The failure of several banks and the ensuing market turmoil has put investors on edge in the past week. While regulators and the Biden administration have tried to quell the concerns of jittery American consumers, the ripple effects are continuing to rattle the economy and many questions remain.
The crisis in Ukraine has been covered by the global media more closely than any other conflict that scorched the Earth in recent times or the ones that are ongoing currently parallelly in the middle east and elsewhere.
According to investopedia, an MEP or Multiple employee plan is a retirement savings plan adopted by two or more employers that are unrelated for income tax purposes, as defined by the Internal Revenue Service (IRS) and the U.S. Department of Labour (DOL).
The Secure Act 2.0 increases the required minimum distribution age to 73 starting in 2022, the age to 74 in 2029 and 75 in 2032. The original secure act expanded eligibility for long term, part time workers to contribute to their employers 401(k) plan.
A recent study on higher education plans from Voya found 43% of plan sponsors say motivating employees to save adequately and invest wisely are the top challenges in helping their employees prepare for retirement.