Retirement

The financial services firm failed to detect “hundreds” of instances when former employees misappropriated client funds because it did not have a reasonable system in place, said the Securities and Exchange Commission.

Lawmakers are already thinking through new ways to further increase access to retirement savings and coverage with another retirement bill, while there’s a high probability that President-elect Trump will extend the 2017 Tax Cuts and Jobs Act, benefiting retirement savings. 

The late CEO Brian Thompson, along with two other UnitedHealth Group executives, were accused of dumping stock prior to a Department of Justice antitrust investigation into the company.

Since some 401(k) plans now offer the option to invest in crypto assets like bitcoin and the DOL has not required fiduciaries to monitor all crypto options, the Government Accountability investigated in response to a request from the House Committee on Ways and Means. 

Gen Z and millennials are particularly susceptible to social media financial advice, which is why employers should host financial literacy workshops, webinars, or provide regular communications that raise awareness about the risks of unverified financial advice.

RetireReady NJ launched a pilot program in spring 2024 with four participating employers, and now it supports thousands of New Jersey employees in saving for retirement.