About 3 million people retired earlier than they likely had planned as a result of the Covid environment, according to a report by a senior economist at the Federal Reserve Bank of St. Louis.
Carson Group is the latest to sign up for the three-year-old service that lets advisers allocate assets in held-away accounts like 401(k)s. It is compliance-friendly and secure, the firm says.
'There is no remote work. There is only work,' futurist Mike Walsh said during a session on the future of the industry at the Schwab Impact conference.
People are overworked, and burnout is causing 'brain fog,' exhaustion, cynicism and other issues, Jennifer Moss said at Schwab Impact.
The case has big implications for similar state programs that require small businesses with as few as five employees to provide retirement plans, unless they register for the state-sponsored option.
Fidelity is increasing its limit for student loan contributions for its employees, and MassMutual is letting people apply vacation time to payments.
TIAA settled claims in July from the SEC and New York State. Deloitte was recently sued over its plan, and Aon prevailed in a lawsuit.
Participation in 403(b) plans went up during the pandemic, to over 77% of eligible employees in 2020, compared with less than 77% in 2019 and 72% in 2018, according to PSCA.
Morningstar and Plan Administrators Inc. are planning to launch the pooled employer plan early next year, pending a final rule on environmental, social and governance factors from the Department of Labor.
ESG factors can be financially material, the DOL noted. And when they are not, they can be used in a tie-breaker between similar investments.
