The secret to getting employees to save more for retirement? Auto enroll them into your plans
Forty-one percent of employees regret not saving sooner for retirement. Getting them automatically enrolled in a 401(k) can help banish those doubts.
Wealth management
5 must-have financial wellness benefits for 2023, according to Goldman Sachs
Greg Wilson, head of workplace solutions at Goldman Sachs Ayco Personal Financial Management, shares what benefits will be trending in the new year.
22 HR and benefit lessons we learned in 2022
As plans come together for 2023, don't overlook the biggest takeaways of the past 12 months.
A BlackRock, ADP and Commonwealth partnership boosted workers’ emergency savings by over $1B
Data collected from the partnership helped ADP implement changes to its available savings program to increase employee participation.
SECURE Act 2.0 will make retirement savings automatic — how employers can prepare
Pending retirement legislation would make participation in workplace retirement plans mandatory and automatic.
Skip the fruitcake and offer up cash — what employees want for the holidays
More than half of employees are not happy with the holiday gift their employer offers. Here's how to do better this year.
401(k) loans and hardship withdrawals are rising
The percentage of retirement savers pulling money for hardships recently spiked 24%, according to new data.
Benefits Think Embrace 529 plans to help employees close their education savings gap
This voluntary benefit can finance a myriad of school programs and even be used to repay student loans or provide matching contributions.
Martha Slitt
Ascensus
U.S. inflation finally offers relief, but there’s still a long way to go
At 7.7%, annual inflation in October was the slowest since January.
Benefits Think How Americans could save $83 billion with one tweak to the 401(k) system
Auto-enrollment has the potential to be a game-changer in attacking glaring inequities in our current savings system, where millions historically have not had access to the same savings tools as those in higher income brackets.
Kristina Wallender
Human Interest
Millennials and Gen Z want more than a 401(k) for retirement savings. They want crypto
New research from Schwab Retirement Plan Services reveals how Gen Z and millennials are approaching their retirement planning — with personalized advice and even cryptocurrency investing.
Benefits Think 5 ways to help retirement participants navigate inflation and volatility
Since most Americans rely on the workplace for their retirement savings, employers are poised as an essential resource for helping people manage financial turbulence.
Anthony Bunnell
Morgan Stanley at Work
The 10 best places to retire in 2023
U.S. News and World Report released their annual ranking of the best cities in the country for retirees.
Benefits Think Bipartisan bills spotlight a growing need for emergency savings programs
Proposed legislation would establish rainy day accounts and provide for penalty-free withdrawal from retirement savings for unexpected life events.
Andy Banducci
The ERISA Industry Committee (ERIC)
Long story short: Employees need a financial boost — how you can help
This week's top stories address the impact inflation is having on employees, and the newest benefits that can help them alleviate their financial stress.
Benefits Think Financial wellness has gone digital — Are your benefits keeping up?
The digitalization of financial products makes integrating financial wellness solutions into benefits and payroll functions easier than ever.
Gautam Sukumar
ADP
Ascensus exec: 529 and ABLE plans can shore up families’ financial futures
Peg Creonte, president of government savings at Ascensus, explains how tax-advantaged savings programs can be a key to long-term financial wellness.
Benefits Think 7 tips to help employers and employees optimize HSAs
Research conducted by Voya shows that only 2% of respondents understood the full benefits of an HSA.
William G. Stuart
Voya Financial
Benefits Think How employers can go beyond salaries to attract top-tier talent
The most popular benefits employees want are financial well-being, mental well-being and child support.
Stacey Lowman
Claro Wellbeing
In the face of a recession, business owners avoid cutting salaries and benefits
Amy Friedrich, president of U.S. insurance solutions at Principal, discusses recent market trends and predicts potential shifts for 2023.
