Tag: 401k
Currently IRAs don’t increase retirement saving; balances are rollovers from employer plans. Individual Retirement Accounts (IRAs) were introduced in 1974 under the Employee Retirement Income Security Act. The goal was to enable those without pension coverage in employer-sponsored plans to save in a tax-deferred fashion. IRAs now hold almost half of total private retirement assets,…
If employers want to improve the poor retirement prognosis for a large chunk of American workers, there are some obvious things they could do. That’s the big takeaway in Morningstar Inc.’s new report on employers that offer 401(k) plans to their employees but don’t do what’s required to encourage them to save enough. During t…
