Employer Resource Center

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 →
What the DOL’s AI Guidance Means for Employers
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
The U.S. Department of Labor (DOL) recently released voluntary guidance emphasizing the importance of ethical and transparent use of artificial intelligence (AI) in the workplace. Titled Artificial Intelligence and Worker Well-being: Principles and Best Practices for Developers and Employers, the document provides a roadmap aimed at helping ensure AI improves job quality while protecting workers’  Read More →

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