employer-matching contributions – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Wed, 01 May 2024 19:25:54 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-80/ Fri, 19 Apr 2024 13:00:14 +0000 https://www.benefitscanada.com/?p=154428 A story on how Organon Canada is supporting women employees at every stage of their career was the most-read story on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Organon launching initiative to support women’s career, health journey in the workplace 2. Survey finds 38% of Canadian employees […]

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]]> Can IBM’s retirement benefit account revive the traditional DB pension plan? https://www.benefitscanada.com/pensions/defined-benefit-pensions/can-ibms-retirement-benefit-account-revive-the-traditional-db-pension-plan/ Tue, 19 Dec 2023 14:00:44 +0000 https://www.benefitscanada.com/?p=148884 After closing its defined benefit pension plan nearly two decades ago and replacing it with a less riskier defined contribution plan, International Business Machines Corp. is launching a new retirement benefit account that allows its U.S. employees to have the best of both worlds. Last week, the company ceased its 401(k) matching and one per […]

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]]> 41% of U.S. employees cashing out 401(k) savings when leaving job: report https://www.benefitscanada.com/news/bencan/41-of-u-s-employees-cashing-out-401k-savings-when-leaving-job-report/ Thu, 27 Jul 2023 19:00:32 +0000 https://www.benefitscanada.com/?p=141517 Two-fifths (41 per cent) of U.S. employees are cashing out their 401(k) plan savings when they leave a job, with 85 per cent draining their entire accounts, according to a new report by the University of British Columbia, Texas State University and the University of Colorado Boulder. The report, which analyzed data from more than […]

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]]> Survey finds half of U.S. workers want an employer-sponsored retirement plan that offers emergency savings features https://www.benefitscanada.com/pensions/retirement/54-of-u-s-workers-want-an-employer-sponsored-retirement-plan-that-offers-emergency-savings-features-survey/ Mon, 24 Apr 2023 13:00:10 +0000 https://www.benefitscanada.com/?p=136873 More than half (54 per cent) of employees without a workplace retirement savings plan — including 77 per cent of millennials — say they’d participate in an employer-sponsored plan if it offered emergency savings features, according to a new survey by Natixis Investment Managers. The survey, which polled more than 700 U.S. employees, also found nearly three-quarters […]

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]]> Gesco, Unifor agreement includes retirement, paid leave gains https://www.benefitscanada.com/pensions/cap/gesco-unifor-agreement-includes-retirement-paid-leave-gains/ Mon, 27 Mar 2023 13:00:43 +0000 https://www.benefitscanada.com/?p=135642 The union representing employees at Ontario-based flooring company Gesco Ltd. Partnership has ratified a three-year collective agreement that includes retirement and paid leave gains. The company will now match all regular employees’ contributions to the group registered retirement savings plan to a maximum of four per cent of their basic annual earnings. The agreement also […]

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]]> Nearly all U.S. workers say it’s important for employers to provide a retirement savings plan: survey https://www.benefitscanada.com/pensions/retirement/nearly-all-u-s-workers-say-its-important-for-employers-to-provide-a-retirement-savings-plan-survey/ Thu, 23 Feb 2023 14:00:59 +0000 https://www.benefitscanada.com/?p=134313 Nearly all (98 per cent) U.S. employees believe it’s important for their employer to provide a retirement savings plan, according to a new survey by Vestwell Inc. The survey, which polled roughly 1,300 employees and 250 employers, found nearly three-quarters (72 per cent) of employees said they expect employers to offer a 401(k) or 403(b) […]

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]]> New U.S. pension law strengthening retirement savings for workers https://www.benefitscanada.com/pensions/retirement/new-u-s-pension-law-strengthening-retirement-savings-for-workers/ Fri, 13 Jan 2023 14:00:16 +0000 https://www.benefitscanada.com/?p=132425 A new U.S. law that aims to strengthen retirement support for workers holds valuable lessons for Canada’s retirement system, says one pension consultant. The Secure 2.0 Act of 2022, which was signed into law in December, contains several provisions to enhance the U.S. retirement system and boost retirement savings, including a requirement for plan sponsors to […]

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]]> 2022 Top 50 DC Plans Report: How are DC pension plans evolving? https://www.benefitscanada.com/archives_/benefits-canada-archive/2022-top-50-dc-plans-report-a-look-at-the-past-present-and-future-of-dc-pension-plans/ Fri, 14 Oct 2022 12:55:41 +0000 https://www.benefitscanada.com/?p=128067 While defined contribution pension plans currently outnumber defined benefit pension plans, this wasn’t always the case, recalls Bita Jenab, a principal at RetirementWorks Services Inc. DC plans began to gain popularity in the mid-1980s, due to a combination of legislative and economic changes, she adds. “This period marks the introduction of pension accounting rules under […]

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]]> East coast companies among early adopters of new retirement savings platform https://www.benefitscanada.com/pensions/cap/new-retirement-savings-plan-offers-options-to-not-for-profit-sector/ Tue, 29 Jun 2021 13:00:50 +0000 https://www.benefitscanada.com/?p=103076 Two East coast companies are among the early adopters of a retirement savings platform for employers in the not-for-profit sector. Prince Edward Island Family Violence Prevention Services Inc. and Newfoundland-based Thrive previously offered their employees group registered retirement savings plans. Danya O’Malley, executive director of the PEI Family Violence Prevention Services, says lower fees was […]

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