little better with an IRA or 401(k).... If you really need it, you have access to the money.... There's a chance that your heirs will get some money.... Your 401(k) plan may have high fees, but low-cost investments are possible." (U.S.News and World Report)

Consumer Fact Sheet: The Basics of Investing
"The Insured Retirement Institute (IRI) and the National Retirement Planning Coalition (NRPC) released a new fact sheet focused on the basics of investing as part of their six-month national retirement planning campaign.... According to research by IRI, only about 17 percent of Boomers believe that they are extremely or very knowledgeable about making financial investments. Even more alarming, more than 40 percent of Boomers say that they are not very or not at all knowledgeable about investing." (Insured Retirement Institute)

State and Local Government Employees Postponing Retirement
"[A recent study] asked supervisors what changes their retirement-eligible employees had made about their plans for retirement and found 37.6% indicated employees postponed their retirement date, 21.7% said employees accelerated their retirement date, 23.6% reported employees made no changes to their retirement date and 20.5% said 'don't know.'" (PLANSPONSOR.com)

[Opinion] A Bad Idea: Obama's Proposed Cap on Retirement Savings
"The President's cap on retirement savings would set a bad precedent by establishing the false premise that retirement savings accounts should be capped. This could start a misguided descent down a slippery slope that would end up making middle-class retirements less secure.... Congress should allow taxpayers to save as much as they can every year tax-free for any purpose with no cap on the total value of their savings. They would pay tax only when they withdraw their savings to spend for whatever purpose they choose." (The Heritage Foundation)

The State and Local Government Workforce: 2013 Trends
"Twenty-two percent of retirement-eligible employees accelerated their retirement date in 2013, the same as 2012. The number of governments making changes to health and retirement benefits remains high, with 56 percent modifying health benefits in 2013 and 44 percent making changes to retirement plans. The change most often cited was to shift more health care costs from the employer to employee (reported 52 percent of governments that made changes). Twenty-eight percent of governments that made changes created wellness programs." (Center for State & Local Government Excellence)

Five Retirement Myths Worth Changing
"[W]ith only 7 percent of workers possessing a guaranteed pension ... some one-third of Baby Boomers will end up in poverty. 'If you're the most successful one in your family, you'll be the bank [for your less well-off siblings],' [psychologist Ken] Dychtwald said ... As a result, many of us will have to re-invent ourselves and scrap the conventional notion of a do-nothing retirement at 65." (Forbes)

[Guidance Overview] Roth Adoption and the New In-Plan Conversion Feature
"[The authors] anticipate that the Roth feature will appeal to successful plans -- those with high levels of savings and well-diversified plan assets -- where the sponsor is seeking to add incremental plan features for consideration by participants. For sponsors overseeing plans with below-average participation and savings rates, or poorly diversified plan assets, the Roth feature is likely to remain less important than optimizing savings and investment behaviors." (Vanguard)

What Is Derailing Retirement for the Baby Boomers?
"Retired and pre-retired Americans report they've lost, on average, $117,000 in retirement savings because of events that they did not anticipate ... Over half those surveyed (57%) expressed regret about not beginning to save earlier. About a third (37%) admitted to believing they would be in better financial shape if they knew more about investing. Three in ten (29%) said a written financial plan would have helped them be in better shape for retirement." (PLANSPONSOR.com)

The Changing Face of Retirement Worldwide: The Aegon Retirement Readiness Survey 2013
"The 2013 [Aegon Retirement Readiness Index (ARRI)] scores show a decline from those in 2012. The total ARRI score dropped from 5.19 out of 10 to 4.89, with all 10 countries surveyed in 2012 registering a decline. Although in some countries there are now some signs of recovery from the economic crisis, the change in ARRI scores across the board was negative....Nearly two-thirds (64%) of respondents believe that future generations will be worse off in retirement than current retirees." (AEGON)

Recession Not Entirely at Fault for Retirement Crisis
"Beyond the effects of the recession, the average respondent experienced a total of four 'derailers' in their lifetime, including family and lifestyle choices that have lasting financial consequences. Nearly two in five of the respondents (37%) experienced five or more unanticipated events, costing them approximately $144,000." (Financial Planning)

