Research + Insights
We are keeping score and staying ahead of the industry.
We don’t mean to scare you, but the government is making a push to protect American workers and their retirement savings. That means new rules and stricter enforcement. If you think you’re immune, insured, or otherwise protected, just remember: Many of the plan sponsors in the crosshairs had no idea they were breaking the rules.
Employers should pay retirement plan fees (then everyone wins)
Employers should pay retirement plan fees instead of deducting them from employee accounts. Not only is this a win for your employees, but it’s a strategic move that benefits you as an employer, too.
AI has its foot on the gas pedal, and it’s changing how employee benefit plans are managed.
Artificial intelligence is not just for tech headlines. It’s transforming many business practices, and employee benefit plan administration is no exception. AI has caught the eye of state lawmakers, regulators, and ERISA litigators, reshaping plans and fiduciary oversight.
Large employers are redefining the future of health benefits
America’s largest employers are leading a shift in how health benefits are designed. They have an enormous influence in re-shaping the market, as these trends will be adopted by small and medium-sized companies. There are several key drivers forcing employers to pay attention.
The real cost of healthcare isn’t your spend.
If you are like most businesses, you look at the health benefits you offer and worry about overspend. But spend isn’t your biggest problem. Instead ask yourself … do you know what health benefits your employees are using or if they even understand what’s available?
The spend is just one small piece.
Employers are learning – Better benefits can be better business.
According to a recent survey from Lincoln Financial, small businesses are looking for better ways to compete for top talent without breaking the bank. Better benefits, which include alternative benefits, are shaping up to be an obvious solution.
The Supreme Court stood with employees in a major ERISA case against Cornell University
The Supreme Court resolved a long-running class action lawsuit brought by over 28,000 Cornell University employees, deciding in favor of the plaintiffs. This means a big shift in how Employee Retirement Income Security Act of 1974 (ERISA) cases will proceed in the future.
What’s wrong with healthcare in America?
RFJ Jr’s confirmation hearing has Capitol Hill asking the same questions Americans have been pondering for years: What’s wrong with healthcare in America?
Americans are skipping meals to save money
Intuit Credit Karma conducted a survey where one-quarter of the participants said they have skipped meals or sacrificed other spending due to rising costs. The price of food has jumped since the pandemic. A fact that has stressed many Americans. This is just one of the statistics to come out of the study. Food insecurity is always a major issue, and many people report changing the way they shop and prepare meals to combat the rising costs.
Gen Xers aren’t ready for retirement
Gen X is nearing retirement age and about half do not feel they are prepared. As the first generation of U.S. workers to rely mostly on 401(k) plans as their primary retirement savings, it’s a test of the program. The problem is the 401(k) puts the onus on the participant to determine how much to save and how to invest. The average retirement savings of a Gen X household is roughly $150,000 — a far cry from the $1.5 million that Americans say they need to retire comfortably.
Can you be sued if the market tanks?
Technically, ERISA includes language protecting participants from underperformance—in other words, if the investments in your plan underperform a benchmark for the broader market. In reality, these types of cases are hard to prove.