Defined Contribution

The Federation of Americans for Consumer Choice's lawsuit states that the Department of Labor's new "rushed" fiduciary rule is similar to a proposal struck down by the federal appeals court a decade ago.

Informing workers about retirement savings options and encouraging the use of retirement advisors can go a long way toward helping employees be in a better financial position for retirement, according to a new survey.

Despite an uncertain economic environment, retirement plan participant outcomes thrived in 2023, bolstered by strong growth in employee contributions, according to a preview of Vanguard's annual "How America Saves" report.

Employers can help employees save by automating and incentivizing emergency savings, but it's key to customize messaging that is unique to a specific employee demographic to increase the likelihood of them taking action.

The new Saver's Match program launches in 2027, as a provision of SECURE 2.0, and allows low-income employees to receive a 50% federal matching contribution of up to $1,000, in addition to any employer match.

Against this retirement planning backdrop, however, employees are saving less for retirement, with the average amount now saved at $88,400 - a decrease of $10,000 from 2021, according to a Northwestern Mutual study.

Women report feeling knowledgeable about day-to-day finances such as paying bills and saving for emergencies, but less confident about building wealth and creating investment portfolios, a New York Life Wealth Watch survey found.

The financial stress your employees bring to the office has an impact on their effectiveness, but supporting them in their retirement planning can help improve their peace of mind and, subsequently, your company's overall success.