Defined Contribution

T. Rowe has launched a 5-dimensional (5-D) framework to offer plan sponsors a standard language to understand how different income solutions require participant tradeoffs to meet individual objectives.

The Department of Labor has responded to one of two court challenges to its soon-to-be-effective fiduciary rule that updates the definition of a fiduciary by arguing that the new rule is lawful and will protect investors,

DFAs can be part of the retirement income solution, since they give workers the power to choose whether to convert some or all of the savings to income benefits.

With 90-plus provisions, SECURE 2.0 is a complex piece of legislation, and there is still some confusion among plan sponsors about tax credits to cover administrative costs, as well as which provisions are optional or mandatory.

The ERISA Industry Committee wants the DOL to scale down what it calls "excessive amounts" of participant information for its SECURE 2.0-mandated Retirement Savings Lost and Found database to be launched in 2024.

Working longer is one of the most powerful tools to improve retirement security, however, employers need to help employees deal with emergency funding needs outside of reducing their retirement savings, says a new report.