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.
Retirement Could Be A ‘Nightmare’ For Generation X
An analysis from NIRS found the typical Gen X household has just $40,000 in retirement savings in private accounts
Corporate Roundup: Ascensus Brings In President, Principal and Alera Group Hires
Ascensus hires 25-year industry veteran as its next president, while Principal and Alera Group announce their own new hires
Senator Murray Calls for Tax Fairness with Social Security
In a Senate Budget Committee Hearing on Wednesday, Sen. Patty Murray (D-WA) called upon wealthier Americans to pay their "fair share" of Social Security taxes
Employees More Likely to Stay if Offered a Retirement Plan
New study from Voya Financial finds most employees are more likely to stay with an employer if they're offered a retirement plan
IRI Calls On Biden Administration to Review Retirement Security Bills
While SECURE 2.0 offers enhanced retirement measures, IRI notes that there is still more work to be done
Latest Social Security COLA Projects Increase of 3%
The rise is a 0.3% increase from last month's estimate of 2.7%
Gen Xers Know They’ll Need a Lot to Retire—But They Don’t Have It
Insured Retirement Institute finds most Gen Xers expect to need more income in retirement than previous generations, but they’re not confident their savings will suffice
Why Digital Recordkeepers are Poised to Disrupt the Retirement Plan Market
Retirement Planscape report from Escalent identifies plan sponsor pressures, ranks likelihood of which digital recordkeeper firms they will consider for their 401(k) plan in the next 12 months
Principal Becomes 6th Recordkeeper to Join Portability Services Network
With the addition, industry consortium to support automatic portability of retirement accounts will include 93 million workers and 231,000 plans
How Each Workforce Sees Their Retirement in a Post-Pandemic World
New findings from Transamerica analyzes how workers think about their retirement in a post-pandemic reality