The nearly 4,000 withdrawals totaled almost $100 million.
But those who fall short on saving are experiencing financial stress.
Though their business environments have not returned to normal, some employers that had made changes to their retirement plan match are beginning to revisit this decision.
What is particularly encouraging is that 37% of plans on T. Rowe Price’s platform automatically enroll their participants at a 6% or higher deferral rate.
Vanguard says that meeting these income needs, along with encouraging strong savings rates and diversification, are the primary drivers in creating successful retirement outcomes.
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Since 2005, we have honored 39 individuals and teams with the PLANSPONSOR Retirement Plan Adviser of the Year award program.
The focus of the new company, ShareBuilder 401k, will be on expanding coverage among small companies, says the president of the company.
Fidelity analyzed the balances of those who remained invested in their 401(k) in the decade following the Great Recession of 2008 and found that the balances went from $52,600 to $297,700.
Withdrawals from IRAs accounted for most of the leakage, according to the GAO.