Our Pooled Employer Plan (PEP) solution simplifies plan setup and provides fiduciary support, access to low-cost investments, and retirement education for your employees. If you own or lead a small or medium-sized business and you’ve been thinking about offering a retirement savings plan benefit for your employees, there may be no better time than now to get started. The recent passage of new legislation known as the SECURE 2.0 Act contains several provisions that make it more affordable and tax-efficient for employers to provide this key benefit to help their employees save for the future. Of ..read more

A Pooled Employer Plan (PEP) may be worth considering for small and medium-sized businesses looking to build a competitive 401(k) plan. Offering a 401(k) benefit can boost small and medium-sized businesses’ (SMBs) recruiting and retention efforts while saving them as much as $100,000 a year in reduced employee turnover costs, according to a study from Gusto, a benefits platform for SMBs. That’s a 2x return on the initial costs of offering a 401(k).  As talent shortages persist across all industries, including tech, small and medium-sized employers must differentiate themselves. Offering ..read more

Growing numbers of employers are choosing to include ESG (environmental, social, and governance)  investments in their 401(k) plan lineups. Increasingly, American workers, especially millennials and Generation Z, are opting to invest their retirement dollars into ESG funds due to their values-driven investing strategies. In 2020, millennial investors contributed $51.1 billion to ESG funds.  ESG funds are often referred to as “socially responsible,” “sustainable,” or “impact” investments. Today, workers across all generations are seeking to invest in funds that focus on factors such ..read more

If you’ve been involved with WTIA in any capacity but still haven’t joined, you’ve probably heard a lot about our membership program. With good reason—WTIA membership offers great benefits for tech and non-tech companies, and we’re proud to support and strengthen our community by providing access to opportunities that can help our members thrive. What Is WTIA Membership?  WTIA offers two tiers of membership: In the interest of best serving the technology industry, basic membership is free for all technology companies. We define a technology company as a company that designs and sells an ..read more

Guaranteed income products in workplace retirement plans are a hot topic among employers and workers. With people living longer and worried about running out of money in retirement, as well as recent legislative developments, growing numbers of employers are considering guaranteed income solutions to help workers transform their savings into a lifetime income in retirement.  Indeed, 81% of employers believe their employees want guaranteed income solutions in their retirement plans at work, according to a recent Nationwide Retirement Institute survey. And employees do want this benefit—a ..read more

Legislation currently under consideration on Capitol Hill could require many small businesses that currently do not have employer-sponsored retirement plans to automatically enroll their employees in individual retirement accounts (IRAs) or 401(k)-type plans. The proposed legislation is part of a retirement provision of the $3.5 trillion Build Back Better Act, designed to help close the retirement plan coverage gap and boost savings opportunities for American workers. The retirement provision was approved by the House Ways and Means Committee in September, and at the time of writing, is befor ..read more

Tech employers are striving to make their benefits packages more competitive to enhance recruiting and retention efforts—especially their 401(k) plans. It’s well-known that the tech industry faces a persistent talent shortage. As a result, tech employers have had to step up their benefits game, particularly when it comes to more widely available benefits like healthcare and retirement plan offerings. Sequoia Consulting Group’s 2021 Employee Experience Benchmarking Report (registration required) revealed that many tech companies are choosing to offer immediate eligibility and vesting, as well ..read more

Retirement plan legislation currently being considered in Congress could provide much-needed support to employers in their efforts to help more employees save for retirement.    The bipartisan Securing a Strong Retirement Act, or SECURE Act 2.0, passed the House Ways and Means Committee by a unanimous vote last month, and it’s now before the House for review. The SECURE Act 2.0 builds on the landmark Setting Every Community Up for Retirement Enhancement (SECURE) Act, which was signed into law in December 2019 to help improve retirement savings opportunities for American workers ..read more

The way Americans plan and save for retirement has changed dramatically over the past 30 years. Not that long ago, the workforce could count on a company pension to provide them with a stable monthly income as they transitioned into retirement. That practice started to fade away in the 1980s and by the 21st century, very few employers offered a defined benefit program.   In today’s world, most large employers offer participant-directed 401(k) retirement plans. These retirement programs place the primary responsibility on the employee to save for their retirement.  Among smaller ..read more

The majority of business owners recognize that a robust, competitive retirement plan offering is key to attracting and retaining top talent. However, small to mid-sized employers are often deterred by the hassle and expense of setting up and administering a new retirement plan, particularly if they are also looking to scale and add employees to support their growing organization. Recent regulatory shifts have taken aim at helping smaller employers offer retirement savings opportunities for greater numbers of employees while making retirement plan benefits easier to establish and administer. To ..read more