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Roth Will Be 21 Years Old Next Year

By Jack Towarnicky

What Should A Plan Sponsor Do Now That Roth Provisions Are Likely Here To Stay?!  

Baby, look at you now!  Next year, Roth will be 21 years old (See blog Roth Celebrates its 20th Anniversary!)

Last year, as part of the Tax Cuts & Jobs Act of 2017 legislative process, the Plan Sponsor Council of America (PSCA) became a founding member of the Save Our Savings Coalition (SOS). Read More >>

America Doesn’t Save Enough Week

By Jack Towarnicky

This week is America Saves Week.  And today, Thursday, March 1st, is “Save to Retire” day. The recommended “save to retire” actions are:    

“Saving now for retirement will ensure you have enough money to have a comfortable standard of living when you stop working or reduce the amount of hours you work. Read More >>

Roth Celebrates Its 20th Anniversary

By Jack Towarnicky

How Did We Get Here?  Where Are We Now?   

America doesn’t have a formal, stated, retirement policy.  Individual Retirement Account (IRA) and employer-sponsored retirement plan provisions are creatures of our income tax system.  Throughout the past 45+ years, we have seen American’s retirement savings take a back seat to federal government budget and revenue needs. Read More >>

Risk Exposure: Company Stock

By Jack Towarnicky

I was somewhat surprised to see how many plans still offer Company Stock as an investment option.  PSCA Survey data from 2000 showed that 39% of surveyed plans offered company stock as an investment option.  Today, I was surprised to see that 18% of surveyed plans still offer company stock, and that 14% of all plan assets are invested in company stock. Read More >>

The Disconnect: Few Prepare for Retiree Health Needs/Expenses

By Jack Towarnicky

Top Retiree Priority?  Good Health.  Largest Retiree Expense?  Health Costs.  Yet, only a handful of plan sponsors offer access to retiree medical coverage and funding options. 

According to the 2017 Merrill Lynch study titled, Finances in Retirement: New Challenges, New Solutions, today’s retirees tell us that the number one ingredient for a happy retirement is health. Read More >>

Leaving Match on the Table? Part 2 of 2: Innovations to Make Up for Missed Opportunities.

By Jack Towarnicky

Our just-released 60th annual PSCA survey confirms a steady increase in employer contributions over the past 10 years.  Employer contributions averaged 3.8% of payroll in 2007.  During the Great Recession, it dipped in 2008, 2009 and 2010 before increasing in 2011. Read More >>

Hardship Withdrawals – An Attractive Nuisance Becomes More Attractive

By Jack Towarnicky

“Attractive Nuisance” – In the law of Torts, the attractive nuisance doctrine holds a landowner liable if the injury is caused by a hazardous condition that is likely to attract trespassing children or others who are unable to appreciate the risk involved. Read More >>

Houses and Cars and Savings, Oh My!

By Jack Towarnicky

(Is there something wrong with workers who save up and borrow to make a major purchase?)

Throughout the past few weeks, several articles highlighted workers’ retirement saving behavior and debt. For example: 

  1. John Manganaro,, “Pressing Financial Needs Derail Successful Savers,” January 16, 2018. Read More >>

Leaving Match On The Table: Part 1 of 2 - Connecting the Dots.

By Jack Towarnicky

Yesterday morning, I ran into three dots.  Here’s how they connect (at least in my mind):

  • A full page E*trade ad in the Wall Street Journal, page B5 on February 5, shows a burrito, wrapped in foil, with a bite taken out of it. Read More >>

Another Nobel Laureate in Economics Who Is Focused on 401(k) Plans - Part 3 of 3

By Jack Towarnicky

In October, we focused on Richard Thaler, the 2017 Nobel Laureate in Economic Science.   In December, we highlighted Franco Modigliani, the 1985 Nobel Laureate.  Today, we extend our thanks and admiration to Robert Merton, the 1997 winner for his work on difficult to price investments (derivatives, options, corporations, etc.). Read More >>

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