Retirement Plan Solutions - Summer 2017
According to the Department of Labor, over 47 percent of the U.S. work force is comprised of women. However, when it comes to retirement readiness, many of these 74 million female employees will face greater challenges than their male counterparts. In this issue we explore the factors behind women and the retirement gap.
The bipartisan proposal of the Lifetime Income Disclosure Act seeks to require a retirement plan to show, at least annually, the monthly income a participant would receive from their 401(k) plan in retirement in the form of annuity payments. For greater perspective on this proposal, we spoke with Tom Totten, CEO and Actuary at Nyhart.
Total returns from both stocks and bonds in the United States and Western Europe are likely to be substantially lower over the next 20 years than they were over the past 30 years according to a recent McKinsey Global Institute report. We take a look at the report’s findings and what it may mean for retirement plan participants.
Lastly, we update you on the latest ABG news and discuss important compliance deadlines in Tax Talk. We hope you find this issue informative. As always, your ABG representative is available to answer any questions you may have.
Dennis Davis, SPHR, CEBS, QKA, QPA, CPC