A Quote by Eugene Scalia
At the heart of Erisa is the requirement that plan fiduciaries act with an 'eye single' to funding the retirements of plan participants and beneficiaries. This means investment decisions must be based solely on whether they enhance retirement savings, regardless of the fiduciary's personal preferences.
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Workers are most likely to save for retirement if they have access to a workplace savings plan and are automatically enrolled in that plan.
The simple index fund solution has been adopted as a cornerstone of investment strategy for many of the nation's pension plans operated by our giant corporations and state and local governments. Indexing is also the predominant strategy for the largest of them all, the retirement plan for federal government employees, the Federal Thrift Savings Plan (TSP). The plan has been a remarkable success, and now holds some $173 billion of assets for the benefit of our public servants and members of armed services.
Social Security is an insurance policy. It's a terrible investment vehicle. Social Security has some great benefits. But it was never meant to be a savings plan. So we need to have a national debate. Should this 12.5 percent that we're contributing all go into a Social Security pool, or should half go into a mandatory savings plan?
ESG investing poses particular concerns under the Employee Retirement Income Security Act, or Erisa, the federal law governing private retirement plans.
Its success lies in the fact that it's an insurance plan, not an investment plan or a welfare plan.
When employees are first eligible for a retirement savings plan, they should be enrolled unless they choose to opt out.
Here in Indiana, we run a nationally-recognized program called the Healthy Indiana Plan. The Healthy Indiana Plan offers the uninsured an affordable health care plan with savings accounts that they control.
Working for company X and having a substantial portion of your retirement plan in company X is simply exposing yourself to too much risk, because the company is both your employer and the source of your retirement income. So if something goes wrong, you lose both your job and your retirement plan.
Always have a plan and believe in it. I tell my coaches not to compromise. Nothing good happens by accident. There must be a plan for everything and the plan will prevent you from overlooking little things. By having that plan, you'll be secure and self-doubts will never become a factor.
Plan your hours to be productive...Plan your weeks to be educational...Plan your years to be purposeful. Plan your life to be an experience of growth. Plan to change. Plan to grow.
My financial adviser Ric Edelman...thinks the time to start educating people about money is when they are children. He's set up a retirement plan called the RIC-E-Trust that can provide retirement security. A $5,000 one-time tax-deferred investment at birth, with an average interest rate of ten percent compounded, means that a child would have $2.4 million when he or she is 65 years old. Who needs Social Security with that kind of nest egg?
The trouble with many plans is that they are based on the way things are now. To be successful, your personal plan must focus on what you want, not what you have.
We are to make a plan for the day, pray over that plan, and then proceed with that plan. When we are willing to regard the unexpected as God's intervention, we can flex with the new plan, recognizing it as God's plan.
I was in a form of a prison: not necessarily with bars, but I was locked to that machine three days a week, and I couldn't plan work, I couldn't plan vacations, I couldn't plan dinner, I couldn't plan homework, I couldn't plan nothing because at the end of the day, Monday, Wednesday and Friday, I had to be at dialysis.
If employed by employee stock ownership plan companies, working Americans can spend less time worrying about job security and retirement savings and enjoy a clearer path to prosperity.
The President has no real plan to address the fiscal challenges arising from the retirement of the baby boom generation, let alone a plan to fix Social Security.
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