Payroll cards, onto which companies load workers’ wages, are growing by leaps and bounds. Their popularity is being driven by the savings the cards afford employers and the growing number of employees without bank accounts. But the cards have also become a target for state legislators and regulators over the last year.
Insurer says it will boost its 401(k) match from 50% to 100% of the first 4% employees defer.
House bill establishing national policy would exempt companies from tougher state, local rules.
Insurer disclosed in filing that it failed to pay monthly pension benefits to some retirees.
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