Expert Opinion

With SECURE 2.0 making the biggest changes to the retirement system in decades, a growing number of employers will be weighing the possibility of adding annuities – which come with a mix of considerations – to their 401(k) plans.

Since most employees do not want their employer to know how much debt they have, the following options are all arm's length alternatives that should not cross the line concerning employee confidentiality.

A defined contribution plan puts the employee in charge of planning for their own retirement, but getting the right people in front of employees can help win them over in taking full advantage of a company retirement plan.

As a benefits professional, you can compete for a request for proposal, but it's better if you can develop a 1:1 relationship, not compete solely on price.

Health care premiums have risen 114% in the last decade, and many experts say employers – who write the checks every month – are underutilizing their power to control health care costs.

Since there are disparate timelines for part-timers in SECURE 2.0 of 2022 and SECURE 1.0 of 2019, plan sponsors must make sure they have processes in place to keep track of those employees who will be impacted by the new law.

A handbook is of little value if it is not regularly updated - and reviewed by counsel - to comply with changes in the law or the ever-evolving, post-pandemic world and to set the tone for company culture.

SVB warned of "negative effects of a prolonged work-from-home arrangement" in its annual report, but other banks like Bank of America continue to be profitable while embracing remote work.