Defined Contribution

Despite strong opposition from Democrats who voiced concerns over his relationship with DOGE officials prior to confirmation, the Fiserv CEO will become the 18th commissioner of the SSA.

On Friday, 26,000 bank employees and retirees reached a settlement with Pentegra over prohibited transactions in their class action lawsuit, just nine days after a rare jury trial awarded them $38,760,232 over excessive fees.

The ongoing battle over the use of environmental, social and governance factors when making investing decisions for retirement plans continues, as Representative Rick Allen reintroduces new anti-ESG legislation.

The Retirement Savings for Americans Act, which is supported by Charles Schwab and the National Economic Council, was reintroduced in the Senate by Sen. John Hickenlooper.

The retirement industry is at a pivotal moment – after a decade of strong growth fueled increased accessibility of defined contribution plans, the retirement industry now faces significant challenges as well as opportunities, according to McKinsey.

Around 3 in 10 workers believe having investment options that provide guaranteed lifetime income to be the most valuable improvement to their plan, according to EBRI’s annual survey.