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.

From recent college grads struggling with student debt to seasoned professionals planning an imminent retirement, participants’ financial needs and goals are as diverse as the workforce they’re part of. In response, many organizations have chosen to implement a multi-faceted financial wellness offering, yet a one-size-fits-all approach simply falls short. To ensure your employees are left feeling confident with their wellness programs, see how you can educate them. 

You may be eligible for a valuable incentive, which could reduce your federal income tax liability, for contributing to your company’s 401(k) or 403(b) plan. If you qualify, you may receive a Tax Saver’s Credit of up to $1,000 ($2,000 for married couples filing jointly) if you made eligible contributions to an employer sponsored retirement savings plan. Use our chart to determine your credit for tax year 2023.