Defined Contribution

Americans believe they'll need $1.2 million saved to retire comfortably, yet half expect to have less than $500,000 saved, which is why employers should consider offering more in-plan solutions to help employees transition to retirement, says a new Schroders survey.

The massive Saving on a Valuable Education student loan plan will remain on hold, after President Biden had asked the high court to bypass lawsuit challenges that are making their way through the lower courts.

Recently, numerous class action 401(k) lawsuits have been filed by participants over misuse of forfeited assets from former employees, including Bank of America, Wells Fargo and Nordstrom.

In July, a judge put the Department of Labor's new Retirement Security Rule, which was set to go into effect September 23, on hold, where it seems likely to remain until after the presidential election.

The program includes an HSA, a retiree HRA and an educational assistance program, as well as a 401(k) plan.

Many familiar budgeting and planning goals can be easily integrated into lessons in financial wellness and managing personal finances for employees.