Shifting 401 k near retirement eases fears: related news

The Roth 401(k) Estimator (401(k) Plans)

This retirement savings option, which first became available on January 1, 2006, combines features of both a traditional 401(k) plan and a Roth IRA. Like a Roth IRA, contributions are made on a post-tax basis and qualified withdrawals taken during retirement are completely tax free. (With a traditional 401(k), contributions are pretax and withdrawals taken during retirement are taxed as ordinary income.) And like a traditional 401(k), the Roth 401(k) has no income restrictions — if your employer offers it, you're eligible. (For more details, read our story, "Introducing the Roth 401(k).")

401(k) Debit Cards: Taking A Swipe At Your Retirement Savings

Debit cards linked to 401(k) accounts give individuals the ability to access funds approved for loans from their retirement savings quickly and easily. But given Americans' already low rate of saving for retirement, is it such a good idea? If you have a 401(k) plan and are considering applying for a loan from your account, it is crucial to understand how a 401(k) debit card works if your employer allows you to access the loan in this way. Let's take a look at the potential pros and cons of using a debit card to access your 401(k) loan funds, and how to determine whether you should to use the feature. (For background reading on 401(k) plans read The 4-1-1 on 401(k)s.)

Financial crisis highlights contrasting pension and 401(k) investment risks

Watson Wyatt has analyzed the contrasting investment risks faced by defined benefit pensions and 401(k) plans during the current financial crisis. The predictable, mainly guaranteed income of pensions (including hybrid plans like cash balance plans) contrasts sharply with the day-to-day fluctuation of 401(k) account values, which are wreaking havoc on planned retirements. “We are in uncharted territory. The 401(k) plan has been around for less than 30 years, and we’ve not yet had a generation of workers retire on all or mostly 401(k) assets,” said Alan Glickstein, a senior retirement consultant at Watson Wyatt. “What happens when market volatility makes 401(k) investment returns and retirement income anything but predictable?”

Securian's Annual 401(k) Checkup Helps Employees Keep Pace With Retirement Savings...

Securian's Annual 401(k) Checkup Helps Employees Keep Pace With Retirement Savings Goals ST. PAUL, Minn., Nov. 12 /PRNewswire/ -- When we get serious about saving for retirement, we do some quick calculations and come up with The Number -- the amount we think we need to save to provide enough income to last throughout retirement. As time goes by, that number may fluctuate and it becomes difficult to know whether retirement savings are on track. People enrolled in Securian Retirement 401(k) plans can track their savings progress on their plan statements. Once a year, in clear language with simple graphics, the Annual Checkup provides retirement plan participants with an estimate of how close their current savings rate will bring them to The Number.

Wachovia Retirement Services Wins Five Gold Awards from Profit Sharing/401(k) Council of America (PSCA)

CHARLOTTE, N.C., Sept. 24 /PRNewswire-FirstCall/ -- Wachovia Retirement Services has received five Gold Signature Awards from the Profit Sharing/401(k) Council of America. The firm was recognized for the communication and education programs that it produced in the categories of Retirement Readiness, Roth 401(k), Complete Campaign, Increasing Deferrals and Plan Design Changes. "I am very proud of our team for winning these five gold awards, said Joe Ready, Executive Vice President and head of Wachovia Retirement Services. "Americans are under ever-increasing financial pressures, and it's very easy to ignore retirement planning. However, we believe the best antidote to any inertia related to retirement is education. People have to understand what their options are and how they can maximize their retirement savings.

Shifting 401(k) near retirement eases fears

Jitters about retirement savings have mushroomed as the Wall Street crisis has grown ever more ominous. During the first week of the meltdown last month, $411 million in 401(k) money was moved into fixed-income funds, including stable value, bonds and money market funds, according to Hewitt Associates.

Will Your Employer Eliminate 401(k) Matches?

Retirement savers already reeling from catastrophic stock market losses can add a new worry to their sleepless nights: losing their employer's 401(k) match. General Motors employees saving for retirement will no longer receive a match for retirement dollars tucked into their 401(k)'s. And many retirement experts say that other companies are likely to suspend 401(k) matches as the financial crisis exerts pressure on their bottom lines.

Will your employer eliminate its 401(k) match?

Retirement savers already reeling from catastrophic stock market losses can add a new worry to their sleepless nights: losing their employer's 401(k) match. General Motors employees saving for retirement will no longer receive a match for retirement dollars tucked into their 401(k)'s. And many retirement experts say that other companies are likely to suspend 401(k) matches as the financial crisis exerts pressure on their bottom lines.

