According to recent data from the National Council on Aging and the Women's Institute for a Secure Retirement, nearly half of women ages 25 and older lack access to a tax-advantaged, employer-sponsored retirement plan. Beyond closing the gender pay gap, employers can help women better prepare for a more secure retirement in a number of ways — read on to learn these strategies. 

Mistakes are inevitable in drafting legislation. This is especially true in tax legislation, as tax law is complex and more nuanced as compared to other areas of the law. Congress has informed the Treasury Department they intend to make four technical corrections to SECURE Act 2.0. Here are those changes:

Recent changes to the 2023 Form 5500 are intended to improve reporting of financial information and plan expenses. There are new compliance questions concerning safe harbor status and how a plan satisfied certain discrimination and coverage tests. To see how requirements compare from previous years, review our recent blog for answers.

In the future, Plan Sponsors will have to pay more attention to allocating unused balances in forfeiture and fevenue credit accounts. A proposed rule pertaining to allocating forfeiture account amounts has an effective date of January 1, 2024. To learn more about these changes, read our latest blog.

According to data released by the Investment Company Institute, retirement assets in the US grew by 3.5% quarter over quarter to $35.4 trillion, as of the first quarter of the year. Some good news is the data shows participants and IRA holders have not reacted to market volatility. See where the money resides in this short read.

There are many formulas for figuring out how much money you need to retire. While thinking seriously about retirement finances is useful, for most people, these formulas may not come close to what your retirement actually looks like.

A retirement plan may have one or more fiduciaries who have distinct responsibilities, though many individuals and committees may serve in multiple fiduciary roles. Learn which categories of fiduciaries impact specific areas of your retirement plan. 

High participation rates don't always translate to high deferral rates. By adopting a mix of strategies, plan sponsors can help encourage higher deferral rates, foster a culture of proactive retirement planning and help drive positive long-term outcomes for workers. If your employees have "fallen into the escalation gap," speak with your retirement plan advisor. See how a few strategies could benefit your retirement plan goals in our latest blog.