The dust hasn’t yet settled, but a few things about the new tax law seem clear. Employees will likely begin to notice a difference in their paychecks as early as February, and some projections put the average worker’s additional spendable income at about $2,000 per year. What they will do…
It isn’t surprising that average contributions are generally lower for younger 401(k) plan participants. Not only is retirement much farther down the road for them than it is for their Generation X and baby boomer colleagues, many of them struggle with more debt and less income. On average, they contribute…
The Employee Retirement Income Security Act (ERISA) requires plan sponsors to act prudently when making decisions relating to the management or administration of the plan. These “fiduciary functions” must be performed solely in the interests of plan participants and beneficiaries, with the exclusive purpose of providing benefits, while defraying reasonable…
Financial Wellness is reaching majority status… And you are likely among the majority that not only want to help employees with their non-retirement financial matters but also are offering tools to make it happen. That statement can be made with some degree of confidence, because according to the Aon Hewitt…
As you probably know, the Department of Labor issued final guidance on the fiduciary rule in April. Now that the dust has settled, let’s take a closer look at how the new standards affect plan sponsors. The biggest change is an expanded definition of fiduciary advice and who provides it….
