Research

These disruptors appear to have the retirement industry "on the cusp of a major transformation that hasn't been seen since the introduction of the 401(k) in 1978," according to a new report from Principal.

A higher employer 401(k) matching rate corresponded with a greater likelihood for employees to cash out of retirement plans when switching jobs, according to a new survey.

Against the backdrop of a second financial blow to those already struggling to recover from the impact COVID-19 had on their finances, stress levels are on the rise - and employers can offer support in a number of ways, says a survey.

Although fees fell for all employer-sponsored retirement plans, small plans (with 50 participants and $5 million in assets) still pay higher fees, according to a book that analyzes 401(k) fees.

Millennials expect they'll need $1.3 million for a comfortable retirement but only 29% will reach that, while older workers say they'll need $1.1 million, though only 21% expect to reach it.

The average cost of medical coverage (regardless of plan type) is $5,330 for single coverage and $13,998 for family coverage, with employers contributing 72% toward the cost of single coverage and 70% for family coverage, says a new report.

Since more than half of employees said they haven't received financial advice for investing or retirement, resources like employee assistance programs and financial well-being programs have never been more important, says a new survey.

Employees often do not know the range of resources available to them in their benefits packages, and are often unaware of counseling included in the company's employee assistance program, according to a TELUS survey.