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Retirement

10 low-cost communication tips to start open enrollment right

09/23/2024
With benefits election open-enrollment season looming at organizations across the country, make sure you avoid the mistake too many employers make: plopping a benefits booklet in front of employees and telling them to figure it out. That just doesn’t work anymore. Benefits have become too complex for employees to figure them out on their own. Here are 10 ways you can do a better job of communicating with your employees.

Guidance clarifies student loan 401(k) matches

09/19/2024
Beginning with the 2024 plan year, SECURE 2.0, the 2022 401(k) reform law, allows you to make matching contributions into the 401(k) accounts of employees who self-certify that they’re repaying their student loans. Interim guidance issued by the IRS describes the self-certification process and sets other rules.

Retirees more confident about retirement income than working-age Americans are

09/16/2024
Seventy-four percent of retired Americans say they have enough money to live comfortably. Those who haven’t yet retired aren’t nearly as confident. Only 45% of current workers believe they will have enough money socked away to retire comfortably.

Legislative milestone: ERISA turns 50

09/03/2024
Among other things, ERISA requires sponsors of private employee benefit plans to provide participants and beneficiaries with adequate information regarding their plans. In addition, employer representatives who manage benefit plans must meet certain fiduciary standards of conduct.

Retirement-savings research: How to enhance your retirement benefits and encourage employees to save

08/14/2024
Balances of defined-contribution retirement plans such as 401(k)s and 403(b)s grew significantly between 2019 and 2021, according to a new study by the Public Retirement Research Lab. Whether your organization operates in the public or private sector, the study offers some key takeaways HR professionals can use to encourage employees to contribute to their defined-contribution retirement plans.

401(k) balances up 17% year over year

05/20/2024
The Bank of America Institute crunched the numbers, concluding that employees are contributing slightly more to their 401(k)s while borrowing against their funds less.  

Survey: Most employees confident about their retirement readiness

05/13/2024
Two-thirds of employees say they are very or somewhat confident they will have enough money to live comfortably in retirement, according to the 34th annual Retirement Confidence Survey conducted in January by the Employee Benefit Research Institute and Greenwald Research.

7 tips for holding on to older workers nearing retirement age

03/20/2024
In today’s tight labor market, retention is more important than ever. If you have employees nearing retirement age, consider making an extra effort to hold onto them. You might find them more than willing to stay on the payroll.

Factor retirement boom into staffing plans

03/04/2024
A post-COVID retirement boom is sweeping the nation, a trend that’s likely contributing to today’s ongoing tight labor market.

Retirement: What HR pros need to know about SECURE 2.0

01/24/2024
The SECURE 2.0 Act of 2022, which went into effect Jan. 1, is the latest overhaul of the nation’s retirement planning laws. Here’s what you need to know.