Retirement

A growing number of companies are implementing financial wellness initiatives, not just to help employees, but to meet investor demands.

"It's moments like these that give me hope," says Connecticut Treasurer Shawn Wooden, the only Black elected state treasurer in the U.S.

TIAA was also charged with a failure to adequately disclose conflicts of interest to participants in its record-kept employer retirement plans.

"This is the highest COLA I've ever estimated in my 26-plus years of researching the annual inflation adjustment," says an industry expert.

As employees shifted their financial plans to weather the pandemic, many are looking more closely at the benefits offered to them.

New competitors are coming into the market with low-cost 401(k) solutions for employers offering a retirement plan for the first time.