Over half of workers, especially older generations, would like to learn more about the federal government’s plan to make matching contributions to their retirement accounts, according to a Charles Schwab study.
A cap would hurt sicker and older indidividuals and hit some regions harder than others, according to a benefits professional-employer coalition organized by Neil Trautwein.
The Department of Labor’s Retirement Savings Lost and Found database, which is expected to go live next month, still needs help from plan administrators on participants who left the company.
A collaborative approach between benefits advisors, HR leaders, and the C-Suite is critical to developing strategies supporting workforce and business priorities.
While 401(k) plans have blossomed in popularity, the retirement savings crisis rages on. Here’s the path forward, from the employer and employee perspective, says Paychex’s Zach Keep.