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Retirement Jargon Confusion

"Fiduciary Liability Insurance vs. Fidelity Bond ... Roth Contributions vs. Roth Conversions ... Multiemployer Plans vs. Multiple Employer Plans."

Simplifying Retirement Plan Design

"Many retirement plan provisions are still hopelessly complex ... and should probably be eliminated altogether (note that there is proposed legislation that would eliminate some types of RMDs). And 5500s are still way too complicated, along with the withdrawal, rollover, and transfer rules.... Eliminating jargon such as 'vesting schedule,' 'glide path,' 'rollover,' and the like, and removing numbers, particularly percentages, from retirement plan projections (since many participants suffer from math anxiety) can help."

Communicating Retirement Plan Changes During COVID-19

"As the world went virtual, so did many of these employee communication meetings. To the surprise of some plan sponsors, attendance at many of these online meetings was equivalent to -- and sometimes greater than -- the participation of in-person group meetings.... One of the benefits of the virtual meetings was the increased ability for employees to ask questions, either verbally or via chat. For those moderating these meetings, navigating the nuances of the various platforms, such as mute and chat, became a perfectible skill.... [V]irtual meetings allowed employees to schedule meetings at their convenience, often including spouses, partners, outside plan advisors, and others who would not normally have the ability to sit in on the meeting."

Effectively Communicating Your Retirement Plan Message

"When asked if their employer's communication program helps them make confident [retirement planning] decisions, 76% indicated 'Not Very Well / Not at All.' ... [P]lan sponsors can look to segment their participants ... and distribute communication materials that are the most relevant to each particular group of the employee population.... [It] is important for a plan's communication program to use many different media to deliver education.... [T]he type of information being communicated has an impact on the communication medium preference."

Retirement Lessons from the Four Seasons

"Financial wellness is a thing, even if you have a lot of money ... Retirement may not be so bleak, even when you're in financial difficulty ... Retirement paths can be very different, even among friends ... Celebrities -- and everyone else -- are living a lot longer."

Retirement Savings Cliches: Keep Some, Retire Some

"Let's take a look at the more popular retirement savings clichés and see if they should hang around or be 'retired,' themselves. [1] Pay yourself first ... [2] Cut back on your lattes so you can save for retirement ... [3] Save as early as you can ... [4] Don't put all your eggs in one basket when investing."

Is There a Retirement Crisis?

"[M]ost of the retirement crisis articles are predicated on data showing that many defined contribution account balances are insufficient to support a comfortable retirement, when, in fact, this is just a small piece of the retirement equation. To figure out whether a person will thrive in retirement from a financial perspective, there are many pieces to the puzzle, including: Social Security ... pension income, income generated by defined contribution retirement plan account balances, earned income ... expenses in retirement, degree to which the retiree is insured against financial risks ... longevity, familial situation, and taxes, among others."

Retirement Plan Outcomes: The Missing Puzzle Piece

"A plan sponsor can have a best-in-class investment array and extremely low fees, but if the participants cannot retire on time because their retirement account balances are insufficient, then the whole purpose offering a retirement plan is defeated! Not to mention the myriad of issues created when employees are forced to work past the age that they would normally retire."

The Retirement Plan Raiders are Back: Advisors Push for Withdrawals

"Why should retirement plan sponsors care about having their retirement plans raided by IRA salespeople? One important reason is that other retirement plan participants will pay a lot more if the individuals with the largest account balances leave their plans, since average account balances, as well as cash flow, are important drivers in recordkeeper pricing. And thus, an increasing number of plan sponsors have made conscious efforts to retain retirement plan assets."

Why Borrowing from a Retirement Plan to Pay Off Debt Is a Bad Idea

"Borrowing more doesn't address the issue of how the debt was acquired in the first place.... Some retirement plans require immediate repayment of loans if you change jobs, or else the entire loan is offset against your retirement plan account balance.... [B]orrowing from a retirement plan will ultimately reduce your income in retirement. The earlier in your working career you borrow, the greater the impact; due to the time-value of money."