Retirement Trends

The Federal Reserve will likely hike interest rates by .25 points on May 3, though a recession is highly unlikely without a rise in the unemployment rate, according to an industry researcher.

The National Association of Government Defined Contribution Administrators sent a letter to the IRS and the Treasury, urging clarification on age-60 catch-up contributions and plan participation for part-time workers.

Millennials expect they'll need $1.3 million for a comfortable retirement but only 29% will reach that, while older workers say they'll need $1.1 million, though only 21% expect to reach it.

Since more than half of employees said they haven't received financial advice for investing or retirement, resources like employee assistance programs and financial well-being programs have never been more important, says a new survey.

There are five key questions every employee needs to consider on their path to retirement readiness, and employers are the ones who need to deliver the message as part of a much-needed financial wellness program.

The mandatory SECURE 2.0 provisions that must be implemented within the next two years are generally action items for human resource and benefits professionals, benefits committees, and recordkeepers.