With 2025 underway, employers and their benefits teams are once again facing a laundry list of priorities to ensure that their employee benefits plans (EBPs) are well-maintained, and more importantly, that their plans meet regulatory expectations.
The new offering is designed to expand access to workplace retirement plans for small and medium-sized businesses to "pool" their assets into a single plan, while alleviating the administrative burdens of running a retirement plan.
About 70% of the 401(k) plan—nearly $2 billion—was invested in one fund, when "much cheaper" versions of this investment were available, allege employees in the class action lawsuit, on behalf of 38,000 participants.
Workers want benefits that have a real and substantial impact on their health and wellbeing, and family planning concerns continue to be a dominating factor.
Employers who don’t offer retirement planning advice should encourage their older employees, particularly those 60-63, to consult with accountants or tax preparers to benefit from the “super” catch-up contributions, recommends Firstrade.
The focus on comprehensive family wellbeing benefits is reshaping the workplace, offering employers a powerful tool to attract and retain top talent while mitigating rising health care costs.