401(k) Specialist Issue 4 - 2017 - 8
401(k) NEWS YOU CAN USE
What Are Business Owners Saying About
Retirement Benefits?
A SUNNY OUTLOOK HAS BUSINESS OWNERS SINGING, at least
about retirement benefits. The bosses claim a positive economic
outlook and anticipated sales growth have many reconsidering their
retirement benefits.
In fact, 50 percent of business owners who offer a 401(k) plan
intend to increase retirement plan contributions, with 55 percent
citing rising sales or revenue as the reason, according to a new Nationwide
study.
Meanwhile, 36 percent of business owners who currently don't
offer a plan but intend to offer one soon say it's because they expect
sales revenue to increase in the next 12 to 24 months and will start
offering retirement benefits as a result.
Additionally, nearly a third (30 percent) of business
owners plan to introduce retirement benefits because of
continued economic improvement.
ONLINE
EXTRA
Top Reasons For 401(k) Plan Participation?
REPLACEMENT RATIOS AND RETIREMENT READINESS are all
the rage, as 401(k) plan sponsors focus on fiduciary responsibilities
and participant outcomes in the face of regulatory uncertainty
and rising litigation, a Deloitte survey finds.
Little surprise, sponsors are using lower cost options, direct fees
and simplified investment approaches to " help participants tackle
future retirement income needs " with the " evolving legislative
landscape, shifting fiduciary responsibilities and efforts to optimize
human capital balance sheets " acting as driving factors.
" As contribution and investment decisions move from the hands
of finance departments to individual participants, the expertise of
plan sponsors has shifted from a financial management role to a
keen attention on their fiduciary oversight role, " according to Stacy
Sandler, principal with Deloitte Consulting.
The survey also identified the top reasons for participation in a
defined contribution plan, with " taking advantage of the company
match " surpassing " a personal desire to save for retirement. "
" Lack of awareness or understanding " was the leading reason
that employees did not participate, while a past top-reason " uncertain
economy/job market " continued its downward trend.
8
ISSUE 4 2017 | 401kSpecialist.com
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401(k) Specialist Issue 4 - 2017
Table of Contents for the Digital Edition of 401(k) Specialist Issue 4 - 2017
Table of Contents
401(k) Specialist Issue 4 - 2017 - Cover1
401(k) Specialist Issue 4 - 2017 - Table of Contents
401(k) Specialist Issue 4 - 2017 - 1
401(k) Specialist Issue 4 - 2017 - 2
401(k) Specialist Issue 4 - 2017 - 3
401(k) Specialist Issue 4 - 2017 - 4
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401(k) Specialist Issue 4 - 2017 - 44
401(k) Specialist Issue 4 - 2017 - Cover3
401(k) Specialist Issue 4 - 2017 - Cover4
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