Retirement Advisor

A new study from J.D. Power reveals the importance of customer satisfaction with the digital experience.

With federal student loan payments set to resume starting next week, more than one in five borrowers expect to reduce savings overall (29%), for emergencies (29%) and retirement (22%), according to a new poll.

With student loan payments resuming Oct. 1, many employers are stepping up to provide guidance and counselor tools or offer one-on-one financial coaching sessions – or even student loan matching for 401(k) plans.

There is a renewed focus on nonqualified retirement plans, which are not subject to ERISA rules and can include deferred-compensation plans, executive bonus plans and split-dollar life insurance plans, says a WTW report.

Retirement savings for Gen X is highly concentrated among top earners, however, the SECURE 2.0 provision for part-timers, which takes effect in 2024, could represent "meaningful change" for these workers, says a new report.

The labor market and consumer spending have remained resilient despite the rate hikes (the last one in July), but a resumption of student-loan payments next month will take discretionary spending power out of consumers' hands.

Since 63% of employees would be unable to cover a $500 emergency, employer-sponsored emergency savings accounts are now the number one benefit that employers need to offer, recommends a new study.

Employee Fiduciary, a small business retirement plan advisory, called on the DOL to make fees more transparent for plan participants, in response to a feedback request on its new SECURE 2.0 Reporting and Disclosure requirements.