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'Clock is Ticking' for Tax Exempt Organizations to Meet 403(b) Plan Document Deadline

"Tax exempt organizations (other than designated church plans) have until March 31, 2020, to adopt a pre-approved prototype document to ensure consistency and compliance. ... [T]ransferring and reviewing the data to adopt the IRS plan ... typically averages at least 15 or more hours of labor for each plan sponsor."

American Workers Want Life Insurance as an Employee Benefit

"Although 28 percent of employed Americans have voluntary group life insurance through their employer, 59% of workers who say they don't because their employer doesn't offer it say they would be likely to purchase it if it was an option.... Those who have it say it increasingly gives them 'peace of mind' that they are after (44% in 2018 vs 53% in 2019) to survive should a tragedy happen."

Only 4 in 10 Employees Protect Their Paychecks with Disability insurance

"Roughly 4 in 10 working Americans (41%) report they have employer-sponsored disability insurance coverage ... Of the 64% of working Americans who report not having voluntary disability coverage, just under half (47%) say it is because their employer does not offer it; among them, nearly 3 in 5 (58%) say if their employer was to offer it, they would be likely to purchase it."

Understanding and Achieving Participant Financial Wellness (PDF)

12 pages. "Participants 50 or older, participants with high household income and participants with high retirement account balances are more likely to indicate having enough money to retire is their closest definition of financial wellness. Participants 49 and younger, participants with household income under $100,000 and participants with retirement account balances under $100,000 are more likely to indicate that being able to meet day-to- day expenses aligns with their definition of financial wellness."

Student Loans Have Significant Impact on Retirement Preparation

"Nearly 4 in 10 survey respondents indicated they are paying toward a student loan for themselves or on behalf of someone else. Of those, an astounding 85 percent of respondents paying toward student loans reported that their obligation to repay the funds are impacting their ability to prepare for retirement. Of that group, 38 percent said that student loans are having a 'significant impact' on their ability to prepare for retirement."

Group Life Insurance a Desirable Voluntary Employee Benefit

"Although just over a quarter of employed Americans (27%) have voluntary group life insurance, 68 percent of workers who say they don't because their employer doesn't offer it would be somewhat or very likely to purchase it if offered at their company.... 60 percent of employees who have it say it's to protect family/loved ones from future financial hardship; ... 27 percent to replace a spouse/partner's income in the event of their passing; and 26 percent to leave an inheritance for children or grandchildren."

Most Americans Don't Have Long-Term Care Insurance

"Only 25% of adults reported having LTC insurance. 'It is too expensive' was the most common reason chosen for not having LTC insurance (53%), ahead of 'I don't want to pay for something I may never need' (25%) ... [A]mong those who do not have LTC insurance, nearly half -- 49% -- of Americans with annual household income of $75,000 or more cited it being too expensive as a reason they don't have LTC insurance."

Less Than Half of Employed Americans Have Workplace Group Life Insurance

"Less than half of employed Americans (45 percent) have voluntary group life insurance provided by their employer. Among those who don't have voluntary group insurance provided by their employer, only a small percentage (9 percent) said they had other obligations or did not see the value in it (14 percent)."

Most Americans Not Protecting Their Paychecks with Disability Insurance

"[A]mong employed Americans who do not have short- or long-term disability insurance provided by their employer, 43 percent say the reason is because their employer does not offer it. Only 14 percent say the reason they don't have it is because they cannot afford coverage; a combined 34 percent don't have policies through their employer due to other obligations or expenses they feel are higher priorities (12 percent), don't see the value (12 percent), or say 'I am healthy and don't need it' (14 percent)."

Workplace Promotion of Retirement Benefits Is True Trigger for Younger Participants

"Employer promotion of the retirement plan is most effective at spurring those younger than 35 (40 percent), followed by 35- to 49-year-olds (32 percent) and lastly those aged 50 and older (32 percent).... It's imperative that plan sponsors and financial professionals get involved early in every sense of that word. They need to think of themselves as a trusted resource for their employees -- particularly those younger than 35. They have an opportunity for an influential role that includes guidance, retirement education, communications and resources to promote financial wellness."