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The total number of Americans voluntarily working part time is now more than five times the number of people who work part time but would prefer to work full-time, according to new data from the U.S.

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However, collect market data to establish target total compensation amounts for each job.

Grieb explains that the new rule expressly allows fiduciaries to consider what steps might increase the participation rate for their specific employees, adding that if certain investments could increase total plan assets through stronger participation or higher deferral rates, the DOL thinks that can be a relevant factor.

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As a result, some elements are underestimated or ignored, such as pensions, benefits and share awards, which are a much higher proportion of senior employees’ total rewards.