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From Cradle to Retirement, Diapers to Depends - Re-defining “Long Term” Investing. Part 1 of 2

11/30/2017
By Jack Towarnicky

Chris Carosa (DC Insights, Fall 2017) generously shared his thoughts on his book – From Cradle to Retirement – The Child IRA – How to start a newborn on the road to comfortable retirement while still in a cozy cradle.   

There are a myriad of definitions of what constitutes a long term investment that can be anything from 1 year to more than 10 years:

  • Investopedia: “A long-term investment is an account on the asset side of a company's balance sheet that represents the company's investments, including stocks, bonds, real estate and cash, that it intends to hold for more than a year. Read More >>

Looking For A Few “Good” Plan Sponsors

11/28/2017
By Jack Towarnicky

You’ve probably heard or seen the Marine Corps ad – “Looking for a Few Good Men.”  Well, I am starting a search for a few “good” plan sponsors.  

Many plan sponsors have themselves been searching for a payout or “decumulation” solution. Read More >>


Financial Wellness Via Your 401(k) 

11/07/2017
By Jack Towarnicky

Coming to you from Boston, at the Society of Actuaries Annual Meeting.

In a prior post, “DC Plans, Can Everyone Win?” I shared my thoughts on whether American workers could adequately prepare for retirement, and generally speaking, I think most can. Read More >>


“The mind, once stretched by a new idea, never returns to its original dimensions.”  Ralph Waldo Emerson

11/03/2017
By Jack Towarnicky

I love this Emerson quote.  Ever have one of those experiences? 

I did at the Society of Actuaries meeting last week.  The keynote speaker was Scott Page who spoke on the topic of “Cognitive Diversity.”  Professor Page is the author of the book The Difference: How the Power of Diversity Creates Better Groups, Firms, Schools, and Societies. Read More >>


Tax Reform Proposal Expected Soon

10/30/2017
By Jack Towarnicky

The House Ways and Means Committee is projected to launch their Tax Reform proposal November 1, 2017 or shortly thereafter.  No one knows all the details.  One potential detail is a proposal to raise revenue, to increase federal income taxes over the next ten year budget window by limiting 401(k) pre-tax contributions to no more than $2,400 a year. Read More >>


House, Senate Action Needed On Social Security

10/24/2017
By Jack Towarnicky

We are already making substantial progress in the employer-sponsored retirement savings marketplace. 

The Government Accountability Office recently issued a report which cites Plan Sponsor Council of America survey results - GAO-18-111SP, “The Nation’s Retirement System:  A Comprehensive Re-evaluation Is Needed to Better Promote Future Retirement Security” (https://www.gao.gov/assets/690/687797.pdf). Read More >>


DC Plans: Can Everyone Win?

10/20/2017
By Jack Towarnicky

This week I was part of a panel on the topic “DC Plans – Can Everyone Win?” at the Society of Actuaries Annual Meeting in Boston.

Many point to the increased use of DC plans triggering a “Retirement Crisis.”  We can confirm that:

  • If America has a crisis, it is less than the one we faced just two generations ago – where fewer had employer-sponsored plans, savings were modest and “invested” in passbook savings accounts at local banks or S&Ls, work was much more physical/blue collar, and only a few workers could afford to retire before they were physically unable to continue working, 
  • Millions of Americans are successfully saving and preparing for retirement, 
  • As a nation, after the Pension Protection Act of 2006, we are making great strides for those workers whose employer offers a plan, however, 
  • The retirement paradigm keeps changing. Read More >>

A Nobel Laureate Focused on 401(k)s

10/10/2017
By Jack Towarnicky

Congratulations to Professor Richard Thaler, the 2017 Nobel Prize winner in economics.  

Many of us know him through the book he co-wrote with Cass Sunstein, Nudge, which was published in 2008.  Professor Thaler was already famous in our community for highlighting the possibilities where behavioral economic tools and processes could be deployed in retirement savings plans. Read More >>


Who Gets To Decide When You Should Retire?

09/28/2017
By Jack Towarnicky

In their September 22, 2017 Wall Street Journal essay, University of Chicago Law School professors Saul Levmore and Martha Nussbaum assert “Let’s Agree on an Age to Retire”.   

Several assertions were simply wrong:

  • They propose: “Let’s Agree on an Age to Retire”. Read More >>

The 403(b) market – room for future upgrades?

09/25/2017
By Aaron Friedman

In my last post I talked about my neighbors’ discomfort with change, even though it positions us for the future. Some have complained a new TV service is inferior. While I agree there may be fewer bells and whistles, the new provider uses a fiber optic-based system with plenty of room for future upgrades. Read More >>


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