General Electric recently agreed to pay $61 million to settle claims that its underperforming retirement plan cost its employees millions of dollars. The settlement document was filed on Oct. 6 with a... Read more »
A concerning number of employees are tapping into their retirement accounts as they face financial headwinds, new research suggests, while overall retirement security continues to falter. Over one-third of workers (37 percent)... Read more »
Food company Chobani is beefing up benefits and wages in hopes of staying competitive in a continuing tight labor market, as well as alleviating pain points for employees in a challenging economy.... Read more »
Starting next year, some workers who make catch-up contributions to employer-sponsored retirement plans, like a 401(k), will have to instead put that money into Roth accounts—news that has big implications for both... Read more »
?At first glance, Secure 2.0 has something for everyone. In fact, the sweeping law with a range of retirement provisions that was passed late last year offers employers new opportunities to improve... Read more »
?Employees felt the sting of persistent economic and market instability in their 401(k)s in 2022, with the average account balance falling roughly 20 percent over the year, according to a pair of... Read more »
The U.S. Department of Labor’s (DOL’s) Employee Benefits Security Administration has proposed updates to its Voluntary Fiduciary Correction (VFC) Program, including adding a new self-correction component for employers that fail to send... Read more »
The U.S. Department of Labor (DOL) issued a final rule that permits retirement plan fiduciaries, such as 401(k) plan sponsors, to consider climate change and other environmental, social and governance (ESG) factors... Read more »
As the end of 2022 approaches, it’s again time for plan sponsors to review their plan documents and plan operations to ensure compliance with increasingly complex qualification requirements and moving deadlines. While... Read more »
?Delaware is joining a growing list of states that require employers to automatically enroll their workers in a state-sponsored retirement savings plan, unless the employer already provides retirement benefits. The state is... Read more »
