Defined Benefits

For 2023, 52% of plan sponsors say providing financial wellness tools will be a top priority, since nonprofits are placing a greater emphasis on financial education, says a new report.

This largest-ever rescue covers 350,000 workers and retirees of the Central States Pension Fund, one of the largest multi-employer pension plans in the nation that was projected to become insolvent in 2026 prior to the pandemic.

It's no easy task in a turbulent economy for plan sponsors to look ahead, with a new Congress taking power in January and not knowing if the current Congress will enact SECURE Act 2.0 in the post-election session next week.

Defined benefit retirement plans have successfully implemented real estate investments for almost 50 years and there is increase interest and adoption in DC plans, according to a J.P. Morgan study.

In some cases, plan sponsors are being told that their termination basis funding levels are significantly lower than they actually are, which could be a result of misinformation tied to outdated glide paths or lump sum pension payouts.

Employers should provide targeted communications to women, as well as access to independent financial counselors, decision support tools, and debt management services to help bridge the gap, says a new report.