Retirement Trends

A federal judge in Minneapolis has approved the huge settlement against the health insurer for depleting the retirement savings of 350,000 employees due to “poorly performing” target date funds.

The state House and Senate approved the legislation, which would step up efforts to enroll employees in the Maine Retirement Investment Trust, and is now awaiting the governor’s signature.

The SPARK Institute submitted several recommendations regarding Saver’s Match and proper use of forfeited plan funds to be part of the upcoming 2025-2026 Priority Guidance Plan, in a letter sent to the Treasury and the IRS.

While the actual 2026 Social Security cost-of-living increase for retired workers won’t be announced until October, the Senior Citizens League is predicting a 2.5% increase for 2026, up from last month’s prediction of 2.4%.

This week, Cigna was again sued for fiduciary violations for using forfeited funds to reduce employer contributions to the plan, following a similar suit last month. What's surprising is that another health insurer, UnitedHealth, is now facing two similar 401(k) lawsuits.

New study indicates 70% of Americans feel depressed and anxious about their finances and stresses the importance of having a financial advisor.