On Tuesday, the Department of Labor finalized its Retirement Security Rule that updates the definition of an investment advice fiduciary, while critics say millions could now lose access to professional financial guidance.
While the DOL continues to try to refine its fiduciary rule, with the latest iteration sent to the Office of Management and Budget for review last month, there are several best practices that protect plan sponsors as well as participants.
Two-thirds of Americans said the pandemic has had an even deeper impact on retirement beyond dollars and cents, with younger generations saving an even higher percentage of their income for retirement, according to Fidelity.
The Insured Retirement Institute released its 2024 Federal Retirement Security Blueprint, urging Congress to enact changes within retirement legislation and the DOL to withdraw its proposed fiduciary rule.
With new provisions in SECURE 2.0 taking effect in 2024, employers have new options they can leverage to engage with employees who want more workplace benefits, such as student loan matching and emergency savings.
In a report that highlights generational differences, baby boomers had the highest SDBA balances, followed by Gen X and millennials, but all need practical education from plan sponsors to provide their individual desired outcomes.
Target date funds are becoming a crowded space in the marketplace and managers are looking for ways to differentiate their products through personalization and retirement income, says a Mercer report.
Under a SECURE 2.0 provision that just went into effect in January, qualified student loan repayments may now count as elective deferrals for 401(k) matching contributions from employers.
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{
"uri": "/2024/04/24/dols-fiduciary-rule-is-now-final-but-critics-wonder-is-it-in-savers-best-interests/",
"title": "DOL's fiduciary rule is now final, but critics say, 'Is it in savers' best interests?'",
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"summary": "On Tuesday, the Department of Labor finalized its Retirement Security Rule that updates the definition of an investment advice fiduciary, while critics say millions could now lose access to professional financial guidance.",
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"uri": "/2024/04/09/401k-plan-best-practices-a-plan-sponsors-2024-fiduciary-checklist/",
"title": "401(k) plan best practices: A plan sponsor's 2024 fiduciary checklist",
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{
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"summary": "2024 BenefitsPRO Advisor of the Year finalist Chris Wolpert is passionate about using creativity to educate and create change.",
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"summary": "Two-thirds of Americans said the pandemic has had an even deeper impact on retirement beyond dollars and cents, with younger generations saving an even higher percentage of their income for retirement, according to Fidelity.",
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{
"uri": "/2024/04/02/retirement-trade-group-urges-feds-to-withdraw-dol-fiduciary-rule-pass-33-proposals/",
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"summary": "The Insured Retirement Institute released its 2024 Federal Retirement Security Blueprint, urging Congress to enact changes within retirement legislation and the DOL to withdraw its proposed fiduciary rule.",
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"uri": "/2024/04/01/2024-advisor-of-the-year-finalist-rosario-avila/",
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"uri": "/2024/03/27/secure-2-0-a-golden-opportunity-for-employers-to-better-employee-benefits/",
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"summary": "In a report that highlights generational differences, baby boomers had the highest SDBA balances, followed by Gen X and millennials, but all need practical education from plan sponsors to provide their individual desired outcomes.",
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"uri": "/2024/03/18/plan-sponsor-priorities-for-2024-top-401k-areas-of-focus-to-match-participant-needs/",
"title": "Plan sponsor priorities for 2024: Top 401(k) areas of focus to match participant needs",
"byline": "Kristen Beckman",
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"summary": "Target date funds are becoming a crowded space in the marketplace and managers are looking for ways to differentiate their products through personalization and retirement income, says a Mercer report.",
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