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Employees want greater benefits security, lower costs

Roughly half of U.S. employees want more help from their employers to save for retirement, balance their work and life issues and get the most value from their employee benefits, according to new research from the Willis Towers Watson consulting firm.

DOL adjusts penalties for 2021

The Department of Labor has announced the 2021 inflation adjustments to penalties for employers that violate of the Fair Labor Standards Act, the FMLA and the Employee Retirement Income Security Act.

Employers look to add value to retirement plans

Employers are eyeing a variety of new retirement plan features to enhance employees’ overall financial wellbeing, according to a new survey by Willis Towers Watson.

401(k) balances tripled between 2010 and 2018

The average 401(k) plan account balance of “consistent participants”—those who remained active in the same 401(k) plans from year-end 2010 through year-end 2018—almost tripled in that period.

Retirement savings: Little effect yet from coronavirus

The financial havoc created by the coronavirus pandemic has retirement savers worried, but so far most are resisting the temptation to tap into their 401(k)s to make ends meet.

Report addresses when to claim Social Security

It’s a basic tenet of HR that directly providing financial advice to employees is an ethical no-no. However, there is nothing wrong with steering them toward resources that can help them make good decisions about their money.

Single women worry most about retirement security

Unmarried women are less confident about their retirement prospects than their married counterparts, according to a new study by the Employee Benefit Research Institute. It turns out, there are good reasons for them to worry.

Retirement savings crunch bringing older workforce

Expect more of your oldest employees to delay retirement as long as possible. Baby boomers on your staff may be financially unprepared to quit working anytime soon.

Review pension plan for age discrimination

Here’s a $5.4 million reminder that discriminating on the basis of age when administering employee benefits violates federal law.

Final regs delay health & 401(k) plan deadlines

Final regulations and a separate disaster relief notice from the Department of Labor set up an outbreak period—running from March 1, 2020, until 60 days after the announced end of the coronavirus national emergency—that plans must ignore for purposes of employees’ health plan elections and 401(k) plans’ responsibility to provide notices to participants.