Americans believe they need roughly $1.5 million to retire comfortably — a number that has soared by more than 50% since 2020, yet the Employee Benefit Research Institute reports only about half of workers have calculated their retirement needs.

The conversation around prudent retirement planning should begin with defining what it isn’t... Read our latest blog for insight on four things retirement planning is not. 

The U.S. Department of Labor (DOL) recently released voluntary guidance emphasizing the importance of ethical and transparent use of artificial intelligence (AI) in the workplace. Although much of the focus is on workers, the principles also have relevance for plan sponsors. 

Here are ways AI can be leveraged in retirement planning with the DOL best practices in mind.

When considering short-term funding options, participants are often advised to avoid tapping into their 401(k) accounts through loans or hardship withdrawals, as early withdrawals can impede long-term retirement savings. However, the SECURE 2.0 Act of 2022 has introduced more penalty-free emergency withdrawal provisions, offering increased liquidity and flexibility within 401(k) plans.

See how participant 401(k) rates have remained steady even with early withdrawals with insight from Fiona Greig, global head of investor research and policy at Vanguard.   

Participant Corner: Winter Word Search

Rising 401(k) balances can lead to financial overconfidence for some participants, tempting them to view their retirement account as a quick fix during economic challenges instead of exploring alternative strategies for managing emergency cash flow.

Here are five ways employers can help.

Many plan sponsors focus on external cybersecurity threats, such as hackers attempting to breach their systems, however, disgruntled employees can also pose a risk. Read our latest blog for insight on best practices from the DOL on restricting access to plan administrations and employees. 

Thanksgiving offers more than just family gatherings and meals—it encourages reflection on finances with gratitude. The holiday can inspire better financial habits, such as managing holiday expenses wisely and practicing mindful spending. Here are a handful of tips that can alleviate any financial burdens you may face during the upcoming holiday season:

Rising 401(k) balances can lead to financial overconfidence for some participants, tempting them to view their retirement account as a quick fix during economic challenges instead of exploring alternative strategies for managing emergency cash flow.

Here are five ways employers can help.