Tag: Retirement

The Impact of COVID-19 on Retirement Readiness for the Higher Ed Workforce

Editor’s note: Be sure to join Paul Yakoboski, senior economist at TIAA Institute, and Melissa Fuesting, survey researcher at CUPA-HR, on Wednesday, May 26 at 2:00 p.m. (ET) for the webinar, “Faculty Retirement Patterns and COVID-19: Impacts, Challenges and Opportunities.” In addition to their findings on changes to the expected retirement age for faculty, Paul... View Article

Will the Pandemic Accelerate or Postpone Retirement?

This blog post was contributed by Christina Cutlip, senior managing director of client engagement and national advocacy at TIAA. A crisis like the one we’re going through tends to leave an imprint both physically and mentally. Employees’ financial outlook have been especially affected as they’ve either experienced a worst case scenario or realized that bad... View Article

Employee Retirement Income Security Act of 1974 (ERISA)
Members Only

Since its passage in 1974, the Employee Retirement Income Security Act (ERISA) has served to protect the interests of private-sector employees with respect to voluntary pension and health plans. It does not require employers to establish pension or health plans, but it regulates the operation of plans once established. It specifies vesting rules, sets minimum... View Article

Retiree Health Insurance
Members Only

Organizations are increasingly deferring to Medicare and Medicare supplemental plans to provide health insurance for their retirees. The Early Retiree Health Re-Insurance Program, created by the Affordable Care Act, provides reimbursement to participating employment-based plans for a portion of the costs of health benefits for early retirees and their spouses, surviving spouses and dependents. Institutional... View Article

Retirement Programs (Early and Phased)
Members Only

Early and phased retirement programs have become especially popular in the past few years in both the public and private sectors. As economic constraints on organizations worsened, programs to reduce costs became imperative. Since the human resource is one of the costliest elements of a budget, RIFs, furloughs and retirement incentives became a partial solution... View Article

Retirement General Overview
Members Only

In the United States, retirement plans are regulated by the Department of Labor and are generally defined in terms of the tax status they are given under the IRS code; that is, qualified or non-qualified for special tax treatment. They are further governed by the Employee Retirement and Income Security Act of 1974 (ERISA), the Pension Protection... View Article

Supplemental Programs
Members Only

Supplemental retirement plans and group supplemental retirement plans provide tax-deferred savings and allow employees to put away more for retirement beyond the basic retirement plan an employer offers. While the details of different tax-deferred plans vary, they all work the same way: money goes straight from an employee’s paycheck to an investment account, reducing current income taxes. Potential investment earnings won’t... View Article