[Guidance Overview] Minnesota Employers Affected by Same-Sex Marriage
"Generally, self-funded medical plans and retirement plans are not required, but can offer, coverage or survivor benefits, respectively, to an employee's same-sex spouse. For insured plans, new and renewed contracts underwritten in Minnesota will likely be required to cover a spouse of a same-sex marriage, but there should be future guidance on this and other interpretation issues." (Faegre Baker Daniels LLP)

IRS to Focus on Safe Harbor 401(k) Plans, Other Concerns Highlighted in Questionnaire Results
"The Internal Revenue Service has identified an increasing number of small employers that maintain multiple tax-qualified retirement plans, an arrangement that is not a violation of tax code rules but that raises questions, [Monika A. Templeman, director of Employee Plans examinations at IRS] said during an agency-sponsored phone forum.... 'More plans means more complexity and more need for internal controls, so we are a little bit concerned,' she said." (Bloomberg BNA)

[Opinion] The 401(k) Debate
"The shift to 401(k) plans comes across as a harmful move by U.S. employers. Yet the move to defined contribution plans (the general term for these plans) has been a global phenomenon ... The complexity and decision overload described in the documentary are becoming passe .... The documentary missed the critical role played by employers in overseeing their plans; it also overlooked the fiduciary rules they must follow." (Vanguard)

Top Five Actions Employers Can Take to Help Employees Become Super Savers for Retirement (PDF)
"Drive employee participation in the plan and encourage contribution increases over time.... Encourage employees to use resources that help evaluate retirement readiness.... Offer target date solutions that automate investment decisions.... Use proactive communications that motivate employees to take appropriate action.... Use leadership and centers of influence to promote retirement savings." (Transamerica Retirement Solutions)

Technical Progress, Sorting, and Early Retirement
"Technological progress has been shown to affect early retirement via two opposite forces. On the one hand, it increases real wages and, therefore, creates incentives to delay retirement. On the other hand, it causes an erosion of workers' skills, which raises the probability of early retirement." (Working Papers in Economics, Universitat de Barcelona via SSRN)

IRS Final Report on 401(k) Compliance Check Questionnaire (PDF)
"The Final Report explains the sample selection and analysis methods and provides the response to each question by percentage of plans, plan sponsors, or participants. It also includes stratified data based on plan size and a section on Automatic Contribution Arrangements. The findings will be used to gain a better understanding of the health and compliance behaviors of 401(k) plans and to better allocate IRS resources to foster voluntary 401(k) plan compliance." (ING)

FTSE350 Pension Deficits Rise Above 100bn GBP
"[T]he accounting deficit of defined benefit pension [plans] for the UK companies increased over the month of April.... [T]he estimated aggregate IAS19 deficit for the defined benefit [plans] of the FTSE350 companies stood at 108bn GBP (equivalent to a funding ratio of 84%) at 30 April 2013." (Mercer)

California's State-Run Retirement Program for Private Employees vs. the 'Retirement Tsunami'
"The California program aims to create an effortless savings vehicle for an underserved population. Three-quarters of eligible workers make less than $46,420 per year, putting them into a demographic that relies heavily on Social Security in retirement. The new law won't end reliance on Social Security, but it could provide workers with additional financial security. The program is designed to be privately run and managed, ideally at no cost to the state." (The Atlantic)

Ten Steps to Setting Up an ESOP
"From engaging your ESOP consultant to rolling out the plan to your employees, this ten step process will help guide you through the key steps to implement an ESOP." (Principal Financial Group)

[Opinion] PBS Frontline's 'The Retirement Gamble' Got 401(k)s Right
"[T]he following are key things to consider whether you are an employer offering a 401(k) or an employee investing in one: [1] Costs Matter: Keep investment fees low as it can help keep more money invested in the markets versus in the hands of financial providers.... [2] Over the long-term, few professionally managed funds (known as actively-managed funds) outperform its peer market index.... [3] Choose a provider that takes on a fiduciary responsibility with your 401(k): This simply means use a provider that agrees in writing to act in your company's 401(k) plan's best interest." (Avik Roy, in Forbes)

