Defined Contribution

The new retirement bill, aimed at expanding retirement coverage for workers not covered by an employer plan, would likely lead to worse retirement outcomes for most Gen Z and millennial workers, according to the Morningstar Center for Retirement's new research.

On Thursday, just days after Donald Trump was elected President, Federal Reserve Chair Jerome Powell announced interest rate cuts by a quarter of a percentage point – to a range of 4.5% to 4.75%.

Managers might bring up financial tools during one-on-ones to help create an open culture that makes employees feel comfortable to ask questions if a financial crisis comes up.

Employers need to create an environment that can foster employee loyalty, reduce turnover, enhance overall productivity and help employees be able to reallocate funds to retirement savings, according to a Voya survey.

Retirement plans were a hot button issue for union workers, who wanted Boeing to bring back their lost pension plans, however, Boeing said they were "prohibitively expensive."

While companies like Boeing and 3M are phasing out their pension plans, more and more employees see the pension as a way to restore the American Dream of retirement, according to the National Institute on Retirement Security.