Retirement

Private pension funds are not as fragile as state and municipal pensions because they have tighter regulatory rules that govern their accounting and contribution rate requirements, according to Equable Institute.

The IRS announced Wednesday it will increase 401(k) contribution limits to $23,000 (from $22,500 in 2023), a smaller increase than last year's record-breaking amount of $2,000, while limits for employees over 50 remains unchanged.

On Wednesday, the Federal Reserve left its benchmark interest rate unchanged – in the 5.25%-5.50% range – for the second meeting in a row.

The retirement planning landscape needs to adopt a "more personal" approach to help people "navigate the unexpected," like job losses, caregiving and other financial hardships, according to a new Goldman Sachs report.

The Labor Department proposed new rules on Tuesday that would ensure financial advisors make recommendations "in the saver's best interest" and not sell them lower-returning products in order to maximize their own fees.

Evaluating and designing a benefits package that packs a punch is a big lift that requires the involvement of an organization's top decision makers, who may want to assess employees' needs, preferences and expectations. .

Hourly workers – who are 56% of the workforce – are less confident they'll have a comfortable retirement compared to salaried workers, while 25% of all workers say their employer doesn't offer a retirement plan, says a new survey.

Despite nagging inflation, 401(k) plans saw record-highs in participation, deferral rates and the use of professionally managed allocations in 2022, according to Vanguard.