BCG Blog - Sponsors

Data from the Bureau of Labor Statistics (BLS) shows that employees are also continuing to quit in 2023 at a rate similar to 2022. Some employers turning to long term temporary employees to fill these gaps may be wondering if they can roll those into systems set up for seasonal workers in terms of benefits. Plan sponsors should exercise caution in that area. Here’s why.

Substack subscriptions are booming. What can plan sponsors learn about how Substack’s formatting helps readers stick with long form pieces?

Right now, administrative agency authority is a source of tension. Rulings on one agency may signal limits on others that regulate plans and plan sponsors. Arguments about the DOL’s ESG rule aren’t the only ones being made about agencies’ plan sponsors should watch. Here’s a round up of some potential cases.

Plan sponsors contemplating changes to their auto-enrollment functions may want to pay attention to the rising number of folks using their tax returns as savings. Are Americans using their tax return as a default savings account? Auto-enrollment in savings for employees without an emergency account is a newer feature of some employee benefits dashboards and is not without criticism.

Educational options for plan participants just got easier. More online educational programs used by schools and universities are now including personal finance options. Here are a few options for outsourcing your educational programs.

Many plan sponsors and human resource professionals may have felt increasing pressure to expand their benefits. But with that pressure comes the tension of the expense of employee benefits. This conflict usually arises over the budgeting process. Yet, there are steps that HR professionals can take now to reduce budget tension.

Two new rules on credit reporting and credit card late fees may help employees feel empowered to tackle retirement savings. New rules proposed by the CFPB may ease employees’ minds around their relationship with their consumer debt.

New SEC custodial rules coupled with concerns over liquidity of custodians is a cocktail mix sponsors may want to send back to the bartender. A few key points to consider of how these two trends as well as how employee education about fiduciary duty may help ease concerns about custodial liquidity and bank failures.

If severance plans make you sweat, hang in there. Here is the latest in information about confidentiality and clear communication around how to use severance agreements to your best advantage and the increasing use of upskilling.