Accounting Changes Push Japanese Companies to DC Plans
"At the same time, the Tokyo stock market's recent revival could make it easier for those companies to garner the approval of employees they'll need to make those changes.... In Japan, unlike in the U.S., DB assets accumulated on behalf of active employees can be converted to DC assets, provided employees approve." (Pensions & Investments)

[Opinion] No Matter What Pension Bill Passes in Illinois, a Lawsuit Is Guaranteed
"Folks, there is going to be a lawsuit no matter what the Illinois General Assembly does.... So let's quit thinking that this matter won't inevitability be settled in court. The question worth asking is: What do we want to be the test case to go before the Illinois Supreme Court? Should it be a law that, if it passes constitutional muster, will solve the pension crisis once and for all, or one that will simply kick the issue down the road for some future General Assembly to address?" (Illinois Policy Institute)

Exchanging Delayed Social Security Benefits for Lump Sums: Could This Incentivize Longer Work Careers?
"This paper explores whether allowing people to receive a lump sum as a payment for delayed retirement rather than as an addition to their lifetime Social Security benefits might induce them to work longer.... Our base case indicates that workers given the chance to receive their delayed retirement credit as a lump sum payment would boost their average retirement age by 1-1/2 to 2 years." (University of Michigan Retirement Research Center)

[Opinion] Retirement Savings Ideas from Washington Are Mixed Bag
"[S]everal proposals are being floated in Congress to expand retirement savings for workers who don't have access to a plan, but are currently stalled because of partisan disagreement and deficit concerns.... [A]ction at the state level could eventually push forward a federal effort. The legislative activity is further evidence that retirement plan coverage and readiness is a public care that has gathered interest in the political realm[.]" (Vanguard)

DOL Requests Comments on Proposed Rule for Illustrating Lifetime Income on Benefit Statements
"These particular proposed rules ... focus more narrowly on the need to highlight the income replacement purpose of plan benefits and motivate workers to save more. Presumably to signal some flexibility in achieving those goals, the notice pledges that the DOL will consider reasonable alternatives to direct regulation, including other ways to provide participants and beneficiaries with 'constructive and helpful lifetime income illustrations.'" (Thomson Reuters / EBIA)

Health Care Concerns & Retirement Planning (PDF)
"In 2012, 45 percent of individuals reported that medical expenses were extremely important when it came to planning for retirement, and 26 percent reported that they were very important ... Moreover, the percentage of individuals reporting that medical expenses were extremely important when it came to planning for retirement increased from 27 percent in 2003 to 45 percent in last year's [survey]." (EBRI)

[Opinion] So How Do We Make Retirement Less of a Gamble?
"The advice to participants to request formal acknowledgment from their financial advisors of their status as a 'fiduciary' is dubious at best (for one problem, it's unlikely the average participant could draft a meaningful fiduciary contract). Smith's piece does not reflect the recent legislative and litigation efforts -- enhanced fee disclosure, increased fiduciary responsibilities -- which, while slow to develop and long overdue, are nonetheless beginning to address the very problems Smith laments." (Retirement Town Hall)

[Opinion] President Proposes IRA Changes
"The proposal amounts to killing a mosquito with a sledgehammer, based on the following three considerations: [1] This proposal would require an entirely new information-gathering and enforcement mechanism.... There are probably thousands of [people] who have accumulated 'too much,' but that's a drop in the bucket compared to the millions and millions who have 'too little.' So this newly created giant dragnet will snare just a few people.... if their IRAs are already that large, they don't want to put more in anyway!" (Natalie Choate for Morningstar Advisor)

Illinois Senate Approves Union-Backed Pension Plan for State Employees
"The Illinois Senate approved a union-backed plan to cut the retirement benefits of nearly 700,000 teachers, state workers and retirees today, taking a vote that is directly at odds with House approval of a competing pension plan last week. Unless one side blinks and approves the other's plan by the May 31 scheduled adjournment, another legislative session will pass without movement on one of the state's most serious financial challenges." (Chicago Daily Herald)

Low Interest Rates Could Ding Retirement Plans, EBRI Warns
"In a scenario where retirement income and wealth account for 100% of an investor's simulated retirement expenses ... around a quarter of Baby Boomers and Gen Xers who would have had sufficient retirement income under interest rates at historical averages would run out of money if the current low rates were taken as a permanent condition.... [O]nly 5% to 8% of the same Boomers and Xers would run out of money under perpetually low rates if income and wealth accounted for 80% or less of their retirement expenses[.]" (On Wall Street)

