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Jack Towarnicky

Despite the growth in health savings account (HSA) usage, [1] most employees still miss out on America’s most valuable, tax-favored benefit. As of 2019, fewer than 11% of American adults have an HSA, with an average account value of less than $300. [2] We offer some “best practice” guidance on... READ MORE
The marketplace for investing health savings account (HSA) assets continues to evolve slowly, and the HSA investment experience tends to match the short-term nature of the objectives most employers have in adopting HSA-capable coverage.   The objectives most employees have in HSA participation... READ MORE
It’s not as though we haven’t been through tumultuous times before, but is this time different?   Just four months ago, we were reviewing 2019 401(k) investment performance where the S&P 500 index rose 28+%, the Dow Jones Industrial Average (DJIA) gained 22+% and the NASDAQ was up an even... READ MORE
The marketplace for investing Health Savings Account (HSA) assets continues to evolve.  Earlier this year, Devenir released a white paper on HSA investing.[i] Investment menu construction was part of the Plan Sponsor Council of America 2019 Health Savings Account survey.[ii] Some of those survey... READ MORE
Few read mandated fee disclosures; the disclosures may mislead more than they inform. In 2012, I analyzed the EBSA’s fee disclosure regulations. Here’s part of the abstract from my paper.  “Over the next 10 years, let’s increase the fees paid by individual account plans, like the 401(k), by... READ MORE
What’s the best solution where saving for retirement is not a priority? Meet workers where they are with the right kind of liquidity! Don’t agree? Well, what about the next best solution? You guessed it: help workers avoid the wrong kind of liquidity! No recent headline includes more hyperbole... READ MORE
Today’s typical histrionic, hyperbolic headline: “Retirement Crisis:  Workers Can’t Afford to Save for Retirement Due to Crippling Out-of--Pocket Medical Expenses and Crushing Student Debt!”1 The accurate rewrite: “Saving for Retirement Is Doable — Almost all Workers Have Low, Budget-able Out-of-... READ MORE