Retirement Regulation

The IRS has issued initial guidance to help plan sponsors implement the new pension-linked emergency savings accounts - and is open to comments in order to limit participant abuse of sidecar account matching contributions.

The automatic transfer of small-balance 401(k)s of workers who change jobs - now effective through SECURE 2.0 - could grow net incremental wealth by $1.5 trillion over 40 years, says the Retirement Clearinghouse.

There's an increasing recognition of the need to help participants convert their accumulated savings into a reliable income stream during retirement, according to the new Institutional Retirement Income Council report.

Although 92% of employers thought their retirement benefit offerings were competitive, 61% of their employees thought they could find a better retirement package with a different employer, according to a new Buck report.

Some of the new retirement regulations are mandatory, such as increases in mandatory distributions, while some are optional, like the student loan matching contributions, but the changes are significant for every generation.

At TIAA's recent "Securing Retirement in America" event, experts discussed the Lifetime Income for Employees Act, legislation introduced in Congress in 2023, and other solutions to improve lifetime income for workers.