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Bill would require automatic enrollment in retirement plans

H.R. 2954—the Securing a Strong Retirement Act of 2021—is designed to encourage more Americans to set aside money to fund their retirements.

Retirement saving balances, contributions rose in 2020

A booming stock market and higher savings rates pushed average 401(k) account balances to record levels in the fourth quarter of 2020, according to a Fidelity analysis of its investors’ accounts.

Retirement confidence high despite pandemic

Fully 72% of working people surveyed earlier this year by the Employee Benefit Research Institute say they are optimistic they will live comfortably after they quit working.

DOL guidance addresses retirement plan cybersecurity

The U.S. Department of Labor has issued new guidance for retirement plan sponsors on best practices for maintaining cybersecurity, including tips on how to protect employees’ retirement benefits.

Pandemic harms women’s retirement readiness

Women are saving less for retirement than men are, a trend that the coronavirus pandemic has made worse.

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.