Blogs

On the surface, retirement readiness did not suffer significantly in 2020, according to a close examination of the 1.1 million participants in 1,076 plans reviewed for a recent white paper. Of course, the market experienced significant dips in the first quarter of 2020, but results were broadly positive the rest of the year. Overall, year-over-year retirement readiness was down fewer than two percentage points — concerning, but not devastating. The paper, John Hancock’s State of the Participant 2021, examined data for the year ending September 30, 2020, digging deeper to see how participants...

Understanding Uncertainty: Retirement Plan Webinar View Full Webinar Presentation All of us are surrounded by fear of risk. When the media discusses investments, so much is driven by what an investor could lose or gain. Some investments are marketed as growth, guaranteed, or safe. What is risk? What risks are relevant in your retirement plan? What is considered investment risk and what is our own behavioral risk? What do you do as a saver to combat the short and long-term risks so pervasive in our society? With the right strategies, you can manage risk and help grow your retirement account...

Do you feel like you spent the last year gripping the steering wheel and waiting to see what would happen? You aren’t alone. Still, as we collectively look ahead and the chaos wanes, bits of good news are emerging. In the investing world, 2020 was a year of records and firsts. The Dow Jones Industrial Average closed out the year at well over the 30,000 mark, setting a new record high as it increased more than 7% from the beginning of the year. And right on the heels of that good news comes the annual survey from the Profit Sharing Council of America (PSCA). Based upon 2019 data — the most...

Tax season is upon us. While everyone’s financial situation is different, there are some basic guidelines to get you started. File Electronically This is the quickest way to get your tax refund. There are many online platforms that make filing your taxes safe and easy. You’ll need your account number and your bank routing number for a direct deposit. Personal Information The Internal Revenue Service (IRS) will need to know who is filing and who is covered under your tax return. Be sure to have your social security number and date of birth ready for you and other members in your household...

Before the pandemic struck, sponsors of U.S. defined contribution plans were realizing the benefits of calling outside assistance for guidance. Even more seem to be doing so today. Relying on consultants and financial professionals for the very specialized help they provide can help sponsors weigh options. What’s more, it may provide a level of protection for those with authority over the plan, and may improve the plan’s performance. The 2020 Inside the Minds of Plan Sponsors survey found that 58% of plan sponsors rely on a consultant or financial professional — up 16% from the prior survey...