The Saver's Match program offers a 50% federal match on the first $2,000 of retirement savings for low-income workers, but the industry needs to educate employees how to take advantage of the program, says a new report.
Asset manager BlackRock has launched LifePath Paycheck, which gives employees access to guaranteed income through a target date fund, allowing DC plans to switch some of an enrollee's investments into an annuity at age 55.
The $2,500 Pension-Linked Emergency Savings Account option takes a small amount from paychecks (3%) and is easy to set up, said Commonwealth, which took a close look at new emergency savings options in SECURE 2.0.
The BIOSECURE Act seeks to sever ties with some Chinese biotech players, however, these firms are heavily embedded in the U.S. pharmaceutical industry, which is already struggling with widespread drug shortages.
The study found that nearly three-quarters (71%) of companies do not provide internal communication staff guidance on when, where, or how to use the technology.
Employees are much more interested in discussing mental health and finding help with their issues, which is why the No. #1 mental health benefit strategy of employers is manager training, says the Midwest Business Group on Health.
Informing workers about retirement savings options and encouraging the use of retirement advisors can go a long way toward helping employees be in a better financial position for retirement, according to a new survey.
People of color are contributing to retirement accounts at lower rates and are more likely to take early withdrawals, which is why employers need to explore how best to reach these employees, says a new study.