Retirement accounts that remain after a worker leaves are an annoyance to plan sponsors and a burden for company administrators.Read More
Gun-shy employees are keen on investments that provide guaranteed income, though there is little interest in diversification.
Putnam Investments' Robert Reynolds laid out a three-point plan—making Social Security solvent, providing employer savings programs to everyone who pays Social Security taxes and raising workplace savings rates to 10 percent—that he said should be addressed in every federal campaign.
Before a plan can be terminated, it needs to have all the funds necessary to pay benefits to employees. Once that happens, plan sponsors can start the process of shutting down the plan.Read More
Large and small employers have banded together to form the Essential Health Benefits Coalition to voice concerns in Washington and statehouses around the country on the issue.Read More
Employers are addressing the practice in part by looking at their benefit design and increasing deductibles and lowering out-of-pocket maximums so workers must pay a larger share for going out of network.Read More
Called HR InTouch Marketplace, the online private exchange mimics a retail site where employees can go online and add their chosen plans to a shopping cart. Read More
The development of the restructuring will set a precedent, particularly at a time when local government budgets and defined benefit plans are under strain.Read More
Fidelity said April 11 that the number of health savings accounts it administered in 2011 jumped to 119,000, up 61 percent compared with 74,000 in 2010, its greatest annual increase.Read More