Defined Contribution

For low- and moderate-income workers, access to emergency savings accounts is likely to boost retirement contributions, according to a new Commonwealth report.

Issuing a new fiduciary rule is a "huge priority," as well as guidance on SECURE 2.0 and the ESG rule, said Lisa Gomez, assistant secretary of Labor for the Employee Benefits Security Administration, at a Spring Policy Forum.

In the defined contribution market, the first quarter of 2023 saw an spike in lawsuits and a drop in retirement confidence, however, Congress' main priority now is SECURE 2.0 implementation, according to Mercer.

Many employers with less than 50 employees are turning to Qualified Small Employer Health Reimbursement Arrangements to offer meaningful health and wellness benefits.

The cuts in savings mirror a larger financial challenge, with 30% of Americans finding it difficult to make ends meet and 39% lacking nonretirement savings sufficient to cover one month of living expenses, says a new study.

The confidence both workers and retirees have in their ability to finance their retirements dropped significantly in 2023, as inflation erodes the confidence that Americans had going into the pandemic, says a new survey.