December 2024 Newsletter
What Retirement Planning Isn’t
According to Northwestern Mutual’s 2024 Planning & Progress Study, Americans believe they need nearly $1.5 million to retire comfortably, a figure that has increased by more than 50% since 2020. The Employee Benefit Research Institute, however, reports...
What the DOL’s AI Guidance Means for Plan Sponsors
The U.S. Department of Labor (DOL) recently released voluntary guidance emphasizing the importance of ethical and transparent use of artificial intelligence (AI) in the workplace. Titled Artificial Intelligence and Worker Well-being: Principles and Best Practices for Developers and Employers, the document provides...
New 401k Rules: Balancing Access and Savings
When considering short-term funding options, participants are often advised to avoid tapping into their 401(k) accounts through loans or hardship withdrawals, as early withdrawals can impede long-term retirement savings. The SECURE 2.0 Act of 2022 introduced enhanced penalty-free emergency withdrawal provisions, offering...