Defined Contribution

Only workers nearing retirement should consider making changes to their retirement savings plan – and employers should help, suggests report.

With 60% of US workers stressed about their finances, they're increasingly looking to employers to roll out more resources to help with not only retirement savings but their overall financial well-being.

According to a new survey, 76% of people do not know that ESG stands for environmental, social and governance, however, 54% were extremely worried about climate change.

You can increase participation rates, savings, and good investment choices simply by sitting down with employees individually and giving them a two-slide overview of how the plan works.

This latest notice, which gives employers until the end of 2025 to make most changes to their 401(k)s, impacts provisions of CARES and Relief Acts that were not addressed by previous deadline extensions.

The retirement plan allows small business owners to maximize their contributions while sailing safely through annual IRS-mandated compliance tests.