Retirement Advisor

DFAs can be part of the retirement income solution, since they give workers the power to choose whether to convert some or all of the savings to income benefits.

With 90-plus provisions, SECURE 2.0 is a complex piece of legislation, and there is still some confusion among plan sponsors about tax credits to cover administrative costs, as well as which provisions are optional or mandatory.

The ERISA Industry Committee wants the DOL to scale down what it calls "excessive amounts" of participant information for its SECURE 2.0-mandated Retirement Savings Lost and Found database to be launched in 2024.

Working longer is one of the most powerful tools to improve retirement security, however, employers need to help employees deal with emergency funding needs outside of reducing their retirement savings, says a new report.

There's a shifting landscape of retirement savings creating more inclusivity, such as state auto-IRAs and 401(k)-linked emergency savings, but 57 million workers still don't have access to a workplace retirement plan, say experts.

Despite 47% of employees feeling financially well, there is still lingering concern over inflation, which is why employers need to implement retirement education programs and offer online financial tools, says a new report.

The passage of SECURE 2.0 and the persistently high interest rates have generated increased focus on a new TDF that combines asset accumulation with an annuity that provides guaranteed lifetime income, according to Vanguard.

More than 485,000 accounts had seven-figure balances at the end of the first quarter, a 15% increase from the end of 2023, according to Fidelity, which is the largest 401(k) platform in the country.