When the pandemic is financially and emotionally affecting employees, they need access to sound reasoning.
Even as Congress fails to enact new relief legislation, experts say they do not suspect defined contribution (DC) plan withdrawals will rise.
An American Consumer Credit Counseling (ACCC) report found 23% of employees are also increasingly unconfident in the economy.
School districts will find that advisers who normally camp out in the cafeteria or teachers’ lounge are striving to continue educating participants in creative ways.
There was also a slight uptick in trading during June.
Statistics about disparities may reveal what is happening among plan sponsors’ own workforces.
Understanding each generation’s attitudes and concerns is key to knowing the right retirement savings education and tools to offer.
Those who did trade favored fixed income, according to the Alight Solutions 401(k) Index.
New data shows that the coronavirus pandemic is having a negative effect on small business employees, especially women, only adding to their retirement savings shortfall.
Stable value funds took in 64% of the inflows and money market funds, 24%, according to the Alight Solutions 401(k) Index.
Investors continue to favor fixed income, the Alight Solutions 401(k) Index finds.
Participants were “less reactionary” in their trading activity and, though they moved to fixed income for most of the year, contributions and returns increased equity holdings.
There are common and advanced approaches retirement plan participants can take to derail data breaches and retirement account fraud.
With competing financial priorities, Generation X can benefit from automated savings, savings education and access to a financial adviser.