education

Cybersecurity and How to Deal with Data Breaches as a Plan Sponsor
Team SummitEmployee Outcomes, Employer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
Retirement funds are a target for cybersecurity attacks and identity fraud more than ever before. For most people, their retirement account is one of their biggest assets and they rarely check it. This makes these accounts a prime target for cybercriminals. Data breaches with recordkeepers are common. Last month 1,833 Walmart participant 401(k) plans were  Read More →
Closing the Auto-Escalation Gap
Team SummitEmployee Outcomes, Employer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
High participation rates don’t always translate to high deferral rates. According to the 2022 Callan Defined Contributions Trend Survey, three-quarters of DC plans offer auto-enrollment, while only two-thirds provide an auto-escalation feature. This discrepancy is concerning, as deferral increases over time are critical in helping participants achieve their retirement savings goals. Stagnant contribution levels contribute  Read More →
Teaching Kids About Money
Team SummitBudgeting & Debt, Employee Financial Resource CenterComments are off for this post
As a parent, it’s your responsibility to teach your children about the world, including how to manage money. Financial literacy is one of the most important lessons you can impart on your children to make them successful in adulthood. Raise fiscally responsible children by teaching them the right lessons for their developmental level. Teach them  Read More →

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