The new solution will help to promote plan participation and engagement.
Tag: 401(k) plan
For plan sponsors, having dedicated financial advisers to help with investment oversight brings added peace of mind, a survey says.
Imprudent investments and excessive fees were themes of lawsuits filed last week against retirement plan fiduciaries.
Focused analysis of market movements, business challenges and legislative and regulatory actions.
In most cases, the 403(b) is the better option.
Companies with more than one employee can save up to $995 in set-up costs for a new 401(k) plan.
ICI, SPARK and the ACLI are among the eight organizations making the request.
The Federal Retirement Commission would conduct a comprehensive review of private benefit programs in the U.S., with an eye toward strengthening them.
The EvoShare program also allows employees to receive up to 20% cash back on spending toward a 401(k) or 403(b) plan, and/or 529 plan.
On 89% of the trading days, 401(k) participants moved the majority of their money into fixed income, according to the Alight Solutions 401(k) Index
Investors tend to select funds at the top of an alphabetically organized list of funds.
Just over six out of 10, 61.6%, said they engage with their retirement plan, according to a survey by Vestwell.
Pentegra will provide recordkeeping and 3(16) fiduciary administrator services, and LeafHouse Financial will provide 3(38) discretionary investment fiduciary services for the plan.
They also say that these accounts help them think about the long term and make it easier to save, an ICI survey found.
The Center for State & Local Government Excellence notes that with many local governments shifting benefits decisions to workers, those workers need help understanding finance basics.
And demand for financial advice has increased, T. Rowe Price found in a survey.
But 55% decided to take no action.