The stock trading platform’s IRA with 1% match nears milestone after less than one year while CEO announces 3% IRA match for premium subscribers.
Online stock brokerage Robinhood said nearly 75% of more than 1 million users for its new IRA offering chose a Roth over traditional IRA.
Online brokerage Robinhood’s head of investment management left a 21-year career at J.P. Morgan to reach a wider population of American investors. She’s getting the chance with an IRA aimed at the gig economy.
Robinhood, which came to fame during the pandemic stock-trading boom, enters the retirement space via an IRA with an automatic 1% match.
It also identifies opportunities to improve participant outcomes.
The 2020 PLANSPONSOR Participant Survey also shows that company matches really matter to retirement plan participants.
Jason Chepenik says advisers need to continue to have the courage to try new ideas.
Employers can match up to 100% of employees’ contributions.
The program will go into effect for Travelers' U.S. employees in January 2020.
In such plans, they have more than twice the average retirement balance of other workers.
Willis Towers Watson offers nine actions for DC plan advisers to help their clients mitigate risks in 2019.
A 401(k) match and health insurance are the benefits they value the most
Workers under age 35 are realizing they need to start saving now, according to Ascensus.
Workers can move the entire match over or just a portion of it.
Fifty-two percent think they will be able to retire at their ideal retirement age, and 52% say they either somewhat or strongly agree that their savings will last throughout their lifetime.
Employer contributions and loans are also prevalent, a Brightscope/ICI report says.