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There are currently over 600,000 micro 401(k) plans in the U.S., with less than $5 million in assets, and that number will increase to more than 1 million, driven in part by state mandates and federal tax incentives, according to a new Cerulli report.

The number of people believed to be affected has nearly doubled from earlier estimates.

Lawmakers are responding to news that research agencies and disease trackers have gone on hiatus.

The ERISA Industry Committee, along with two other industry groups, is seeking the dismissal of the drugmaker’s PRT class action lawsuit over the transfer of its pension plan to Athene Annuity, alleging a breach of fiduciary duties.

Rep. Rick Crawford's 401(edu) plan proposal, family leave proposals and meal delivery came up at a House Ways and Means brainstorming session.

The banking giant has been hit with a class action lawsuit, alleging it used retirement plan contributions from departing employees to “offset its employer contributions” rather than reducing plan administrative fees, violating ERISA.

Tim Noel, who was most recently chief executive of UnitedHealth’s Medicare division, will become CEO of the UnitedHealthcare business, the company said in an emailed statement.

Participants contributed an average of 7.8% of pay (up from 7.4% in 2022), and employers contributed 4.9% of pay (up from 4.7%) for a combined savings rate of 12.7%, according to PSCA’s annual survey of 401(k) plans.