Ascensus, LPL Financial and 401(k) Advisors Partner to Deliver a New Retirement Plan Offering with Fiduciary Protection

s largest independent administrator and recordkeeper for plans in the micro to large segments of the market, announced today it has partnered with LPL Financial and 401(k) Advisors to deliver a unique and innovative retirement plan solution: Fiduciary Advisor 401(k). Designed to support financial advisors and their clients, Fiduciary Advisor 401(k) is a comprehensive suite of retirement plan services, featuring a broad investment platform, full-fee disclosure and fiduciary protection.

401(k) Debit Cards Now Being Offered

The SEC advises that a number of companies are beginning to offer a 401(k) debit card to employees who invest in 401(k) retirement programs. This card allows the employee to borrow up to $50,000 or 50 percent of the value of the retirement plan, whichever is less, through use of a debit card. However, unlike a debit card that deducts money from a bank account, this 401(k) withdrawal is a loan from the retirement account and users must repay it along with fees and interest or incur substantial penalties. More information may be found at www.finra.org/investorinformation.

Equifax to Change U.S. Retirement Plan and Offer Enhanced 401(k) Plan

today announced that it is redesigning its retirement program for active U.S. employees effective January 1, 2009. The changes will affect approximately 4,000 of the Company's approximately 7,000 employees. Equifax will freeze its qualified defined benefit pension plan for U.S. employees who do not meet certain grandfathering criteria for retirement eligible employees, and will provide these employees and certain other employees not eligible to participate in the Plan with an enhanced 401(k) savings plan. The pension plan amendments will freeze service credit, but will continue to credit for the participant's salary increases over time. Grandfathered employees will remain in the current pension and 401(k) plans. (Logo:

As 401(k) Plan Sponsors Enter Economy-Fueled 'Termination Season,' RolloverSystems Offers 401(k) Plan Termination Services Suite

As 401(k) Plan Sponsors Enter Economy-Fueled 'Termination Season,' RolloverSystems Offers 401(k) Plan Termination Services Suite

401(k) Plan Fees: What Must Be Disclosed, to Whom and When?

Do you know all of the fees being charged to participants in your company’s 401(k) plan? Do you know what 401(k) plan fees your company is paying? Do you know how much compensation your company’s 401(k) plan recordkeeper and other service providers are receiving?

Congress mulls major 401(k) changes

A wide range of sweeping changes to the 401(k) system were proposed Tuesday at a hearing on how the market crisis has devastated retirement savings plans. Chief among them was eliminating $80 billion in tax savings for higher-income people enrolled in 401(k) retirement savings plans. This was suggested by the chairman of the House Committee on Education and Labor.

401(k)s Take On Traits Of Old Pensions

But taken together, they form a key larger trend. Now 401(k) plans are morphing in the direction of traditional pension plans. Huge differences remain between the two types of retirement programs. But 401(k)s are taking on some of traditional pension plans' leave-the-driving-to-us features.

401(k)s Take On Traits Of Old Pensions

But taken together, they form a key larger trend. Now 401(k) plans are morphing in the direction of traditional pension plans. Huge differences remain between the two types of retirement programs. But 401(k)s are taking on some of traditional pension plans' leave-the-driving-to-us features.

As 401(k) Plan Sponsors Enter Economy-Fueled 'Termination Season,' RolloverSystems Offers 401(k) Plan Termination Services Suite

PRNewswire/ -- RolloverSystems Inc. (RSI), an independent provider of rollover management services, is offering a suite of solutions to help advisors and plan sponsors easily and responsibly terminate their 401(k) plans, an occurrence which could be common due to economic woes this Fall, a time also known as "plan termination season."

Study: Too Many 401(k) Choices Can Lead to More Risky Investments

p>The typical 401(k) plan offered 18 funds choices last year. Savvy investors often relish the array of options and seek out the lowest fees and best returns. But for an inexperienced retirement saver, confusing terms, fine print, and seemingly indecipherable differences between mutual funds can seem daunting. And new research indicates that too many choices in a 401(k) may even lead inexperienced investors to take on more risk than they would with fewer options.

A Rutgers School of Business, University of Texas-Austin, and University of Pittsburgh study found that many employees without extensive investment knowledge will choose a heavier concentration of stocks in their portfolio when confronted with more fund options. A large fund assortment more than doubled investment in stocks among those less knowledgeable, from 29 percent t

Mandatory IRA, 401(k) withdrawal bad for retirees now

In 2005, nearly 5.5 million households were subject to mandatory withdrawal requirements for individual retirement accounts and 401(k) plans. The breakdown, by size of IRA or 401(k) balance:

Flawed 401(k) Laws Putting Retirement At Risk, Expert Says

Congress needs to reform flawed 401(k) laws that could push back retirement for millions of Americans whose savings have collapsed along with the stock market, a University of Illinois elder law expert says.

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