Vanguard Sees All-Time High Deferral Rates, Plan Design Improvements in 2024
According to a preview of its ‘How America Saves’ report, Vanguard found that average account balances increased in 2024 and...
Tag: hardship withdrawals
Benefits |
Plan Sponsors Move Forward (Slowly) With SECURE 2.0 Provisions
While catch-up contributions and cash-out thresholds have been adopted widely, take-up is more ponderous for student loan matching and emergency...
IRS Provides Relief for Participants Impacted by California Wildfires
Relief includes postponed deadlines for 2024 retirement contributions and penalty-free hardship withdrawals for impacted participants.
An Accurate Measurement of Retirement Readiness Means Looking Beyond Averages
Frequent plan benchmarking is a useful way to measure participants’ retirement readiness, but a deeper analysis of demographics and financial...
Are 401(k) Loans Detrimental to Retirement Savings Behavior?
A new paper using Vanguard data suggests that many participants maintain their contribution rates while paying off 401(k) loans.
Can Self-Certification be Used for Unforeseeable Emergency Distributions?
Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations.
Plan Distribution Options Can Help Participants Recover From Disasters Like Debby
With the tropical storm causing extensive damage to homes and neighborhoods in the eastern US, plan participants can take out...
Products |
Product & Service Launches
ShareBuilder waives 401(k) setup fee; Voya launches access to SecureSave; Equitable expands Endowment Solutions Platform; and more.
Opinions |
To Drive Engagement and Improve Retirement Readiness, Plan Sponsors Need to Meet Participants Where They Are
Move beyond plan-specific education to respond to what employees really want.
Early Withdrawals Found to Exacerbate 401(k) Account Disparities Across Race, Gender
In addition to lower contribution rates, Black and Hispanic workers tend to withdraw money more frequently from their 401(k)s, resulting...
Comments Challenge IRS Interpretation of Automatic Features, Roth Matching, Other Provisions
The IRS December grab bag notice provisions on de minimis incentives and terminally ill distributions also received some pushback from...
Can Employer Contributions to 403(b) Custodial Accounts Be Distributed for Hardships?
Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations.
How Does the New Distribution Provision for Terminal Illness Work?
Experts from Groom Law Group and CAPTRUST answer questions concerning retirement plan administration and regulations.
Inflation, Credit Card Debt Drives Up 401(k) Loans, Hardship Withdrawals
Empower’s annual report mining data from 5.3 million workplace plan participants shows saver strains amid ‘steady’ deferral rates.
Benefits |
Inflation Did Not Curb Participants’ Retirement Savings in First Half of 2023
Despite consistent contributions, participants taking loans or hardship withdrawals are half as likely to use auto-increase plan feature, T. Rowe...
Benefits |
Workers’ Retirement Savings Are Boosted By Access to Savings Tools
BlackRock and Human Interest found that the lack of access to a retirement plan is a ‘crucial’ factor to preventing...
Hawaii Wildfire Victims May Be Eligible for Hardship Withdrawal Tax Relief
The Internal Revenue Service is providing expansive tax relief, including waiving the penalty fee for hardship withdrawals, for victims of...
Hardship Withdrawals Rose 36% Year-Over-Year in Q2
Bank of America participant analysis shows more employees prioritizing short-term expenses over long-term saving.
Retirement Contributions, Hardship Distributions Both Increased in Q1
Despite the markets dragging down retirement account balances, a snapshot of early-2023 activity shows workers still saving.
403(b) Plans Will Continue to Act More Like 401(k)s with SECURE 2.0 Changes
Plan sponsors offering 403(b) plans may be able to operate them more like 401(k)s after SECURE 2.0, according to experts.