Tag: 401(k)

Questions HR Needs to Ask When Buying HR Software

Miranda was an HR Works Podcast 5-Minute Friday guest, listen to that here. When you hit the market for HR software, it can be an overwhelming process. There are at least hundreds of solutions, many that specialize in one or two specific aspects of HR but then tag on all kinds of additional functionality. Wouldn’t […]

401(k)

401(k) Funds Are Being Diverted for Medical Expenses

The short-term financial impact of COVID-19 has been swift and damaging to many Americans. While we can’t yet calculate the long-term impact, early indications present a serious financial strain on future retirees’ retirement. We know that COVID-19 has increased the retirement gap, and new data from Kiplinger show the extent of this impact: 60% of […]

retirement

Pandemic Spurs Midyear Changes to Retirement Plans

Many employers searching for cost savings in the midst of the COVID-19 pandemic naturally have begun scrutinizing their contributions to benefits, such as retirement plans. The rules for making changes to retirement plan terms—and permit reductions in employer contributions—are complex, but new guidance temporarily permits you to reduce or suspend safe harbor contributions midyear.

T. Rowe Price Reports 401(K) Plan Loan Usage Drops To 9-Year Low

The use of 401(k) plan loans in 2018 fell to a 9-year low of 22.5% of participants and continued a steady 6-year decline of nearly 10 percentage points, investment management firm T. Rowe Price said on May 1, drawing on data gathered from nearly 2 million participants for its annual benchmarking report.

Are Your Participant Education Programs Failing?

Many 401(k) plan sponsors seek to reduce their potential fiduciary liability by electing to be a Section 404(c) plan. Under Employee Retirement Income Security Act (ERISA) Section 404(c), a fiduciary is not liable for losses in the plan resulting from the participant’s selection of investments in his or her own account, provided that the participant […]

coaching

Research Shows Strong Job Satisfaction, Benefits

2017 saw job satisfaction among U.S. employees fall. However, the American workforce might be out of its funk! According to new research, there is strong evidence that both workers and their employers have renewed feelings of workplace optimism and satisfaction.