Defined Contribution

"Prolonged investigations" create "tremendous strain on retirement plan sponsors" and negatively impact retirement savers, wrote House Republicans in a letter sent to Acting Secretary of Labor Julie Su.

With federal student loan payments set to resume starting next week, more than one in five borrowers expect to reduce savings overall (29%), for emergencies (29%) and retirement (22%), according to a new poll.

With student loan payments resuming Oct. 1, many employers are stepping up to provide guidance and counselor tools or offer one-on-one financial coaching sessions – or even student loan matching for 401(k) plans.

There is a renewed focus on nonqualified retirement plans, which are not subject to ERISA rules and can include deferred-compensation plans, executive bonus plans and split-dollar life insurance plans, says a WTW report.

Retirement savings for Gen X is highly concentrated among top earners, however, the SECURE 2.0 provision for part-timers, which takes effect in 2024, could represent "meaningful change" for these workers, says a new report.

The labor market and consumer spending have remained resilient despite the rate hikes (the last one in July), but a resumption of student-loan payments next month will take discretionary spending power out of consumers' hands.