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Using Multiple 'Data Points' to Determine How Much You Should Spend

"[While] the development of a reasonable spending budget is an important part of an individual's spending decision process, it is but one 'data point' of several that may be considered.... [O]ther possible data points that may also be useful in your spending decision process[:] Applying the ABC ... The ABC with recommended assumptions ... ABC run-out tabs ... ABC 5-year projection tab ... Historical record ... Your gut instinct."

Under ACA Program, Doctor Visits Would Become Data Points

"A new nonprofit is putting millions of Obamacare dollars towards an effort to turn routine doctor visits into a treasure trove of data on what medical treatments work best.... PCORI announced ... how it would move forward on that mission: spend $68 million to fund a network of health-care systems that cover as many as 12 million patients."

Observations on the NIRS Private Retirement System Analysis: Data 'Minding' is In Order

"Last week the National Institute on Retirement Security released a report ... that claimed that the median retirement account balance among all working individuals is ... $0.00. Moreover, that same report claims that '57 percent (more than 100 million) of working age individuals do not own any retirement account assets in an employer-sponsored 401(k)-type plan, individual account or pension.' ... [M]uch of the data -- and key elements, such as wealth, income, participation and retirement savings -- that underlie the conclusions is 'self-reported' which ... even the report's authors acknowledge '...can be problematic...'.... [C]aution in applying the conclusions seems well-advised."

SOA 2016 Mortality Scale Update Points to Lower Liabilities

"The Society of Actuaries has released updated projection scales for use with the mortality tables it released in 2014 and 2015. The revisions reflect actual 2012 and 2013 mortality data and 2014 estimated mortality data instead of previously assumed projections for those years. The revised data will typically produce lower liability estimates. Plan auditors will require that these revisions be considered in setting assumptions for plan and corporate financial statements."

Make Benefits Consulting Easier -- Through Data Solutions

"[T]he very best [data solutions] have three things in common: ... [1] they use objective, observable data-points; ... [2] their analysis is informed by a sound methodology; ... [3] their conclusions are both meaningful and easy to understand.... Well-honed analysis, with communication aids to support it, can clarify employee choices, and improve their engagement with employer benefits tools."

Controversy Over Provider Reimbursement Rates Points To Additional Investigations

Things That Make One Author ‘Mad as Hell’, Part 2

"[A] list of things ... that those in our industry generate, promote and often share as fact without any application of common sense, and no apparent appreciation for the damage done by their complicity in sharing such nonsense.... [1] Reporting on average -- well, anything ... [2] Surveys that show an average or median account balance -- with no delineation for age or tenure.... [3] A single provider survey that shows an average or median account balance.... [4] Surveys that claim participants want things they can't possibly understand.... [5] Data 'analysis' that takes real stuff, combines it with fake stuff, makes up a new scary-sounding name for it, and then claiming that vast majorities of all the retirement plans in existence are in 'violation.' "

Ensuring Clean Participant Data

"Having correct Social Security numbers and dates for critical life points, including birth and retirement, is integral to identifying missing and deceased participants ... Educating participants about why it's important to keep their own data up to date is crucial to keeping data clean ... Working with multiple providers could create inconsistency and discrepancies in data."

Participant Behavior When Changing Jobs Puts Their Retirement at Risk

"28% of rollover investors stayed in cash for at least 12 months, with minimal changes after the first three months following the contribution.... The median job switcher saw a 10% increase in pay, but a 0.7 percentage point DECLINE in their retirement saving rate when they switched employers.... [O]nly an average of 15.3% gained a plan upon job change. while an average of 20% lost access to a plan via work."

Fidelity, Pontera Clash Over 401(k) Access and Data Security

"The use of actual customer credentials to access accounts is a clear sticking point for Fidelity, because those credentials provide access to a user's full account experience -- not just their 401(k). Plan participant credentials held by third parties are not protected by a recordkeeper's security measures, which can put participant data and personal information at risk."