If the pending legislation becomes law (and it's expected to be approved by Congress by the end of 2022), employers can boost 401(k) plans by implementing a student loan retirement match.

Particularly new hires, whose defined benefit plans are likely to be less generous than their longer-tenured co-workers, are not preparing adequately for retirement, says report.

The projected increase remains below the 8.3% CPI inflation rate. Small solace for plan sponsors seeking the ever-elusive predictable annual premium increase.

Administrative costs account for 15% to 30% of U.S. health care spending – and at least half of that spending is wasteful. Researchers note that not all administrative spending is wasteful, making a distinction between spending and waste.