Benefits

The company announced this week it will offer emergency savings accounts in 2024.

Fidelity Investments has revealed several best practices for employers to incorporate, bolstering access to emergency savings options and to limit early retirement-fund withdrawals.

Experts recommended maintaining regular outreach and measuring success as ways to champion a financial wellness plan. 

Using data on participants’ attitudes about saving and investing can help plan sponsors create more tailored benefits, according to panelists.

Equity losses for the month were offset by the largest single-monthly decline in liability value this year.

From incorporating an in-plan emergency savings vehicle to facilitating auto-portability, employers can take actionable steps to help disadvantaged workers save for retirement, Alight advises. 

Recorded sessions offer the insights and education on plan administration and compliance plan sponsors need to help employees create good financial outcomes.

Despite consistent contributions, participants taking loans or hardship withdrawals are half as likely to use auto-increase plan feature, T. Rowe Price finds.  

The Bureau of Labor Statistics, which would shut down completely, produces the data necessary to update the COLA.

By making health benefits more affordable for employees and ensuring there is time to explore all offerings, one midsize employer saw increased engagement during open enrollment season. 

The SAFER Banking Act would permit marijuana firms to access banking and financial services, including retirement plans.

Bank of America recommends plan sponsors act to promote greater employee retirement readiness.  

Retirees should expect a COLA of 3.2% for 2024, according to the Senior Citizens League.

The 10th Circuit has joined several other circuit courts in holding that a ‘meaningful benchmark’ must apply to 401(k) participant lawsuits, and ERISA attorneys agree it will not...

The NYC-based plan will receive about $20 million to restore its solvency through 2051.

BlackRock and Human Interest found that the lack of access to a retirement plan is a ‘crucial’ factor to preventing retirement savings.   

When assessing optional provisions like emergency savings and student loan matching, Vanguard’s David Stinnett says plan sponsors should take a ‘data-driven’ approach. 

In a partnership with Nudge Global, Delta will offer a new financial education program and reward workers with the local equivalent of $1,000.

The business process provider is transferring to HealthEquity more than $2 billion of assets held in its BenefitWallet Health Savings Account portfolio.

Individual coverage health reimbursement arrangements are becoming increasingly popular among small employers who want to help employees manage rising health care expenses.