Defined Contribution

Following the collapse of First Republic Bank earlier this week, the Federal Reserve is expected to deliver its 10th - and final - rate hike for a while today, bringing the rate to a range of 5% to 5.25%, the highest since 2007.

Promoting financial wellness is essential for employees of all ages, but especially for Gen Zers, who are on track to become the most economically influential generation - and mobile learning tools can help.

Most Gen Xers (80%) wish they started saving earlier for retirement, while 67% started saving after age 30 and even more (20%) have never saved for retirement, according to a new survey.

At the committee level, there is a lot of bipartisan activity for health care reform for 2023 that includes PBM reforms and insulin caps in the commercial market, as well as regulatory guidance on the new retirement bill SECURE 2.0.

Many of these are frontline workers who helped sustain communities during the pandemic – and nearly two out of three say employers have a responsibility to help them improve their financial well-being, says a new survey.

Only 2.5% of DC plan participants stopped contributing to their plans last year, indicating disciplined savings habits through stretches of inflation, market volatility and lingering concerns of a recession, according to a new study.

The auto-enrollment and auto-escalation provisions within the new legislation could be perhaps the biggest catalyst for helping American workers accumulate wealth, according to a new report.

Employers often cite wanting to help older workers close to the end of their working years as a main reason for offering in-plan benefits, while enhancing negotiating power with recordkeepers is another reason, says a survey.