Retirement

Survey: Most employees confident about their retirement readiness

05/13/2024

Two-thirds of employees say they are very or somewhat confident they will have enough money to live comfortably in retirement, according to the 34th annual Retirement Confidence Survey conducted in January by the Employee Benefit Research Institute and Greenwald Research.

7 tips for holding on to older workers nearing retirement age

03/20/2024

In today’s tight labor market, retention is more important than ever. If you have employees nearing retirement age, consider making an extra effort to hold onto them. You might find them more than willing to stay on the payroll.

Factor retirement boom into staffing plans

03/04/2024

A post-COVID retirement boom is sweeping the nation, a trend that’s likely contributing to today’s ongoing tight labor market.

Retirement: What HR pros need to know about SECURE 2.0

01/24/2024

The SECURE 2.0 Act of 2022, which went into effect Jan. 1, is the latest overhaul of the nation’s retirement planning laws. Here’s what you need to know.

Help Gen X employees close retirement wealth gap

01/02/2024

Many of your Generation X employees may be woefully unprepared to retire comfortably, according to an annual survey of 2,000 investors by the Schroders financial services firm. The Schroders 2023 U.S. Retirement Survey found that Gen Xers, currently ages 43 to 58, have the largest wealth gap of any generation.

Defined-benefit plans make a modest comeback

12/19/2023

Since defined-contribution retirement accounts like 401(k) plans were created in 1978, they have become by far the most common kinds of employer-sponsored retirement benefits, almost completely replacing traditional defined-benefit pensions.

Lawsuits question use of 401(k) plan forfeitures

11/21/2023

Earlier this year, the IRS issued proposed regulations giving 401(k) plan administrators discretion to determine how the plan uses forfeited contributions. The regs didn’t go out on a limb; plan administrators have been using this discretion for years. But maybe not for much longer, if plaintiffs in two lawsuits have their way.

Online hearing on Labor Department’s fiduciary rule scheduled for mid-December

11/20/2023

The Department of Labor’s Employee Benefits Security Administration will hold an online hearing Dec. 12 and 13 on a proposed rule that would require financial advisors working on retirement-plan accounts to act in the best interests of investors, not the companies that create investment products.

Inflation worries reshaping employees’ retirement expectations, savings behavior

11/06/2023

Following a second straight year of above‐average inflation, and after last year’s volatile markets, workers’ perceptions of what retirement will look like have also begun to shift, further complicating the retirement outlook.

DOL proposed rule requires retirement plan advice ‘in investor’s best interest’

10/31/2023

The Biden administration on Oct. 31 proposed requiring financial advisors working on retirement-plan accounts to act in the best interests of investors, not the companies that create investment products. The core of the new rule—issued by the Department of Labor’s Employee Benefits Security Administration—is an updated definition of investment advice fiduciary. EBSA will enforce the rule if it becomes final, probably in 2024.