Defined Contribution

The proposed class action ERISA lawsuit centers on two poorly performing funds offered by the $9 billion 401(k) plan covering more than 27,000 current and former employees of the giant telecommunications equipment maker.

Rollovers should be "a built-in process" during employee onboarding and offboarding, because "forgotten 401(k)s are one of the biggest risks to long-term retirement savings," according to Betterment at Work's Mindy Yu.

The 5ForLife Balanced Fund, in collaboration with Income America, is designed to provide participants in MissionSquare's 9,200 employer plans with lifetime income, beginning at age 65.

Last week, the IRS issued guidance on withholding and reporting issues related to uncashed retirement plan distribution checks and replacement checks.

On Friday, President Donald Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which establishes federal guardrails for digital assets pegged to the U.S. dollar, lessening restrictions for crypto to be included in 401(k) plans.

Senator Bernie Sanders' Pensions for All Act would require employers to provide a traditional pension plan for their workers or pay into the federal retirement system to ensure they receive the same amount of retirement benefits as members of Congress.