Financial experts agree: Employer-sponsored 401(k) plans are one of the best retirement savings tools. Americans have $5.7 trillion invested in employer-sponsored 401(k) plans, according to the Investment Company Institute. That’s about 20% of the total retirement pie in the U.S. But despite their widespread use, many people don’t understand how 401(k) plans work, especially when it […]
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Society is still placing unrealistic expectations on women in the workforce. About 70% of employed women are working moms, according to the Bureau of Labor Statistics. Yet despite this majority, women can still feel as if they need to choose between their career goals and family goals As such, mothers can find themselves feeling inadequately […]
Research shows that benefits drive the attraction and retention of employees even more than compensation. When implemented the correct way, these perks can help draw diverse groups of workers. So if this is the case, why are so many packages not tailored to diversified workforces? The short answer is because it’s easier to administer a […]
In July, Oregon became the eighth state in the U.S. to pass paid family and medical leave, and more than 20 other states are expected to pass similar legislation soon. Today, employer clients not only have to be compliant with the growing number of state and local laws, but also with FMLA, the ADA, statutory […]
The Department of Labor has issued a final prohibited transaction exemption for Retirement Clearinghouse’s auto-portability program, a move which may decrease the likelihood employees cash out their retirement plans when they switch jobs. DOL posted the exemption on Wednesday in response to a request for relief from the clearinghouse, a financial technology services company that works with plan […]
When the Department of Labor issued its final rule to expand access group retirement plans, it moved a step closer to what for many in the benefits industry is the ultimate dream: unfettered access to multiple employer plans. On Monday, the DOL announced it will relax the regulations governing which employers can band together to […]
Shopping around for the best deal on a medical X-ray or a new knee? The Trump administration has a plan for that. On Monday, it proposed new rules that would provide consumers far more detail about the actual prices hospitals charge insurers. It comes amid growing calls from consumer advocates, who argue transparency can help tackle rising […]
While the U.S. is the only developed country in the world without a federal paid leave policy, more states are passing laws mandating paid time off for workers to care for new or ailing family members. Last week, Oregon became the eighth state to pass such a law when it signed a bill, giving workers 12 […]
Smart employers are boosting their benefits packages with paid family leave — the most coveted work perk among all generations. In today’s low unemployment environment, paid leave benefits can be a huge differentiator in attracting and retaining talent. But some employers are getting themselves into trouble in the process, facing accusations of gender discrimination or improper […]
Student loan debt has become a key component of the broader financial wellness conversation, and employers are beginning to realize the value of offering a benefit that will help employees get a handle on the latest U.S. debt crisis. Yet employers are still falling behind on the work that needs to be done as just […]