Advisors Must Better Plan for Health Care Costs
"When addressing health care with clients, include the following subjects into the discussion ... [1] What is your cash flow to pay for serious illnesses? Do you want to tap into your retirement plan or access life insurance benefits? [2] Tax planning: Understand all co-pays and out of pocket expenses. Track these during serious illnesses for more effective tax planning. [3] Family deductibles: If you know your clients have hit greater than 10% of adjusted gross income for deductibles, make sure everyone in the family gets their health needs taken care. All of those expenses are deductible." (Financial Planning)

New Lawsuits Challenge Church Plan Exemption from ERISA Claimed by Catholic Hospitals
"Over the last 5 weeks ... individual lawsuits [have been filed] against four mega non-profit hospital conglomerates alleging that they are not entitled to the Church Plan exemption under ERISA. Each defendant is alleged to have violated the minimum funding, notice, plan document, trust, and fiduciary rules of ERISA in sponsoring their defined benefit pension plans.... In total, the plaintiffs allege at least $2.1+ billion in underfunding, plus unspecified other damages[.]" (Plan Tools, LLC)

[Opinion] Pensions and Politics: Lack of Retirement Readiness Could Mean Big Changes
"[T]he retirement issue is getting closer to the point of no return. Politicians will jump in to allegedly save the day. Part of the problem is that there is a battle of interests with few constituencies aligned to move in the same direction. When this occurs, a central authority typically intervenes.... How will politicians respond to younger persons who do not want to shoulder the high costs of social safety net programs and seniors who want them?" (Pension Risk Matters)

UK Adults in Denial About Retirement Saving Shortfall
"The 65% who are struggling to save fall into three categories: one in three (30%) are 'hassled and overstretched', nearly one in five (19%) are 'in denial' about the issue and a further 16% are 'lost and confused' about the steps they need to take. Just 16% of adults show signs of being 'savvy and sorted' by taking a conscientious approach to saving for retirement. A further 19% are 'cautious optimists' who appreciate the need for action and are confident they still have time to prepare." (Equity Release Council via Pendragon PensionSurveys)

Working with a Financial Advisor Lowers Boomers' Retirement Debt
"[B]oomers who developed retirement income plans generally were more optimistic about their retirement finances. Of the pre-retirees surveyed, 27% said they worked with financial advisors to develop retirement income strategies. Among pre-retirees who worked with advisors, 73% said that did not expect to carry debt into retirement." (On Wall Street)

Status of Pooled Registered Pension Plans in Canada
"The PRPP is intended to provide a 'low cost' and accessible retirement savings vehicle for Canadians who do not currently participate in an employer sponsored pension plan.... While PRPPs are not yet available in any jurisdiction other than the federal jurisdiction, as I discuss below, a number of provinces have either drafted legislation introducing PRPPs or have indicated that they are considering introducing legislation to implement them." (Osler, Hoskin & Harcourt LLP)

Defined Contribution Plan Fees: One Plan Sponsor's Perspective (PDF)
"It did take some convincing for the Benefits and the Investment Committee to move away from a revenue-sharing approach and agree to charge participants' accounts directly for record keeping. ... Record keeping fees are not driven by how large an account balance you have; they are driven by the cost of maintaining your record -- making that cost fairly easy to quantify. Therefore, we decided to charge participants a quarterly account maintenance fee. It's not a large amount and it's fully transparent." (NEPC)

BancorpSouth Announces Voluntary Early Retirement Program
"The early retirement offer has been made to 418 employees, or approximately 10 percent of the Company's workforce, who were eligible because they met job classification, age, and years-of-service criteria as of March 31, 2013. The program offers pension plan enhancements based on each eligible employee's age and years of service. Of the 296 employees who have already responded, 194 have accepted the offer." (BancorpSouth)

