Defined Contribution

The Plan Sponsor Council of America has launched a handy and customizable "Building Your Financial Future" educational campaign to help employers and plan sponsors recognize 401(k) Day tomorrow, September 6.

More than half of Americans do not know how Social Security fits into their retirement plan, which is why employers should provide resources or have someone from a local SSA office come speak in person, according to Allianz Life.

The IRS's new fact sheet includes guidance for provisions on de minimis financial incentives, Roth SIMPLE and SEP IRAs and designated Roth matching contributions – and how these provisions impact how certain amounts are reported on their W-2s.

The IBM lawsuit caught the attention of Labor Department, which claims the three-year deadline to bring a fiduciary claim doesn't apply because workers didn't have "actual knowledge" of the ERISA violation.

It's an ideal time to focus on promoting financial literacy and helping employees understand the various long-term savings tools that may be available to them beyond a 401(k), such as an IRA, HSA, and FSA.

September 6, the Friday after Labor Day, is 401(k) Day, a time for employers to focus on financial wellness and empowering employees to take charge of their financial futures – and encouraging them to take advantage of employer matching contributions.