Aegis Retirement Group

The ERISA Industry Committee is looking for more guidance from the IRS on how retirement plan sponsors can satisfy non-discrimination testing and other specific “unanswered questions” to help plan sponsors implement the student loan match program now permitted under the SECURE 2.0 Act of 2022. On Friday, ERIC submitted a letter requesting additional technical guidance from the IRS to further help defined contribution plan sponsors provide employer matching contributions to retirement plans, based on a participant’s qualified student loan payments. ERIC referenced “several unanswered questions” about how the Department of the Treasury and the IRS would interpret Section 110 of SECURE 2.0. The comment period on the August IRS notice, which applies to plan years beginning after December 31, 2024, ends Friday. Remy Samuels in her post for PlanAdvisor provides additional details of the request here: https://lnkd.in/grR_DkSV #irs #studentloans #erisa #fiduciary #plansponsors

While retirement is still more than three decades away for Americans born during the late 1990s and early 2000s, a new report from the TIAA-CREF Institute, a think-tank within TIAA finds that many may take a more circuitous path to retirement. Unlike their parents, Gen Z is growing up with access to an abundance of financial knowledge, and while they desire independence, they struggle to associate retirement with financial freedom due to rising costs, perceived lack of reliable financial advice and other immediate priorities. These challenges make the path toward growing wealth difficult, observes the report. According to the findings, the leading reason Gen Zers lack retirement savings is because they don't know where to begin (35%). As a result, only 20% of the Gen Z population is saving for retirement. Additional insights are provided by Ted Godbout in his article for the National Association of Plan Advisors and you can access the full report at the end of the article. https://lnkd.in/gF7dCTjW #plansponsors #genz #retirement #retirementplanning #401k #housing

The U.S. retirement system doesn’t get high marks relative to other nations. In fact, the U.S. got a C+ grade and ranked No. 29 out of 48 global pension systems in 2024, according to the annual Mercer CFA Institute Global Pension Index, released Tuesday. It analyzed both public and private sources of retirement funds, like Social Security and 401(k) plans. A similar index compiled by Natixis Investment Managers puts the U.S. at No. 22 out of 44 nations this year. Its position has declined from a decade ago, when it ranked No. 18. Why is that? Find out here: https://lnkd.in/gTPQyRqE #retirement #401k #retirementplans

Wellhub, a corporate wellness platform that connects employees to the best partners for fitness, mindfulness, therapy, nutrition, and sleep, today released its 2025 State of Work-Life Wellness Report, revealing new data on employee wellbeing, including which benefits best support employees and how holistic wellness impacts the employee experience. Based on a global survey fielded between May and June 2024, the report compiles data from more than 5,000 global employees in nine countries. Key Findings Work stress is the most common cause of decreased mental wellness, surpassing inflation, anxiety due to AI and information overload. Additional findings of the study published in Allwork.Space | FUTURE OF WORK® can be found here: https://lnkd.in/gCnHPUzz #employeewellbeing #workstress #he #humanresources #mentalwellness

While retirement is still more than three decades away for Americans born during the late 1990s and early 2000s, a new report finds that many may take a more circuitous path to retirement. Unlike their parents, Gen Z is growing up with access to an abundance of financial knowledge, and while they desire independence, they struggle to associate retirement with financial freedom due to rising costs, perceived lack of reliable financial advice and other immediate priorities. These challenges make the path toward growing wealth difficult, observes the report from the TIAA Institute, a think-tank within TIAA. According to the findings, the leading reason Gen Zers lack retirement savings is because they don't know where to begin (35%). As a result, only 20% of the Gen Z population is saving for retirement. Ted Godbout writing in the National Association of Plan Advisors provides additional details here: https://lnkd.in/gF7dCTjW #genz #retirement #retirementsavings #401k

A recent study highlights a concerning gap between what retirees expect to spend on health care and the actual costs they are likely to face. Fidelity Investments 2024 Retiree Health Care Cost Estimate projects that a 65-year-old retiring this year will need an average of $165,000 for health care expenses throughout retirement—a nearly 5% increase from last year and more than double the estimate from 2002. Despite these rising costs, the average American still expects to spend only around $75,000. However, there are strategies available to help employees more accurately predict and plan for medical expenses in retirement. The team Aegis Retirement Group discusses these strategies and more in this month's The Retirement Times. #healthcare #healthcareexpenses #retirement #retirementplanning

"CIT Growth Continues With Adviser Backing" reads the headline in a current PLANADVISER article. As more plan sponsors turn to collective investment trusts to reduce costs, industry experts see both opportunities and challenges. The decision to switch to a CIT from a mutual fund is not always straightforward as is discussed in this article: https://lnkd.in/gvBE4qix #cits #retirementplans #401K #mutualfunds

Retirement plan sponsors are the first, and most important, line of defense in providing employees with well-managed retirement savings plans. However, they face significant challenges in the form of excessive and complex fee structures within the retirement plan marketplace. As the industry continues to evolve, it is vital for sponsors to take proactive measures in managing their fees to safeguard their participants' retirement savings and effectively fulfill their fiduciary responsibilities. With so many changes happening, plan sponsors must take an active role in managing retirement plan fees. Here are a few steps plan sponsors should consider according to Bradley Ferguson, EVP of SWBC. https://lnkd.in/gTZtxttC #plansponsors #retirementplans #401k

Only 40% of pre-retirees—those between five and 10 years away from their desired retirement age—say they are financially preparing for retirement. This according to New York Life Insurance Company’s latest Wealth Watch survey, released Sept. 17, which found that American adults overwhelmingly report they are not financially preparing for major life events like purchasing a home, starting a family, changing careers, or retirement. The survey also found half of pre-retirees think they will retire later than expected, and 22% think they may never be able to retire. Generation X pre-retirees report doubts as they approach their retirement years, with only a quarter believing they will retire on time. Additional details in this Brian Anderson for 401k Specialist Magazine: https://lnkd.in/gfBczbTd #401k #plansponsors #retirement #retirementplanning

Some people like to imagine the ideal windfall: A surprise (and tax-free!) inheritance from a distant relative whom you barely remember or never met. It’s much less fun to think about navigating a more typical bequest—an inherited IRA, which arrives laden with rules to follow, required minimum distributions, and possible tax complications. Tori Brovet writing for Morningstar says the situation can get even more tangled when you incorporate your relationship with the benefactor. Here are her insights: https://lnkd.in/gKmSkJzX #inheritance #windfall #ira #401k #retirement