An alarming trend could be affecting your staffers’ ability to save for retirement — and your return on investment for 401(k) and other retirement programs.
No question, a lot of HR and benefits pros can’t wait to distribute 401(k) fee disclosure statements to workers – and be done with the whole mess. But taking a “send it and forget it” approach to this compliance challenge is a big mistake.
By now you should’ve received fee disclosures from your retirement plan providers (they were due to plan sponsors by July 1). But if you didn’t, or you don’t like what you’ve seen, here’s what you’re required to do.
Recently, The Wall Street Journal asked a financial adviser a question many young workers are struggling with: Should they focus on paying off their student loans or join their employer’s 401(k) and collect the company match?
The IRS has completed compiling data from a 401(k) questionnaire it sent to 1,200 plan sponsors. The findings show what the most popular plan features are.
The Government Accountability Office is recommending the Department of Labor look to four countries for ideas on how to improve retirement accounts in the U.S.
By now you’ve probably seen the reports showing Americans’ 401(k) account balances won’t support a decent lifestyle in retirement. Well, Fidelity is saying those studies are using bad math.
When you issue to employees the first retirement plan fee-disclosure statements (Aug. 30) that list each and every plan fee, you can bet they’ll have a barrage of questions, concerns and complaints.
The next time you plan on communicating with your staff about the benefits of your retirement plan, it may make sense to put a heavier emphasis on trying to get female workers to ramp up their savings.
When all else fails to get employees to ratchet up their retirement contributions, hit them with this number.