Retirement

The U.S. defined contribution system relies on new employers to create, on average, 44,000 plans per year to compensate for the more than 377,000 plans that closed from 2012 to 2021, according to a Morningstar report.

Promoting financial wellness is essential for employees of all ages, but especially for Gen Zers, who are on track to become the most economically influential generation - and mobile learning tools can help.

Most Gen Xers (80%) wish they started saving earlier for retirement, while 67% started saving after age 30 and even more (20%) have never saved for retirement, according to a new survey.

At the committee level, there is a lot of bipartisan activity for health care reform for 2023 that includes PBM reforms and insulin caps in the commercial market, as well as regulatory guidance on the new retirement bill SECURE 2.0.

Only 2.5% of DC plan participants stopped contributing to their plans last year, indicating disciplined savings habits through stretches of inflation, market volatility and lingering concerns of a recession, according to a new study.

The auto-enrollment and auto-escalation provisions within the new legislation could be perhaps the biggest catalyst for helping American workers accumulate wealth, according to a new report.