Retirement Trends

The Labor Department proposed new rules on Tuesday that would ensure financial advisors make recommendations "in the saver's best interest" and not sell them lower-returning products in order to maximize their own fees.

Evaluating and designing a benefits package that packs a punch is a big lift that requires the involvement of an organization's top decision makers, who may want to assess employees' needs, preferences and expectations. .

Hourly workers – who are 56% of the workforce – are less confident they'll have a comfortable retirement compared to salaried workers, while 25% of all workers say their employer doesn't offer a retirement plan, says a new survey.

Despite nagging inflation, 401(k) plans saw record-highs in participation, deferral rates and the use of professionally managed allocations in 2022, according to Vanguard.

Aside from the wealth of provisions offering everything from tax credits to reduced administrative burdens, the new law will be critical in building savings for part-timers, nonprofit workers and those saddled with student debt.

While 4 out of 5 working Americans say their financial situation is causing them anxiety, they want personal finance advice on side hustles, investing, budgeting and debt management to improve their situation, says a new survey.