One notable change from last year is increased utilization because of delayed preventive or elective care during the pandemic, which declined from 12% to 4%.
After a lot of pushback from employers and retirement industry organizations on a key SECURE 2.0 catch-up contribution change for higher-income employees, the IRS announced an "administrative transition period."
The lawsuit was brought by a former employee, who oversaw Twitter's benefits program, on behalf of thousands of employees who were laid off after Elon Musk acquired the company late last year.
Although the average retirement account balance rose in the fourth quarter of last year, balances ended the year down from a year earlier – losing nearly one-quarter of their value, according to a new Fidelity report.
"Businesses should consider establishing workplace-violence prevention plans to identify, assess, and intervene with current employees, former employees, and customers who may pose a risk of violence," according to a new report from the Secret Service.
The debate's likely to continue over whether 401(k) plan sponsors should consider environmental, social and governance factors when selecting investment options, but the rule creates new opportunities for advisors.