Brian Graff, CEO of the American Retirement Association, explores possible adverse effects of the Trump administration's mooted tax reform on 401(k)s. Although details have yet to emerge, Graff said at a National Advisor Plan Association conference a freeze on contribution limits is possible.
Elderly people are poised to face a 20.8% increase in health care costs for home services and nursing facilities in the next decade, while costs of continuing-care retirement communities could rise 25.8%, says The Conference Board. The higher costs will create a need for employers to provide solutions to benefit employees providing care for ill or elderly parents, experts say.
President Donald Trump has told Republican lawmakers they could lose their seats if they don't vote for legislation that would replace the Affordable Care Act. One House member notes a lack of detail of the plan, and several lawmakers are unconvinced.
About 6 in 10 US workers have saved for retirement, and 3 in 10 are stressed about such savings, according to the 27th annual Retirement Confidence Survey. About 4 in 10 respondents have tried to determine how much savings they will need to retire.
The latest survey from the Employee Benefit Research Institute finds that 37% of American workers estimate they would need at least $1 million to ensure a comfortable retirement, compared with 19% who quoted that figure a decade ago. However, the survey noted that the estimates are closely correlated to respondents' current income.
Given the rise in cyberthreats and cyberattacks, why have so few financial services organizations fully embraced the cyber insurance market? Learn about the roadblocks along with steps the industry could take to overcome them. Download the infographic.
Organizations continue to invest heavily in cybersecurity efforts to safeguard themselves against threats, but far fewer have signed on for cyber insurance to protect their firms after an attack. Why not? What roadblocks exist, and what steps could the industry take to help clear them? Read the report.
US stock markets Tuesday had their worst day of trading since Oct. 11, with all the main indexes posting losses, including the Standard & Poor's 500 index and the Dow Jones industrial average. Financials and industrials were hit hardest, dropping 3% and 2% respectively.
US District Judge Barbara Lynn has denied a motion seeking an injunction to prohibit the Labor Department from enforcing its fiduciary rule while opponents appeal a ruling that upholds the legality of the rule. Lynn said plaintiffs had failed to satisfy any legal test to justify an injunction pending appeal.
The industry consensus seems to be that President Donald Trump's appointments to the Securities and Exchange Commission cannot be predicted. Two vacancies will remain if the Senate confirms independent Jay Clayton as chairman.