Employer Resource Center

GAO on Crypto in 401(k)s: Risks and Oversight Challenges
Team SummitEmployer Resource Center, Fiduciary Governance, Plan InvestmentsComments are off for this post
Recent findings from the Government Accountability Office (GAO) highlight critical considerations for sponsors exploring cryptocurrency as a retirement plan investment option. The GAO report emphasizes that while cryptocurrency assets remain a small portion of the 401(k) landscape, they carry significant risk. Known for their high volatility, crypto assets like bitcoin can lead to substantial swings  Read More →
Why Employees Leave Matching Dollars on the Table
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
A 2023 Vanguard study found that a quarter of participants deferred less than 4% of their income — generally below the threshold to maximize an employer match. While financial constraints play a role for some, psychological factors can also contribute. Understanding these cognitive biases can help explain why workers forfeit free money — and highlight  Read More →
Portability Services Network Expands Impact
Team SummitEmployee Outcomes, Employer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
According to a recent release, the Portability Services Network (PSN), which began with three of the biggest recordkeepers in the country just over a year ago, has now grown to include three additional providers, covering over 15,000 retirement plans and 5 million members. For employees with balances under $7,000, PSN, led by Robert L. Johnson’s  Read More →

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