Defined Contribution

A new financial wellness partnership aims to address the "soaring rates of financial stress among employees of color" with financial technology tools, culturally relevant content and financial coaching and therapy.

When employees receive ongoing financial coaching, most can make dramatic improvements to their finances, which is why financial wellness programs are one of the fastest-growing employee benefits, says a new survey.

As financial wellness programs are becoming even more sought-after, employers can play a vital role by connecting employees with resources to help them navigate each step of their financial journeys, says a Morgan Stanley study.

The software provider was accused of mismanaging its profit-sharing 401(k) plan and failing to fulfill its fiduciary duties by diversifying the plan's assets, which resulted in significant losses, according to the Labor Department.

Consumers brace for recession, but turn to alternative sources for financial advice - family, friends, online resources, prayer and ChatGPT, which they say will provide better financial advice than a human advisor in the next five years, says a new survey.

In the past year, criticism of environmental, social, and governance investing has become louder and increasingly politicized in the U.S. and against this backdrop, new funds have emerged, called "anti-ESG funds," says Morningstar.