Retirement Trends

The move by many states, like Oregon and California, to require auto-IRA retirement plans for private-sector workers has not discouraged employers from sponsoring their own retirement plan benefits, a Pew study has found.

The U.S. defined contribution system relies on new employers to create, on average, 44,000 plans per year to compensate for the more than 377,000 plans that closed from 2012 to 2021, according to a Morningstar report.

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.

The latest emergency decision to cancel $6 billion in student debt relief is unrelated to Biden's broader effort, which the high court is expected to rule on in June.

For households making $200,000 or more annually, 113,800 lost a job in the previous four weeks, which is six times larger than a year ago, according to the latest Census Bureau household pulse survey.