Defined Contribution

At the intersection of National Retirement Security Week and the Major League baseball playoffs, a new T. Rowe Price survey highlights the retirement attitudes and behaviors of American sports fans.

This week (Oct. 20-26) provides a great reminder that it will take a shared responsibility across government, employers, and employees to enable tomorrow's retirees to live a better life, longer, says Prudential's Ann Nanda.

Since President Biden's signature SAVE program is tied up in federal courts, he has issued a pause on student loan repayments for those already enrolled in the program.

Small employers are more likely to keep balances in plans indefinitely, while larger employers are more likely to roll money over to an IRA, according to a Plan Sponsor Council of America survey.

In August, the IRS provided student loan match guidance, however, the ERISA Industry Committee requests "reasonable procedures" plan sponsors can establish for employees to claim the match.

Three weeks before the election, Pres. Biden's latest debt relief effort brings his total loan forgiveness to over $175 billion for more than 4.8 million Americans, as his massive SAVE student loan program remains tied up in courts.