Retirement Trends

More than 485,000 accounts had seven-figure balances at the end of the first quarter, a 15% increase from the end of 2023, according to Fidelity, which is the largest 401(k) platform in the country.

The alarming pay gap between WNBA and NBA basketball players offers a glimpse into the 30% retirement income gap between men and women – and TIAA sheds light on how plan sponsors can best reach women participants.

A former Wells Fargo employee filed a lawsuit last week, alleging that the bank mismanaged its 401(k) plan by using assets forfeited by former workers for its own financial benefit instead of plan participants.

While Congress is interested in making it easier for employers to offer pension plans since DC plans might not provide enough retirement income, employers need to think "more holistically" about programs, says NIRS.

The Rhode Island Secure Choice Retirement Savings Program will follow the structure of other "Secure Choice" savings programs already implemented or approved in 16 states.

Retirees claim that AT&T selected a "risky" insurer, Athene Annuity and Life, to conduct the $8.05 billion pension risk transfer of plan assets, but the company claims it is not responsible for a decision made by its independent fiduciary.