Frequently, the news about retirement is pretty pessimistic. Pensions no longer exist for most workers, we aren’t saving enough, and Social Security is going to disappear. However, things may not be as bleak as they are often painted. If you’re a retirement plan sponsor, you may be wondering how you can help your employees prepare for retirement.
A lot of people focus on things to do after they retire, but there are a number of things you should take care of before you hit that milestone. Retirement planning specialists, The Participant EffectSM, explain the steps that will help you better prepare for retirement and help make this transition successful.
A secure and enjoyable retirement doesn’t just happen. You need to plan for it. And the sooner you start planning, the more time you’ll have to make changes and adjustments to meet your retirement goals. Here are seven things you should consider for your retirement plan. - What will you do?
People have many reasons to avoid saving for retirement and much of it relates to psychology. Many people don’t understand or refuse to consider retirement planning. Some may fear it’s already too late, while others are simply unwilling to make the changes needed to work toward a secure retirement.
Many employers may be weighing the pros and cons of establishing a retirement. It’s often cited as a recruitment tool, but do employees really care about potential retirement benefits? According to professional services company Towers Watson, the answer is “yes.” Towers Watson’s 2013/2014 Global Benefits Survey asked 5,070 U.S.
The team at The Participant EffectSM knows that a lot of people think retirement plans can be complex and often confusing. However, as individuals assume more and more responsibility for planning for their own retirements, it’s important that you understand some of the terminology you’ll encounter:
Helping your plan participants understand the importance of retirement planning and how they can best accumulate assets is one of the primary responsibilities of plan sponsors. While plan participants don’t need to know every aspect of portfolio management theory, there are a few key concepts that every participant should understand: