Browsing Tag
401(k) Retirement
1085 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.
Gen Z 401(k) Balances Spike in Past Year, Fidelity Data Shows
Fidelity Q2 analysis reveals average retirement account balances for 401(k)s, 403(b)s and IRAs all increased by double digits and “401(k) millionaire” ranks swell, thanks to steady contributions and positive market conditions
Plan Sponsors Look to Strengthen Nonqualified Retirement Plans
Respondents in the WTW survey cited recruitment and retention as the top reason for the enhancements
Millennium Trust Rebranding as Inspira Financial in 2024
New name reflects firm’s move beyond a trust and custody company to a “full-scale solutions provider”
Now Is the Time for Emergency Savings
SecureSave's Suze Orman and Devin Miller explain why employers are best equipped to incorporate emergency savings into their benefits package now
Employers Taking a More Proactive Approach to Financial Wellness
J.P. Morgan's latest survey finds 85% of plan sponsors feel a strong sense of responsibility towards employees' financial wellbeing
Corporate Roundup: Cetera and Securian Financial Acquisition, Latest Products at The Standard
Cetera acquires the retail wealth and trust business of Securian Financial, The Standard announces new products to its recordkeeping platform, and more
Americans in High-Cost Cities Could See Smaller Social Security Benefits
A brief by the CRR at Boston College draws on arguments that Americans who live in expensive cities could face smaller Social Security benefits due to the program's formula
ESOP Workers Report Higher Retirement Account Balances
Workers of employee stock ownership plans had a median account balance of $80,500, compared to $30,000 for the average 401(k) participant
Non-Retired Americans Expect to Earn $5,000 Monthly in Retirement
Schroders surveyed Americans on their expected monthly income throughout their golden years, finding that the average said they will need $4,940 a month during retirement
Why Only 1 in 10 Americans Maximize Social Security Benefits
2023 Schroders US Retirement Survey finds just 10% plan to wait until age 70 primarily over fears about the program’s solvency