Retirement

In a process known as negotiated rulemaking, 14 people chosen by the Biden administration will be meeting for a series of hearings to guide the Education Department toward a proposal on student loan relief.

Automatic enrollment helped 81% of plan participants start saving sooner for retirement and, significantly, 94% of participants stay in the plan once they have been automatically enrolled, according to a Principal survey.

Open enrollment is a great opportunity to help employees understand the full potential of health savings accounts, but the communications should be quite different for those new to the workforce than for those nearing retirement.

Citibank's Diverse Asset Manager Program has received approval from the DOL to offer guidance to other firms if they wish to pursue DEI initiatives while working with service providers in ERISA-compliant retirement plans.

Starting in January, the average monthly Social Security check for retired workers will go up $59 – a much smaller cost-of-living adjustment than last year's record 8.7% hike, reflecting a slowdown in inflation.

A House panel has scheduled a hearing next week to review the SSA's "overpayment" process, after it was revealed that the agency clawed back $4.7 billion in overpayments, while another $21.6 billion remains outstanding.