Wednesday, September 13th, 2023 A biweekly topical newsletter from PLANADVISER Combatting the Coverage Gap There are tens of millions of American workers who do not have access to a workplace retirement saving plans. In this PLANADVISER Spotlight newsletter, we bring you trends and insights related to the retirement coverage gap.  SPONSORED AD PRACTICE MANAGEMENT ADP Exec: Start Auto-Enrollment With New Clients Now Plan advisers should also start talking to plan sponsors about providing company matches as post-tax Roth contributions and student loan matches, according to the retirement specialist. PRACTICE MANAGEMENT Aspen Institute Retirement Experts Look to Saver’s Match to Close Savings Gap An Aspen Institute forum on retirement considered major sector issues, including leveraging SECURE 2.0’s 50% federal matching contribution deposited directly into a taxpayer’s IRA or retirement plan. PRACTICE MANAGEMENT Why Short-Term Financial Stress Hurts Long-Term Savings A T. Rowe Price retirement expert finds participants who take multiple short-term loans end up with less retirement savings—furthering the case for emergency savings. DATA & RESEARCH Florida, Georgia, and Rhode Island Rank Lowest for Employer-Sponsored Retirement Plans Iowa, Idaho, and Montana came out on top when it comes to accessibility to workplace 401(k)s, according to analysis from the Economic Innovation Group. DATA & RESEARCH Few Americans Report ‘Financial Freedom’ Amid Record High Credit Card Debt Research from Achieve suggests Americans are struggling to make ends meet, but separate research from WalletHub notes inflation is masking relatively strong debt management. PRACTICE MANAGEMENT How to Best Protect Workers’ Retirement Savings Plan sponsors can utilize 401(k) loan insurance to maximize the power of automatic portability and protect workers’ savings, according to Faegre Drinker Biddle & Reath’s Campbell.  Did someone forward you this newsletter? Sign up here to get PLANADVISER Spotlight directly in your mailbox!

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