Defined Contribution PlansI bring you good tidings today from Charles Schwab, whose new data show that all the time youve spent getting blue in the face about the importance of rolling over 401(k) savings is doing some good!
It's safe to say that few 401(k) plan participants likely understand how their account balance will translate into a monthly income once they retire.
Mercer has combined some of my favorite things: lists and clever plays on words/numbers - oh, and good information, too.
Sponsors of 401(k) plans are concerned that employees don't understand their retirement plans, yet many of those same organizations are not increasing efforts to improve member understanding and education over the next year or two.
The Department of Labor launched a new Web page that focuses on compliance and reporting guidance for 403(b) retirement plans. The online page also includes a new Field Assistance Bulletin.
Among sponsors of 401(k) plans, overall satisfaction with their recordkeepers is down 30% to 40% across all markets, according to 401kExchange.
In a preface to the 2010 policy discussion about enhancing income security in defined contribution plans, the Internal Revenue Service ruled in PLR 200951039 (Sept. 21, 2009) on several issues under current law related to the use of annuity products in these plans.
The year 2009 turned out to be a comparably positive year for 401(k) investors, because the plans showed significantly higher balances in the final quarter and in the year as a whole.
Defined benefit plans fared slightly better than defined contribution plans as the economy began its decline two years ago, underscoring the importance of rebalancing 401(k) accounts.
Federal regulators hope that employers and other stakeholders in the retirement plan community can offer up some sound advice on providing annuities through defined contribution plans.
Hardship distribution provisions in 401(k) plans used to be one of those matters on which plan sponsors didn't spend a whole lot of time. But because of the economy, that's not the case anymore.
Matching contributions to employees' 401(k) plans were among the casualties of the recession for some companies over the last year or two.
The Internal Revenue Service has issued its long-awaited program for correction of errors in drafting nonqualified deferred compensation plans under Internal Revenue Code Section 409A.
Americans believe that owning a 401(k) account keeps them focus on their long-term financial goals and instills a sense of discipline in saving for retirement, according to a survey by the Investment Company Institute.
In his State of the Union address Jan. 27, President Barack Obama will propose the creation of a new employer-sponsored retirement account: the automatic workplace IRA.