To help prevent retirement plan cashout leakage when workers change jobs, 11 Senators sent a letter to Labor Secretary Acosta asking the DOL to issue guidance clarifying the application of ERISA to auto portability features.
Employees are increasingly looking to their employers for financial support and believe that employers also have a responsibility for their health and well-being.
Regardless of income level, most respondents in a new survey say they are behind in retirement prep and want to learn about retirement savings and personal financial management.
Witnesses at a House Financial Services subcommittee hearing largely supported a bill to repeal the current DOL fiduciary rule and direct the SEC to take the lead in regulating the standards of care for investment advice.
“Too expensive to set up” or “my organization does not have the resources” are the top reasons small to midsize businesses cite for not offering a retirement plan, says Pew Charitable Trusts.
Finding more holistic, intertwined financial management solutions to help Millennials tackle their student loan debt and assist them in saving more effectively for retirement was a key takeaway at a June 21 forum sponsored by the Women’s Institute for a Secure Retirement (WISER).
DC plans were on the receiving end of strong market performance during the first quarter of this year, rising 4.67%, its highest quarterly return since year-end 2013, according to the latest Callan DC Index.
Many are not taking all of the steps they need to prepare for retirement and are relying on uncertainties like receiving an inheritance, says a recent survey by Natixis Global Asset Management.
The vast majority of DC plan participants continued making contributions in 2016 and most “stayed the course” with their asset allocations, according to a recent Investment Company Institute study.
The House approved legislation on June 8 that seeks to repeal major provisions of the Dodd-Frank Act, as well as the DOL’s now-effective fiduciary rule.
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