Browsing Tag
401(k) Retirement
1080 posts
A 401(k) retirement plan is a tax-advantaged savings account offered by many U.S. employers to help employees save for retirement. Workers contribute a portion of their paycheck, often pre-tax, and employers may match part of that contribution. The money is typically invested in mutual funds, stocks, or bonds and grows tax-deferred until withdrawal, usually after age 59½. Some plans offer a Roth option, allowing after-tax contributions with tax-free withdrawals. 401(k)s have annual contribution limits set by the IRS and may include features like automatic enrollment and loans. Early withdrawals may incur taxes and penalties unless exceptions apply.
Spending Spikes Linked to 401(k) Plan Withdrawals
A report by EBRI and J.P. Morgan Asset Management links 401(k) plan data with consumer banking data to understand how participants react to irregular spending
$44 Million Pulled from DC Plans by Entertainment Workers During Prolonged Strike
Report says nearly 3,000 workers have filed for hardship withdrawals averaging $15,000 from their retirement plan in wake of writer’s strike
Borrowers Increasingly Stressed Over Looming Student Loan Payments
With payments starting up next month, close to half of borrowers say they feel extremely or very stressed, finds Achieve
Caregivers Worried LTC May Impact Retirement Confidence
As a result of their caregiving experience, nearly 90% say they have been influenced to plan ahead for their own long-term care needs
Inflation Fears Continue as U.S. Ranks 20th in Retirement Security
The slip is a two-point drop from 2022, finds Natixis in its just-released Global Retirement Index
401(k) Loan Activity Among Younger Workers Rises with Age
The study by EBRI and ICI found that 29% of younger 401(k) participants had an outstanding loan at some point in the five years analyzed, compared with 18% at year-end 2016
This Expense is 5x More Likely to Drive Spending Volatility in Retirement than Health Care
New T. Rowe Price research finds home-related expenses by far the biggest driver of retirement spending volatility
Wealthy Americans Look for Help with Financial Planning
Northwestern Mutual found 47% of high-net-worth individuals say their financial planning still needs improvement
Andrew Biggs Explains Why There Really Is No Retirement Crisis
Andrew Biggs, Senior Fellow at the American Enterprise Institute and a former Deputy Commissioner of the Social Security Administration, explains why he thinks most Americans probably are indeed saving enough for retirement, and how what he says are “flawed” calculations exaggerate the shortfall of Social Security’s retirement income replacement rate.
Corporate Roundup: PASI Joins USRBP, Mercer Appoints CIO
U.S. Retirement & Benefits Partners announced its acquisition of Pension Administrative Services, Mercer appointed its latest chief investment officer, and more