Steven Abernathy

Nov 30, 2024 | inbusinessphx.com | Steven Abernathy |Benjamin Little

For many employers, managing a 401(k) plan has become another administrative task. Yet, as businesses seek to attract and retain top talent, the 401(k) plan holds untapped potential as a strategic tool for long-term workforce engagement and financial well-being. Unfortunately, employers are conducting fewer benchmarking audits of their retirement plans. Companies need these audits to avoid violating their fiduciary duties under the Employee Retirement Income Security Act (ERISA).

Sep 25, 2024 | hr.com | Steven Abernathy

The SECURE 2.0 Act allows employers to match student loan payments as 401(k) contributions, easing the financial burden for employees. Integrating the student loan matching provision helps companies support employee financial wellness, making it easier to attract and retain top talent. This benefit helps employees manage debt and retirement savings simultaneously, without making tough trade-offs between their financial priorities.

Sep 11, 2024 | benefitspro.com | Steven Abernathy |Matt Daley

Employers should consider the following 2024 updates to SECURE 2.0; the benefits will serve as a clear differentiator within an increasingly competitive and uncertain economy.

Aug 27, 2024 | hr.com | Steven Abernathy

Automatic enrollment and catch-up contributions under SECURE 2.0 are game changers for maximizing retirement savings. Employers can leverage SECURE 2.0’s new provisions, like student loan matching, to enhance their benefits packages and attract top talent. With the age for required minimum distributions extended, employees now have a longer window for tax-deferred growth in retirement savings.