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3 ways companies can deal with 2017's mass retirement

The Predictive Index

Employee Engagement & Retention employee engagement employee retention retirement plan retirement retiring employeesBy Elsbeth McSorley.

401k Retirement Infographic

Something Different

Check out this great retirement infographic from Personal Capital outlining a myriad of facts about 401k plans. From the amount of money most people are saving, to the amount most people need, this infographic has it all. Check out out, and if you like what you see then follow Personal Capital on Twitter here. Happy Friday, Rory. Benefits 401-k benefits hr human resources

The SHRM CEO is Retiring

Laurie Ruettimann

The CEO of SHRM is retiring. SHRM has had major PR gaffes under the retiring CEO, and some of those blunders continue to confuse its membership to this day. The post The SHRM CEO is Retiring appeared first on Laurie Ruettimann. What’s SHRM? It’s the AARP of HR professionals. They are an association who do commercials on CNN and tell everybody about how great it is to work in HR. And, like the people AARP who want us to believe that being an old lady is empowering, they are lying to us. Who gets excited about turning 50? I’ll turn 50. ” 2. ” 3.

Small Business Retirement Marketplace: Innovative Solution to Retirement Woes


The Washington Small Business Retirement Marketplace is offering a retirement solution for employers and employees

Forced retirement is an age discrimination no-no

Ohio Employer's Law

While not necessarily on point, this case does segue into an important issue—mandatory retirement. It’s still a fairly popular misconception that businesses can force employees to retire at a certain age. In truth, with the exception of a few limited circumstances, mandatory retirement ages are about as close to a slam dunk case of illegal age discrimination you can find.

Comparing Small Business Retirement Plans


For small-business owners and fledgling entrepreneurs, offering a solid retirement plan is no luxury — it''s a necessity. This article gives an overview of retirement plans small-business employers may consider offering their workers

The Case For Switching Retirement Providers


Switching retirement providers to better meet the needs of your small business and its employees may be a daunting, but ultimately beneficial, experience. Here are some common reasons why businesses decide to make the switch

it’s time to retire these workplace phrases

O.C. Tanner

Consult this list to see whether you’ve been using these workplace phrases it’s time to retire. There’s a time and a place for business jargon—and with the rise of social media and the 21 st century workplace, we’ve accumulated a wealth of new words to communicate our modern work lives. But even as new phrases are coined, old business jargon falls out of style. Let’s put our heads together.

Work Now, Retire Later


Despite the attraction of retirement, however, the baby boomer generation continues to delay leaving the workforce. Human Capital Management Retirement ADP Research Institute adpri Employee Benefits retirement Retirement Planning

What Employers Need to Know About the US DOL Final Rule & State Retirement Programs


Let’s be honest: regardless of age, we all sometimes dream about retirement. Unfortunately, for a lot of Americans who aren’t eligible for retirement savings plans through their employer, those dreams are difficult to make a reality. Although the DOL final rule takes effect October 31, 2016, no state retirement programs are scheduled to be in effect until 2017.

Help Millennials Make Retirement Saving a Priority


Millennials, especially those who have just begun their first full-time job, may not be thinking about stashing savings away for their retirement. But it doesn’t have to be difficult. Is there anything an employer can do to encourage saving in an environment of low entry-level wages, and high college debt

Are Your Employees’ Student Loans Hurting Their Ability to Save for Retirement?

HR Daily Advisor

While student loans can be a drain on short-term finances, a new survey from Aon Hewitt , the global talent, retirement, and health solutions business of Aon plc, reveals that workers with student loans can also potentially feel the strain into their retirement years. “These workers see the value in saving for retirement, but their loans are creating a speedbump.

Future Friday: The vision of retirement is already changing

OmegaHR Solutions

Older workers eschewing retirement because they want to stay working. The vision of retirement is undergoing a major change. Many people envision that retirement is sitting at the local Starbucks chatting with friends or sitting on the front porch rocking away enjoying “the good life.” Many older workers today are not retiring for a number of reasons. Mortality.

Understanding ERISA Fiduciaries and Their Retirement Plan Responsibilities


With retirement plans come ERISA fiduciaries and their responsibilities: What are fiduciaries, and how do they help keep your retirement plan safe and functioning well for your employees

6 Steps to Take Before Key Employees Retire

ATD Human Capital

An increasing number of workers are approaching retirement age in the United States. One organization that is facing this threat of impending retirements is KONE, a major Finnish company (with a large U.S. Several of these “go-to” veterans have expressed their intent to retire or drastically reduce their work hours. Case in Point. Within KONE’s U.S.

Why Job Hopping Hurts Your Retirement


Any step taken in haste may as well translate into a difficult post-retirement phase with very little savings to fall back on to meet your essential daily and old-age health and other expenses. Not in the least, if one does his or her homework well and chalks out an exit plan on the basis of existing financial standing to cope with the vagaries of a life after retirement. But, wait!

Retirement Savings Gone to the … Worms?

HR Daily Advisor

Retirement is something most people look forward to! Most people start saving for retirement in their twenties either by investing in a 401(k) or in a Roth IRA. But one paranoid man decided not to trust John Hancock or the banks, so he buried his retirement savings in the ground. Unfortunately, as HR SBT would have it, his entire life’s savings went to the worms.

Employee Well-being Needs to Include Retirement Plans

HR Bartender

He’s responsible for leading the retirement, investment counseling, and risk management teams in the U.S. Aloise] Actuarial science, particularly as it relates to valuing the liabilities of a pension plan, is a critical need in managing the retirement benefit programs for many organizations that sponsor a defined benefit pension plan. Enjoy the post!). Yes, it’s true. I’m curious.

