The relationship we forge with our future selves can greatly impact financial decision making in the present. Recent research revealed that subjects with a stronger connection to their future selves were more likely to delay gratification and make more prudent financial choices. But how can retirement plan sponsors help employees make the connection? Check out the "Future Self Tool" created by the Consumer Financial Protection Bureau.

A retirement plan may have one or more fiduciaries who have distinct responsibilities, though many individuals and committees may serve in multiple fiduciary roles. Here is a brief overview of the categories of fiduciaries.

With SECURE Act 2.0, there are a few mandatory changes taking effect in 2024 that retirement plan sponsors will need to comply with. These provisions require sponsors to work with their advisors, recordkeepers, and providers to develop a strategy for incorporating them into their plan design, as well as dealing with the cost implications that come with it. Also, learn about some Technical Corrections to SECURE 2.0 issued to the Treasury Department.