Retirement

Corporate pensions are in better shape than they have been in years, according to Russell's 2023 Prudent Pension Funding Report that analyzed 500 U.S. pension plans.

During a recent EBRI-Milken Institute 2024 Retirement Symposium panel, a group of industry thought leaders discussed financial wellness and what it means employers and advisors.

TIAA Institute's new State of Financial Preparedness report raises questions about whether or not incoming retirees will enjoy financial security, particularly as lifespans continue to lengthen and the economy remains tumultuous.

Employees are demanding a wider range of benefits and changes that fit new ways of thinking about work and benefits, including more flexibility around remote work and expanded choices in their benefit plans.

Employers can support lower-income employees by extending eligibility to part-timers, collaborating with their plan providers on educational campaigns, and raising awareness of the Saver's Credit, says a Transamerica report.

Starting on January 1, 2024, employers of any size can offer a student loan matching benefit within their company 401(k) or SIMPLE IRA plan, enabling employees to build their retirement savings while making student loan payments.