Defined Contribution

At a 3-day meeting, retirement experts encouraged the Council, which advises the DOL, to recommend that qualified default investment alternatives (QDIAs) become more prevalent in defined contribution plans.

SECURE 2.0 is creating new opportunities for plan sponsors and participants to realize the benefits of lifetime income solutions, as well as catch-up contributions to get an employee's retirement savings back on track.

Retirement planning advice is the first step toward improving retirement readiness, namely, how to invest, how much to save, when to retire and the role an annuity can play as part of a retirement plan, according to a TIAA report.

After a Senate committee requested feedback on ways to allow independent workers access to retirement plans, the American Benefits Council responded with a 5-point plan that includes access to pooled employer plans.

There's a disconnect between the role employers think they're playing in employees' financial well-being and how supported workers feel, which is why surveying them is key since demographics have a big impact, says research.

SDBAs, which allow participants to invest their retirement savings in stocks and bonds, mutual funds and other securities, showed the average account balance at $328,239 in Q1, says a new Schwab report.