A new Investment Company Institute national ad campaign attempts to mobilize 120 million Americans “to protect retirement savings” by urging Congress to extend the 2017 Tax Cuts and Jobs Act, set to expire at the end of 2025.
Given the significant impact of financial stress on both personal wellbeing and organizational productivity, it is imperative for employers to rethink and redesign financial wellness programs to be more personalized, engaging, and effective.
While companies like Boeing and 3M are phasing out their pension plans, more and more employees see the pension as a way to restore the American Dream of retirement, according to the National Institute on Retirement Security.
Leading retirement experts give their perspectives on raising awareness about the importance of planning, saving and ensuring a stream of guaranteed lifetime income for retirement in a new TIAA report.
When asked what solutions would increase their confidence in their retirement plans, workers' top response was an in-plan protected retirement solution, says Cathy Marasco at Nationwide, which published a new Protected Retirement survey.
The DOL's new Retirement Security Rule, which had been set to become effective Sept. 23, will remain on hold as appeals will be heard by the 5th Circuit, which blocked the previous Obama-era fiduciary rule.
By prioritizing employee needs, focusing on cost-effectiveness, and taking proactive steps during open enrollment, SMBs can capitalize on the trend of employee loyalty.
Just like auto enrollment and the default selection of target-date funds, the adoption of auto portability was given a push by SECURE 2.0 and the upcoming Saver's Match Program will allow low-income workers to save even more for retirement.