Two Thirds of Millennials Have No Retirement Savings
Only one-third are participating in their retirement plan
Tag: 401(k)
More Than Half of Americans Not Contributing to a 401(k)
Furthermore, only 37% are contributing to an IRA, and 18% to a HSA, Edward Jones learned in a survey
Sponsors Making Deliberate Enhancements to Retirement Plans
Concerned that workers are not saving enough, employers are hoping to improve their financial security, Willis Towers Watson found in a survey.
California Lawmaker Pushes for State DC Plan Option
A new bill in the California legislature would offer new state employees a 401(k)-style plan in which their own contributions would be fully matched by the state.
DC Plan Investors Stayed the Course in the First Nine Months of 2017
Only 2.4% discontinued contributions, a mere 2.8% took withdrawals and just 1.3% took hardship withdrawals, ICI data show
DISRUPTION: Driving Down Plan Costs a Clear Focus for FixedFee401k
Our series of exclusive articles featuring retirement industry “disruptors” continues with another growing provider in the small- and mid-market, promising 50% lower costs than the traditional competition through...
BofA Merrill Lynch Participant Website Relaunch Reflects Wellness Trends
The redesigned plan participant portal is based on insights gained from working with more than 5 million workers across the U.S., according to the firm.
Inside View of Sales Strategy and Competition at America’s Best 401K
Josh Robbins, lead strategy officer for the direct-to-sponsor plan provider America’s Best 401K, offers a closer look at the virtues and potential weaknesses of the firm’s “disruptor” model...
Nearly One-Third of Employers Plan to Use Tax Breaks on Employee Compensation, Benefits
Of this group, 25% said they will increase their company match to the 401(k) plan.
Nearly 40% of Participants Rely on Plan Provider to Manage Outside Assets
Another 35% would consider doing so, according to Spectrem Group
Data Points
403(b)s: Similar but Different
For instance, compared with others, these plans are less apt to offer loans
Editor’s Letter
Rethinking Savings Goals
Considering participants who want to save the maximum to their 401(k)
Employee Gets Jail Time for Embezzling 401(k) Funds
A former office manager of New England Anesthesiologists, Inc. was found guilty of embezzling $120,313 in employee deferrals.
Americans See Value in DC Plan Designs
Americans are confident DC plans will help them meet their retirement goals, ICI found.
Would Americans Balk at Mandated Offering of DC Retirement Plans?
With the Affordable Care Act and other pieces of major legislation that altered financial norms a guide, one expert asks whether a mandate to require employers to provide...
401(k) Participants’ Equity Holdings Drop As They Age
The younger the investor, the more likely they are to have their money invested in equities, while older investors are more likely to gravitate to fixed-income securities, according...
Drinker Biddle: Tax Cuts Alter Loan Offset Rollover Requirements and More
One change in the law means that in many cases, a participant will have more time in which to effect a tax-free rollover of a plan loan offset...
Employers Should Shift Perception of Managed Accounts
Research from Cerulli Associates finds plan sponsors must position managed accounts as a service, in order to change its costly product reputation.
Small-Businesses Workers Require Greater Retirement Plan Access
New research from Finhabits, a retirement plan robo-advisory platform, suggests small businesses in Hispanic-majority metro areas struggle to offer retirement plans, but there are opportunities for significantly improving...