Get the latest retirement plan industry news, education and tips you need to know to help navigate your fiduciary responsibilities. Contact your Plan Consultant with any questions.
According to recent data from the National Council on Aging and the Women's Institute for a Secure Retirement, nearly half of women ages 25 and older lack access to a tax-advantaged, employer-sponsored retirement plan.
According to the Employee Benefit Research Institute's 2023 Retirement Confidence Survey of 2,357 Americans, workers’ and retirees’ confidence that they’ll have enough savings to comfortably support themselves through retirement has dropped to levels not seen since the 2008 global financial crisis. The findings show 64% of workers feel “at least somewhat confident,” with only 18% feeling “very confident” as they remain concerned about inflation and the possibility of recession. Employers can deploy several strategies to help.
Financial stressors, including stubbornly high inflation and historic levels of credit card debt, continue to impact workers across a wide range of income brackets. Research concludes that employees often run out of money in between paychecks. Due to this, professional retirement planning assistance has become a key focus for employees in terms of benefits considerations.
When conducting three- to five-year live-bids, it can be tempting to hyper-focus on fees. But a thorough review of qualitative measures can be key to getting more of your organizational needs met. Here are some considerations to keep in mind when assembling — and evaluating — your next RFP.
The relationship we forge with our future selves can greatly impact financial decision making in the present. Research reveals that subjects with a stronger connection to their future selves are more likely to delay gratification and make more prudent financial choices. But how can plan sponsors help employees make the connection?
A retirement plan may have one or more fiduciaries who have distinct responsibilities, though many individuals and committees may serve in multiple fiduciary roles. Here is a brief overview of the categories of fiduciaries.