Just Over Half (56%) of Americans Say They're Financially Prepared to Live to the Age of 75
"[I]t's clear the number of Americans expecting to retire young is very small, while the number expecting to work into their 70s and 80s is considerable. Specifically: 6% expect to retire before the age of 60; 52% expect to retire in their 60s; 32% expect to retire in their 70s; 10% expect to retire in their 80s." (Northwestern Mutual)

[Opinion] Text of IRI Statement on DOL's Income Illustrations Notice
"We strongly support educational initiatives that enhance Americans' understanding of their retirement savings options and help them to develop plans for their future financial security. Providing such income illustrations will help them understand how much income can be generated from savings and adjust their savings and investment strategies accordingly so they can attain financial security during their retirement years." (Insured Retirement Institute (IRI))

Study of Largest 403(b) Plans Give Clues on How to Serve Broader Market
"Only a third of organizations believe they have met the challenge of motivating employees to save enough.... [P]lan sponsors believe only 40 percent of their participants will be well prepared for retirement.... A little more than a quarter of plan sponsors do not believe they have completely met the challenges of managing their fiduciary responsibility." (LIMRA)

The Proposed Pension Cap: Who Would Really Be Affected?
"Most taxpayers and employers aren't actuaries. Who is going to convert IRA and 401(k) balances into equivalent annuities? How are employers supposed to get information about benefits provided by prior and future employers? How will investment performance affect the limits? Investment earnings could continue under the proposal without regard to the cap, but what if there is a negative return or an investment's value sharply declines? What if additional contributions are permitted for a temporary loss, and then the investment rebounds?" (Osler, Hoskin & Harcourt LLP)

[Opinion] U.S. Needs Mandatory Retirement Savings Plan Like Aussie Superannuation System
"The U.S. should implement a form of mandatory savings, akin to Australia's superannuation system, because Social Security, defined benefit plans and defined contribution plans aren't providing, in aggregate, a comprehensive foundation for retirement, Laurence Fink, chairman and CEO of BlackRock, said ... Mr. Fink said he didn't have a specific plan, adding that he wasn't recommending the abandoning of current retirement plans.... Any mandatory retirement system would have to be phased in, he added." (Pensions & Investments)

[Opinion] Why Frontline's 'The Retirement Gamble' Is Important
"[1] It highlights a critical problem that affects 90 million Americans who invest in the $13 trillion mutual fund industry. [2] It highlights three problems which are widespread, but not often publicly discussed: the impact of high mutual fund and 401(k) fees; the conflicts-of-interest that prevail in the financial industry sales and advice industry; and wealth destruction. [3] It presents the problem facing millions of Americans who face a financially insecure retirement future [4] It addresses how millions of unprepared investors are now engaged in a do-it-yourself retirement planning process. [5] It shows how employers have transferred all retirement planning and investment risks, and most of the costs, to their employees." (MutualFundReform.com)

[Opinion] Bold 401(k) Overhaul Proposal from Knight Kiplinger
"There's no longer any debate over whether working Americans are accumulating enough savings and employer contributions, supplemented by Social Security, to live comfortably in retirement. Indisputably, they are not, and the matter is getting critical.... Fortunately, scrapping the present system isn't necessary. Reform would be enough -- as long as it's a bold overhaul, not just tinkering around the edges." (Kiplinger)

State and Local Government Spending on Public Employee Retirement Systems, May 2013 Update (PDF)
"Changes to benefit levels and required employee contributions adopted by states and cities have been diverse, dependent in part on such factors as the legal authority to make changes to benefits or required employee contribution rates, and the plan's financial condition prior to the 2008-09 market decline. Generally, states and cities with a history of paying their required pension contributions are in better condition and have needed more minor adjustments to benefits or financing arrangements compared to those with a history of not adequately making their contributions." (National Association of State Retirement Administrators)

Plan Sponsors Focus on Retirement Readiness
"Automatic enrollment has had a positive impact on plan participation by employees, according to 86 percent of plan sponsors who have implemented it. The Roth 401(k) continued to increase in popularity, with 53 percent of plan sponsors reporting that their plans now offer a Roth option, a 6 percent jump from 2011. Individual financial counseling and advice is being offered by more plan sponsors -- from 50 percent in 2011 to 61 percent in 2012 -- further underscoring the emphasis they are placing on participant education." (Society for Human Resource Management)

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