Budget reconciliation legislation set for debate in Congress gives top billing to universal paid family and medical leave, but key retirement policies also stand out, including a broad mandate for employers to offer retirement plans.
The latest update of the Alight Solutions 401(k) Index shows the average asset allocation to equities rose in June to the highest level in 20 years. The index shows investors were content to watch their balances rise, as there were no days of above-normal trading activity. Average net trading activity was 0.009% of 401(k) balances, down from 0.011% in May.
The bill would encourage retirement plan participation by giving people penalty-free access to funds in the event of an emergency.
The service is designed for small accounts with less than $5,000.
Educating participants about the importance of remaining committed to retirement savings and of the value of consolidating accounts is a good place to start, experts say.
The firms say it can replace what has traditionally been a tedious, manual process.
The 2020 PLANSPONSOR Participant Survey also shows that company matches really matter to retirement plan participants.
The retirement planning and advisory industry is rapidly changing this year, with two more major acquisitions already being announced by CAPTRUST and OneDigital.
2020 was an extraordinary year, in ways we likely have yet to fully understand, and 2021 is proving to be a worthy successor. Join us for a one-day digital seminar on March 24, where we will explore key lessons learned from this extraordinary time for the retirement planning industry.
Nominations for the 2021 PLANSPONSOR Retirement Plan Adviser of the Year awards may be made by plan sponsor clients, employers, brokers/dealers of eligible advisers, as well as from working partners of these advisers.
The firm says it is waiving set-up fees on all of its 401(k) plans through December 22.
Do you work with, or know of, a plan sponsor that deserves recognition for going above and beyond? Consider nominating them for a 2021 PLANSPONSOR Plan Sponsor of the Year award.
Experts say the president-elect could start the process of shoring up Social Security and embrace ESG investing.
Retirement industry experts say automatic portability could be the solution to a pervasive problem.
In releasing its 2020 Global Retirement Index, the investment manager outlines obstacles to retirement savings but says expanding coverage to more people and pairing that with automatic features can mitigate the challenges.
They expect 44% of their retirement income will come from their 401(k), according to Charles Schwab, and half said they would benefit from financial advice.
There are a few surprisingly common things advisers do that really alienate this key market segment.