Prepare for Nurse Retirements and Shortage with Intelligent Workforce Planning


With baby boomers heading into retirement — by 2050 an estimated 88.5 But there is another retirement population that is perhaps even more worrying to them: nurses. This means that more than one million RN’s will reach retirement age within the next 10-15 years, leading to a drastic shortage of skilled, tenured nurses. million people in the U.S.

New DOL rule: Cities can start private-sector retirement plans

HR Morning

Employers within certain large cities and political subdivisions that don’t already offer their employees a retirement plan may soon have more administrative work on their hands. . The DOL claims that city officials had been interested in establishing retirement accounts for private-sector employers but feared being subject to ERISA. What employers would have to do.

Retirement Benefits: Better at Attracting Employees than Health Care?

HR Daily Advisor

A recent survey conducted online by Harris Poll on behalf of Nationwide found that 29% of SMBs with less than 300 employees who offer 401(k) retirement plans and plan to increase contributions say that they are doing so because the ACA has made health benefits less attractive to employees. The post Retirement Benefits: Better at Attracting Employees than Health Care?

Retirement: Expectations vs. Reality

HRE's The Leader Board

A comprehensive survey of workers and retirees by the Transamerica Center for Retirement Studies reveals a big disconnect between employees’ expectations concerning retirement and what they — and their employers — are actually doing to prepare for it. Among workers age 50-plus who are investing for retirement, 41 percent use an advisor. benefits retirement

Is the Tide Turning on Retirement-Readiness?

HRE's The Leader Board

There appears to be a shift away from what, heretofore, have been dismal findings on Americans’ retirement preparations. And we’ve certainly written about them, all the stories positing the harsh reality that many people nearing retirement in today’s workforce can’t see themselves ever affording it. You’ve heard them. You’ve read them.

Future Friday: The end of retirement?

OmegaHR Solutions

The fifth change they talked about is the subject of retirement, something, I must admit, has been a more frequent subject in my life. There are a number of reasons that the “standard” retirement age of 65 is no longer viable. Already in the US the full retirement age for anyone born since 1943 is 66, not 65. Phased retirement. Forget 65. years; for males, it’s 76.4

Should Your Employees Use Their HSAs as Retirement Accounts?


According to some estimates, a relatively healthy 45-year-old who plans to retire at 65 should expect to pay retirement health care costs of almost $600,000 – and that’s at today’s rates; inflation projections put that amount at $1.6 One study suggests that the answer is a resounding no ; the average American couple, just 10 years away from retirement, only has $17,000 saved up.

The State of Retirement Saving in America and How to Fix It


The statistics are in: Employees aren't doing enough to save for retirement. Here are some ways to more proactively help your employees with retirement planning while also helping your business improve its bottom line

DOL and IRS want a closer look at your retirement plan

HR Morning

Two of the most-feared government agencies for employers — the DOL and IRS — have decided there’s a real problem with the way retirement plans are being run, and they’re ramping up their audits to find out why that is. In this week's e-newsletter Pay and Benefits audits dol IRS retirement plansWhat does that mean for you? ” What to watch for.

6 Frequently Asked Questions about Retirement Plans


While HR professionals must field a variety of questions about how retirement plans work, there are a few that are often repeated. Prepare yourself by answering these six common retirement plan questions

How Not to Throw a Super Lame Retirement Party


When you receive a retirement party invitation in your inter-office mailbox, what are the first thoughts that run through your head? Whether an employee has dedicated 20 years to your organization or just the final 5 of their career, retirement is something to celebrate ! Whatever it is, make sure their unique interests are represented at their retirement shindig!

Smaller Businesses Need An Employee Retirement Program Too

TLNT: The Business of HR

Navigating the vast array of retirement plan options can be challenging for small and mid-sized businesses. Government Accountability Office found that only about 14% of small businesses (fewer than 100 employees) offer retirement plans to employees. 401(k) Compensation & Benefits Retirement FeaturedIn fact, a recent survey by the U.S.

Expert: The staggering new retirement savings number millennials have to hit

HR Morning

Want to jolt your younger works into contributing more to your company-sponsored retirement plans? After looking at several studies, estimates and financial experts’ opinions, Robert Powell, USA Today’s retirement planning expert, and editor of Retirement Weekly , is predicting that millennials will need upwards of $2.5 million saved to comfortably retire.

Retirement Planning 101 for Business Owners


As a business owner, retirement planning may not be a primary focus when dealing with your day-to-day operations, but it can be an extremely compelling component of your benefits package. Learn about the basics of retirement planning

David Letterman’s Retirement Kicks Off the Great Boomer Exodus

TLNT: The Business of HR

When asked by The New York Times to describe his impending retirement, David Letterman called it “a good solid punch to the head.”. more…). HR Insights Talent Management Change management Engagement Generational issues HR management Management talent management

Traditional Retirement Just Isn’t for Me


This was prompted by an excellent piece published on LinkedIn and Uncommon Wisdom Daily called Why are So Many Saying ‘No’ to Retirement? That’s what many Americans think of when contemplating retirement….Yet Yet these days, more Americans are just saying “no” to traditional retirement. With birthdays in June and July we will both turn 65 (and I must say, we have both aged well, thank you) and we have no intention of retiring. For one thing our official retirement age according to Social Security is age 66 for full benefits. So why retire?