Retirement Trends

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.

"Shiny" new perks might cause employers to overlook what's right in front of them and underestimate the importance of retirement benefits—a mistake that could end up costing them talent, says a new Guideline survey.

The Plan Sponsor Council of America has launched a handy and customizable "Building Your Financial Future" educational campaign to help employers and plan sponsors recognize 401(k) Day tomorrow, September 6.

Alex Mumblat, Managing Director at CSG Partners, believes ESOPs can appeal to prospective talent and help companies retain current staff.

It's an ideal time to focus on promoting financial literacy and helping employees understand the various long-term savings tools that may be available to them beyond a 401(k), such as an IRA, HSA, and FSA.

September 6, the Friday after Labor Day, is 401(k) Day, a time for employers to focus on financial wellness and empowering employees to take charge of their financial futures – and encouraging them to take advantage of employer matching contributions.