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.
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.
From recent college grads struggling with student debt to seasoned professionals planning an imminent retirement, participants’ financial needs and goals are as diverse as the workforce they’re part of. In response, many organizations have chosen to implement a multi-faceted financial wellness offering. However, the question remains: how do you ensure participants connect with the resources that most closely align with their individual needs?
The advent of generative artificial intelligence (AI) technology, such as ChatGPT, promises to transform the way businesses operate across sectors. Yet as quickly as novel applications and abilities surface, so does more evidence of the limitations and shortcomings of large language models. Plan sponsors can harness the immense power and utility of generative AI to provide better support to plan participants, but they must do so only after putting prudent processes and safeguards in place.