401(k) Specialist Issue 3 - 2020 - 15

401(k) NEWS YOU CAN USE
Top 10 Best and Worst States to Retire
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FLORIDA MAN HAS HIS REVENGE.
Blacktower Financial Management Group has revealed the best and worst U.S. states for retirees
in 2020 (and how these have changed year-over-year) based on crime rates, cost of living, life
expectancy, property prices and population age.
Florida took the top spot in 2020, compared to ranking ninth in 2019.
Unfortunately, Alaska came in at the bottom, named worst state for retirement for the second
year in a row.
The 10 best states
1. Florida
2. Minnesota
3. Iowa
4. Ohio
5. Texas
6. Wisconsin
7. Nebraska
8. Pennsylvania
9. Illinois
10. Idaho
The 10 worst states
Surprisingly, Hawaii checked
in right behind Alaska due to
expensive real estate and cost
of living, driving retirees to the
mainland when looking for a
retirement home.
1. Alaska
2. Hawaii
3. Nevada
4. New Mexico
5. Tennessee
6. Alabama
7. Louisiana
8. Maryland
9. Arkansas
10. Montana
Demographics of the DC Plan:
Who Likes What?
XPERTHR RECENTLY FOUND that adoption of the most popular
retirement plan overall-the traditional 401(k)-varies notably by
industry. While 81% of manufacturing organizations and 78% of
services firms offer it, only about two in five (42%) non-business
organizations do so.
This difference is likely due to the fact that certain organizations
in the non-business sector, such as public schools, certain tax-exempt
organizations, and state and local governments have other
options available specific to them such as 403(b) plans and 457
plans. Indeed, one-third of non-business organizations offer 403(b)
plans and 25% offer 457 plans.
Roth 401(k) plans are most popular in the manufacturing sector,
as 59% of these companies offer this type of plan, compared with
41% of services firms and 23% of non-business organizations.
The traditional defined benefit pension-while largely a holdover
from the 20th century-still maintains a presence in the modern
workplace. While just 11% of all responding organizations have a
traditional pension plan, 31% of companies with at
least some union-represented employees offer this
benefit to all or most of their workforce.
© Hobbitfoot | Dreamstime.com
ISSUE 3 2020 | 401kSpecialist.com
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401(k) Specialist Issue 3 - 2020

Table of Contents for the Digital Edition of 401(k) Specialist Issue 3 - 2020

Table of Contents
401(k) Specialist Issue 3 - 2020 - Cover1
401(k) Specialist Issue 3 - 2020 - Table of Contents
401(k) Specialist Issue 3 - 2020 - 1
401(k) Specialist Issue 3 - 2020 - 2
401(k) Specialist Issue 3 - 2020 - 3
401(k) Specialist Issue 3 - 2020 - 4
401(k) Specialist Issue 3 - 2020 - 5
401(k) Specialist Issue 3 - 2020 - 6
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401(k) Specialist Issue 3 - 2020 - 47
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401(k) Specialist Issue 3 - 2020 - 49
401(k) Specialist Issue 3 - 2020 - 50
401(k) Specialist Issue 3 - 2020 - 51
401(k) Specialist Issue 3 - 2020 - 52
401(k) Specialist Issue 3 - 2020 - Cover3
401(k) Specialist Issue 3 - 2020 - Cover4
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