Retirement benefits

Many plan sponsors and participants don’t trust the federal government to keep its vow to allow tax-free distribution of Roth 401(k) balances. But taxing balances would not produce enough revenue, so the government is unlikely to go that route.

Workers’ understanding of target date fund is lacking, leading to a failure by many to rebalance other assets in their retirement plan portfolios, new research suggests

Connie Weaver, executive vice president and chief marketing officer at TIAA, explains the rationale behind the financial services firm’s new look and name.

Advisers can give employees tips on how to improve their 401(k) savings curve by taking small, manageable steps.

Employers acknowledge that defined contribution plans are the primary savings vehicle for many employees, yet their actions so far don’t reflect that line of thinking.

Research from Financial Engines suggests many TDF investors ‘misuse’ the funds because they fail to rebalance other assets in their retirement plan portfolios.

Reviewing a plan provider’s SOC 1 report helps employers determine that the service organization has the necessary controls in place to track the benefit plan’s investments and transactions.

Workers who are stressed about finances are absent on average 3.5 days per year, compared to 1.9 days for those who are not stressed about money, pointing to a need for more robust workplace financial wellness programs.

Employees can get tips on how to improve their 401(k) savings curve by taking small, manageable steps and other important advise.

Many plan sponsors and participants don’t trust the federal government to keep its vow to allow tax-free distribution of Roth 401(k) balances. But taxing balances would not produce enough revenue, so the government is unlikely to go that route.