Retirement

In a year when more Americans than ever are turning 65, employees aged 55-65 are feeling more apprehensive about retirement than in previous years, according to Nationwide survey.

The ERISA Industry Committee seeks clarity, on behalf of their employer members, on implementing key provisions in SECURE 2.0, including matching student loan contributions, auto-enrollment and 401(k)s for long-term, part-timers.

The contruction firm is being sued over the fees retirement plan participants paid after being defaulted into managed accounts, which were "essentially expensive target-date funds," according to the ERISA lawsuit

Retirees may prefer a Non-Guaranteed Retirement Income Payout over guaranteed income options due to flexibility and lower costs, according to the Institutional Retirement Income Council.

Employers can "match" contributions for student loan payments to 401(k)s or offer auto-enrollment in an emergency savings account for participants, who could make contributions up to $2,500.

Since 2012, every state except Alabama has either enacted or introduced legislation that would establish state-facilitated retirement savings programs, and 10 states already have fully operating auto-IRAs.