Tough markets in 2022 caused average balances to fall across industries, but some sectors managed to outperform significantly, according to Judy Diamond's 401(k) Benchmark Report.

The Police & Firemen's Retirement System of N.J. – the nation's largest police and fire pension plan – has finalized the transfer of assets from the N.J. Division of Investment, enabling the fund to manage investments independently.

The Washington Saves program, which will take effect in 2027, was signed into law late last week, and will require certain employers that do not offer a retirement plan to enroll employees into the state-run auto-IRA program.

As ideas on how best to help employees save money for retirement continue to advance, employers and plan sponsors will need to stay abreast of the changing regulatory requirements and evolving participant needs.