Retirement

Job switchers often reset the savings rate lower on their 401(k) accounts without realizing it, according to new research from Vanguard.

Over a third of plan participants have taken 401(k) loans and hardship withdrawals, while ESAs provide a no-cost alternative that cuts the likelihood of retirement loans and withdrawals in half.

Inflation is getting lower and, under federal law, that means the benefits cost-of-living increase is getting smaller.

Job seekers are now expecting financial wellness benefits, and nearly half (47%) of employers will offer them by 2026, according to Borja Perez at CloudPay.

She hopes to use prescription benefit savings and international tax changes to pay for the services.

Words are very powerful, says a new Invesco survey, which identifies some specific language that resonates with plan participants and can guide plan sponsors as they craft their messaging. For instance, "investment income" is preferred over "nest egg."

According to the Congressional Budget Office, the average 2034 per-user effect could be $650 in savings and $4,300 in costs for Medicare, but this could have a big effect on all employers health plans as well.

Comprehensive financial wellness programs can help employees stay on track to meet their goals, but also bring to light the issues they may not be thinking about that impact their financial well-being, says Goldman Sachs' Nancy DeRusso.