Alera Group, Inc.

Alera Group Insights

Perspectives from our thought leaders and experts across the country.

AREAS OF EXPERTISE

Retirement Plan Services

IRS Issues Guidance on Student Loan Matching

Thirty percent of adults in the U.S. report having received a student loan to further their education. According to the Federal Reserve, the median student loan debt for those with outstanding balances in 2023 ranged between $20,000 and $25,000. To help ease this financial burden, employers are increasingly offering a match toward student loan repayments as an employee benefit to help alleviate the financial strain. This trend also highlights the increasing focus on addressing student debt within the framework of overall financial wellness initiatives.

October 14, 2024

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Retirement Plan Services

Helping Employees Avoid Retirement Healthcare Sticker Shock

Housing? Check. Life insurance? Check. Dining out? Check. For most retirees, these types of line items are fairly predictable and factored into their monthly budget. But when it comes to healthcare, the situation can change dramatically. These expenses are often unpredictable and underestimated — and this wild card can disrupt an otherwise carefully planned retirement, leaving many seniors vulnerable.

October 8, 2024

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Retirement Plan Services

Navigating Higher Fees and Opportunities for Smaller 401(k) Plans

Although the costs of retirement benefits have generally decreased due to fee compression, smaller plans are still at a disadvantage. Smaller plans pay more per participant due to fixed costs, while larger plans benefit from economies of scale even with greater total costs.

October 2, 2024

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Retirement Plan Services

The Arrival of TDFs with Annuities

Target Date Funds (TDFs) with annuities combine growth with guaranteed income, offering financial security for retirees. While challenges like portability and fees exist, this new approach is gaining traction among major retirement plan providers.

August 20, 2024

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Retirement Plan Services

Closing the Financial Wellness Engagement Gap

Despite widespread availability, financial wellness programs are underutilized by employees. Discover strategies plan sponsors can use to close this engagement gap by tailoring resources, addressing immediate financial needs, and boosting awareness through targeted communication and incentives.

August 14, 2024

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Retirement Plan Services

The Road to 15%: Helping Participants Navigate Toward Retirement Readiness

Reaching a 15% savings rate is key to retirement readiness, but timing is crucial. Learn how auto-enrollment, auto-escalation, and strategic plan design can help participants accelerate their savings and achieve their retirement goals more efficiently.

August 7, 2024

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Retirement Plan Services

The Magic Number Gap: Bridging the Divide Between Expectations and Reality

A troubling trend has emerged in the retirement planning space: The “magic number” — or amount of money Americans believe they need to retire comfortably — has surged to an all-time high, even as actual retirement savings have declined. This growing disparity or “magic number gap,” highlights a significant and escalating challenge for both participants and plan sponsors.

July 17, 2024

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Retirement Plan Services

Cybersecurity and How to Deal with Data Breaches as a Plan Sponsor

Retirement funds are a target for cybersecurity attacks and identity fraud more than ever before. For most people, their retirement account is one of their biggest assets and they rarely check it. This makes these accounts a prime target for cybercriminals. Data breaches with recordkeepers are common.

July 10, 2024

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Retirement Plan Services

When It Comes to 401(k) Beneficiaries, Where There’s a Will There Isn’t Necessarily a Way

Beneficiary designations are a critical yet often neglected aspect of retirement plans. Many participants mistakenly believe that their retirement plan assets will be distributed according to their will or trust. However, retirement accounts are governed by their own rules, meaning the named beneficiary on the account will typically inherit the funds, regardless of other estate planning documents.

July 2, 2024

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