Retirement Trends

Employers can support lower-income employees by extending eligibility to part-timers, collaborating with their plan providers on educational campaigns, and raising awareness of the Saver's Credit, says a Transamerica report.

Starting on January 1, 2024, employers of any size can offer a student loan matching benefit within their company 401(k) or SIMPLE IRA plan, enabling employees to build their retirement savings while making student loan payments.

The Plan Sponsor Council of America looked at 250 nonprofit organizations that sponsor 403(b) plans for their employees, as automatic enrollment took hold in the nonprofit space.

To stop the "leakage" of retirement cash-outs when employees switch jobs, the Department of Labor proposes new rules regarding fees under SECURE 2.0, which is aimed at expanding auto-portability transactions.

"Employment extenders" - a growing segment of employees working beyond the traditional age of retirement - have unique needs that may influence how they use existing benefits but simultaneously be looking for new offerings.

Announced by the administration on Friday, the latest debt relief that affects teachers, nurses and firefighters comes on the heels of an announcement earlier this month fast-tracking the Saving on a Valuable Education (SAVE) plan.