Investment advisors who encourage employees to roll over their 401(k) savings into an individual retirement account (IRA) must adhere to the “best interest” fiduciary standard, and do so from the first conversations about rolling over fund assets, according to new guidance from issued by the U.S. Department of Labor (DOL).
SHRM Online spoke with the author of a new report, “The Peak 65 Generation—Creating A New Retirement Security Framework,” about the role annuities can play with, and within, employer-sponsored 401(k) plans to provide protected lifetime income.
Among employers using company stock to attract and reward top talent, it’s important to help employees make the most of stock awards by offering financial planning advice as well.
More than half of first-time health savings account (HSA) contributors reduce their 401(k) account savings rate, new research shows. This needn’t put their retirement security at risk if some of their HSA dollars are used for long-term savings.
Employers can improve the value of workplace financial wellness initiatives by tracking metrics such as employee morale and financial stress, along with measures such as retention and absenteeism.
The COVID-19 pandemic has wreaked havoc on many things, including retirement plans. Here are four areas where retirement planning experts advise fresh thinking to help workers save for their golden years.