Retirement

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.

Employers need more frequent and continuous benefits education throughout the year, and not just during open enrollment.

The American Council of Life Insurers and others are seeking to overturn the fiduciary rule finalized last month because it "undermines the expertise of state authorities who are responsible for overseeing annuities."

The Labor Department is amending the Abandoned Plan Program, originally adopted in 2006, so trustees can distribute assets from bankrupt companies' retirement plans to workers and retirees, starting July 16, 2024.