Defined Contribution

Callahan Financial, Richard Bernstein and other registered investment advisors made untrue or unsubstantiated claims or lacked required disclosures, according to the Securities and Exchange Commission.

Employers should consider the following 2024 updates to SECURE 2.0; the benefits will serve as a clear differentiator within an increasingly competitive and uncertain economy.

It's essential to connect the program to wider business initiatives (end of the year or open enrollment) and Include messages of support from the CEO to demonstrate the program's importance, recommends financial wellbeing provider nudge.

Four million Americans will be turning 65 every year for the next four years, which is why employers need to communicate the in-service distribution option to employees, says Joseph Roop, president, Belmont Capital Advisors.

The Internal Revenue Service and the Department of the Treasury are requesting comments on this new SECURE 2.0 provision, which takes effect in 2027, that will provide low-income employees with an annual $1,000 match.

While the second half of the year typically means Open Enrollment for most companies, it's the perfect time to highlight the benefits of saving and investing in the company's retirement plan as workers are reviewing all their other benefits.

Just like auto enrollment and the default selection of target-date funds, the adoption of auto portability was given a push by SECURE 2.0 and the upcoming Saver's Match Program will allow low-income workers to save even more for retirement.

There are myriad ways to advise clients to increase awareness of their company retirement plan – send out educational emails, newsletters or videos, says Chuck Smith of Prime Capital Retirement.