Employee Outcomes

IRS Issues Guidance on Withdrawals for Domestic Abuse Victims
Team SummitEmployee Outcomes, Employer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
In late June, the IRS issued a notice providing critical guidance on early withdrawal penalty exemptions under the SECURE 2.0 Act. The law includes significant provisions for individuals experiencing domestic violence, an issue that has affected millions across the U.S. According to the Centers for Disease Control and Prevention (CDC), one in four women and  Read More →
The Arrival of Target Date Funds with Annuities
Team SummitEmployee Outcomes, Employer Resource Center, Plan InvestmentsComments are off for this post
With participants thinking erroneously that there is a guaranteed paycheck built into their retirement plan, the production of an “Income Target Date Fund” has grown exponentially. Since 2020, some target-date series now include a form of guaranteed income, providing participants with a more predictable future. What is a Target Date Fund (TDF) with an Annuity?  Read More →
Closing the Financial Wellness Gap
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
A recent survey from market intelligence firm Cerulli Associates highlights a striking disparity in the financial wellness space. According to the report, U.S. Retirement End-Investor 2024, more than 90% of defined contribution recordkeepers provide financial wellness services and 71% of plan sponsors have adopted such programs. Yet at the same time, actual engagement remains low,  Read More →

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