The study found that only 11% of Gen X and 31% of boomers say they have saved the often recommended, 10 times or more of their current annual salary for retirement.
Class action lawsuits alleging violations of the Employee Retirement Income Security Act of 1974 are on the rise nationally against companies allegedly charging a higher premium for policyholders who use tobacco.
Employer payments of principal or interest on an employee's "qualified education loan" may be eligible for tax-free treatment up to the $5,250 annual maximum, as part of an employer's "educational assistance program."
Employers should take a holistic view of their 401(k) that considers plan design, employee profile and behaviors and communication programs so that the plan can be tailored to the profile of the employees at their firm, says a John Hancock report.