Defined Contribution

In the past two years - perhaps due to the Great Resignation - there's been a 20% increase in left-behind assets in retirement plans when employees switch jobs, according to a new report.

Most employees expect to work longer, indicating they plan to retire at age 65 (up from 64 in 2022), and need to save more than they did a year ago, according to Northwestern Mutual.

While most states are beginning to offer hybrid DB/DC plans, Alaska has chosen to move future hires into defined benefit retirement plans.

As a manager or owner, you need to set an example for others to follow by explaining how you take advantage of company benefits - at staff meetings, quarterly company gatherings or even just conversations over coffee.

While health care costs are unchanged year over year, employers need to help pre-retirees save for health care expenses by considering options like a tax-advantaged health savings account, recommends Fidelity.

The Federal Reserve resumed raising interest rates for the 11th time on Wednesday at a range of 5.25 to 5.5% in its campaign to curb inflation, although it is no longer forecasting a recession in 2023.