Defined Contribution

Many firms have some misconceptions about the costs of offering and administering a retirement plan and were not aware that they can claim a tax credit of up to $5,000 for 3 years to help offset the start-up costs, says a new study.

Since employees generally go along with most retirement plan provisions, adding plan design features, such as auto-enrollment and auto-increase, are some of the fastest ways to help boost participation rates, says a new survey.

The wealth management firm breached its fiduciary duties because of the "systematic efforts on TIAA's part to drive members from their ERISA plans and into TIAA-sponsored offerings," ruled a New York District Court Judge.

In a year when more Americans than ever are turning 65, employees aged 55-65 are feeling more apprehensive about retirement than in previous years, according to Nationwide survey.

The ERISA Industry Committee seeks clarity, on behalf of their employer members, on implementing key provisions in SECURE 2.0, including matching student loan contributions, auto-enrollment and 401(k)s for long-term, part-timers.

A group of Republican lawmakers urged the Education Department in a letter to nix its grand-scale bailout, which would provide even greater student debt relief than an earlier attempt struck down by the Supreme Court.