 Benchmarks Show.jpeg "Retirement Plans Looking More SECURE 401(k) Benchmarks Show")
The Setting Every Community Up for Enhance Retirement (SECURE) Act which was passed in the latter part of 2019, was designed to boost savings through 401(k) and similar retirement plans sponsored by employers. Plan data suggests that the law is on the right track to achieve this goal, as per the Plan Sponsor Council of America's (PSCA's) 64th Annual Survey of Profit-Sharing and 401(k) Plans report, which was released in December and basis its findings on the responses from 518 plans surveyed in 2021 about the prior plan year.
The average cost per employee cost of health insurance provided by the employer soared to 6.3 percent in 2021, as the employees and their families returned to treatment after avoiding it because of the pandemic, according to the HR consulting firm Mercer's 2021 national survey of Employer-sponsored Health Plans research published in December.
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