Retirement

Workers' emergency funds are being depleted, prompting them to prematurely tap into their retirement savings, as employee financial wellness has continued to trend downward, leading to increased instability, says a new report.

Retirement plan design is moving away from a one-size-fits-all environment to emphasize individuals' unique needs and improve participant access, however, employers must be sure not to confuse participants with too many options.

Employers are not "responsible for providing for my retirement," say employees, and only 1 in 4 is comfortable leaving money in former employer plans, however, they are more open to employer involvement, says a new report.

If small businesses are going to win the talent retention battle in 2024, they may want to offer a retirement benefit that streamlines two of the most significant barriers to offering a plan: cost and ease of administration.

Women are more confident than men about their jobs, but also more worried about the economy and their own financial wellbeing.

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.

No question the new Pension-Linked Emergency Savings Account is a much-needed option for employees, however, employers and plan sponsors must be vigilant in protecting themselves as they navigate potential pitfalls.

The pending legislation will have little effect on employers' processes, but it's a good reminder about the importance of educating employees about the impacts that life changes, like divorce, may have on their benefits.