Defined Contribution

In a letter to House Ranking Member Richard Neal, over 20 companies and industry trade associations expressed support for the Automatic IRA Act of 2024, which will provide more access to retirement plans for small businesses.

The new law bolsters small businesses' ability to provide retirement benefits to their employees by offering tax credits to offset costs, however, for advisors, it's an unprecedented opportunity to tap into a new revenue stream.

Small businesses often work with professional employer organizations for certain HR functions, and when they're involved in an M&A transaction, the parties will need to work through a variety of issues.

One in four retired Americans have regrets about their decisions regarding retirement savings, and employers should listen and make sure employees understand retirement planning, no matter their age, says a new survey.

"The broad-reaching new fiduciary rule regulates retirement accounts far beyond employer-sponsored benefits," said subcommittee Chairman Rep. Bob Good, R-Va., but proponents said the old rules no longer protect investors.

Student loan borrowers making payments have significantly lower 401(k) contribution rates, however, some of the impact of the payments was lessened by auto-enrollment or employer contribution match, says a new report.

Brokers can benefit from a new lead generation tool developed by Judy Diamond Associates for small employers, while wellbeing provider Grokker is offering a new "live session" mental health solution for employees.

With steep inflation affecting retirement goals, employers can play a pivotal role in reducing employees' financial stress by enhancing their offerings beyond the traditional 401(k) with emergency savings accounts, says a new report.