Retirement Advisor

Next year, the new limits for health savings accounts and high-deductible health plans are a slight bump, following 2024's largest-ever increase to the amount employees can set aside in their accounts.

The Retirement Security Rule, finalized on April 23, is polarizing and is sure to face significant legal challenges (one lawsuit has already been filed), because the rule applies a new, heightened fiduciary duty to the insurance industry.

Younger workers are benefiting from auto enrollment by participating at higher rates than prior generations, while the Saver's Match program allows low-income workers to receive a match of up to $2,000 into their 401(k)s.

37% of parents saving for their kids' educational expenses anticipate the child's contribution to be between 1% and 25%.

Due to low unemployment and rising wages, Medicare's trust fund for hospital expenses will see its reserves depleted in 2036, and Social Security's funds will pay full benefits until 2035, according to a new report.

Republican-led states have joined 1 of 2 lawsuits challenging the administration's Saving on a Valuable Education plan, which takes effect on July 1, unless the courts grant an injunction to prevent SAVE from being implemented.

While 68% of workers and 74% of retirees are confident they will have enough money to live comfortably throughout retirement, this is not a significant increase from last year, according to a Employee Benefit Research Institute report.

The Biden administration is forgiving $6.1 billion in student debt for those who attended the now-closed Art Institutes colleges nationwide that allegedly lured students with "pervasive" lies, says the Education Department.