Same Income, Same 401(k), Different Account Balances? Plan Design Is Key to Wealth Gaps

Pre-retirement withdrawals is the single biggest factor causing wealth disparities.

By Lynn Cavanaugh | July 02, 2024 at 12:00 PM

How do plan sponsors and employers narrow the wealth gap in 401(k) plans? The Collaborative for Equitable Retirement Savings (CFERS), which collects data on retirement income disparities, attempted to provide some clarity on this topic in a June 21 webinar titled "Investors First: Strategies for Narrowing the Savings Gap in 401(k) Plans."

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23% of Americans Have $0 Savings: Helping Workers Do the Math, Save for Retirement

By Lynn Cavanaugh | October 18, 2024

Remind employees about student loan assistance options and provide personalized savings projections.

23% of Americans Have $0 Savings: Helping Workers Do the Math, Save for Retirement

Spending Spikes & Student Loan Debt Are Putting Retirement Savings at Risk

By Kristen Beckman | May 03, 2024

Employers can help employees save by automating and incentivizing emergency savings, but it's key to customize messaging that is unique to a specific employee demographic to increase the likelihood of them taking action.

Spending Spikes & Student Loan Debt Are Putting Retirement Savings at Risk

Prioritize Financial Wellness Programs: Top 5 Issues Employers Need to Focus On

By Scott Wooldridge | December 26, 2023

Employers are implementing initiatives in these five areas: the high cost of living, retirement preparedness, health care costs, budgeting and money management, and daily living expenses, according to a new EBRI report.

Prioritize Financial Wellness Programs: Top 5 Issues Employers Need to Focus On

Streamline Deposit Automation With a Single Platform link

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