Financial Wellness: Is It the Right Prescription for Your DC Plan?

Jana Steele provides a summary of her recent white paper on financial wellness options for DC plans.

How DC Plans Should Prepare for Missed Loan Payments

Takeaway: The significant economic tremors, including income insecurity and job reductions, stemming from the coronavirus pandemic may lead to increased loan defaults and impact long-term retirement readiness. Background: Defined contribution (DC) plans have the option of offering loans to participants. Generally, the participant must repay a plan loan within five years (except for purchases of a primary […]