Tag: 401k
Catch-up provisions had only a modest impact on saving. Under current law, individuals can contribute up to $18,000 per year to a 401(k) plan and those 50 and older can make an additional catch-up contribution of $6,000. Despite the fact that less than 10 percent of participants are constrained by these ceilings, many suggest that…
Private sector guys have a good idea. A recent report by the U.S. Government Accountability Office – 401(k) Plans: Greater Protections Needed for Forced Transfers and Inactive Accounts – documented the problems associated with small 401(k) accounts. The first problem is forced transfers. Millions of Americans leave their jobs each year and fail to specify…
