The Department of Labor’s ESG rule that permits environment, social and governance factors to be considered when selecting investments took effect in 2023, but was quickly challenged in court by 25 GOP-led state attorneys general.
For employees, portable plans mean they own their retirement savings from day one, eliminating the need for complex rollovers when changing jobs. For employers, these plans remove the administrative burden and high costs.
Nearly half of workers eligible for state-run retirement savings programs can't be verified, under anti-money laundering requirements of the 2001 USA Patriot Act, reports the Bipartisan Policy Center.
More than 3 in 5 employees say they would consider leaving their current job for one with more robust benefits, even if it meant taking lower compensation.