The online retailer has been hit with a class action lawsuit, alleging it violated its ERISA fiduciary duties by using forfeited 401(k) funds to offset the company's own contributions instead of reducing administrative fees for over 20,000 participants.
Employers with five or more employees who do not currently offer a retirement plan will be required to register for the state-run Vermont Saves program by the end of February 2025.
Last week, Congress passed the Social Security Fairness Act, a bill that has been decades in the making, and President Biden will sign it into law on Monday.
Will new laws increase access to retirement savings and coverage, and will President Trump’s tax cuts incentivize investment in 2025? We asked retirement insiders to weigh in.
While they value financial independence, younger generations are drawn to high-risk investments, such as cryptocurrency, in pursuit of quick returns rather than long-term savings.
Expect a growing wave of innovation and adoption of in-plan retirement income solutions for 401(k) plans, reflecting the increased interest of plan sponsors, providers and participants, according to the Institutional Retirement Income Council.
Many 401(k) plan sponsors are overwhelmed by these legislative changes and the responsibility to implement new plan options, which is why some degree of outsourcing is recommended, according to Mercer.