Hints and tips:
...Fink is not alone in his concerns about retirement. Congress has passed two reform packages in the past five years aimed at making 401(k) and other retirement plans more comprehensive and effective....
...The legislation would allow ordinary Americans to more easily allocate their 401(k) contributions towards private equity funds, an asset class previously unavailable....
...US law discourages employers from putting ESG funds into 401(k) retirement plans....
...More than 100m US participants save into DC retirement schemes and 401(k) plans, representing about $6.2tn in assets, almost a fifth of the total US pension market....
...It now makes the bulk of its money running 401(k) retirement plans and other employee benefits offerings. These services generate steady fees from captive assets....
...Many are run by first-generation immigrants from the Middle East and Asia who are approaching retirement, and who say that sales are the worst in decades....
...Advisers and plan sponsors continue to grapple with Americans’ reluctance to save for retirement....
...Consider definedcontribution retirement plans like 401(k)s....
...Wells Fargo, Bank of America and JPMorgan Chase are bidding to administer corporate pension plans, known as 401(k) plans, through which 50m American employees invest for retirement....
...She has already tapped her 401(k) retirement plan and exhausted her savings – and her home is in foreclosure....
...A few of its funds are among the most widely distributed in the 401(k) plan channel, including its 500 Index Fund and the Institutional Index Fund, according to BrightScope research....
...The first of the 401(k) lawsuits to make it to trial claims the Swiss engineering group ABB Inc and two units of Fidelity Investments are fiduciaries of ABB’s employee retirement plans and therefore defendants...
...Through 401(k) plans, workers in the US can save a portion of their salaries while deferring income taxes until they withdraw the money in retirement....
...The growing number of suspensions appears to strike a blow against the viability of 401(k) plans, which were introduced 30 years ago as the main way that Americans should save for retirement, replacing defined...
...A wave of US companies are suspending payments to their staff 401(k) retirement plans in a bid to cut costs....
...Among employees who have 401(k) plans, 20 per cent have reduced their contributions, and more say they intend to over the next 12 months, said Spectrem....
...Meanwhile, the largest employers with retirement plans of $1bn (£677m, €755m) or more have been pushing 401(k) providers to build customised funds tailored specifically to the demographics of their workforce...
...Sticky retirement assets and the predictability of salary deferrals have turned the segment into a desirable corner of the market, where 401(k) assets may swell to $3.5bn (£2.3bn, €2.6bn) by 2013, according...
...The rapid erosion of defined-benefit plans has left American workers increasingly reliant on their 401(k) accounts, which are based on the value of their own contributions....
...(k) savings plans....
...More than 90m Americans own stocks, through mutual funds and 401(k) plans. But Mr Reynolds adds: “There is a tremendous amount of cash on the sidelines today....
...AIG provides insurance protection to more than 100,000 entities, including small businesses, municipalities, 401(k) plans, and Fortune 500 companies who together employ over 100 million Americans....
...That is the amount Americans have lost from defined-contribution 401(k) pensions over the past 15 months....
...As defined contribution plans become the primary resource for funding the retirement of millions of Americans, asset managers and DC plan sponsors have been adopting concepts that have proved successful...
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