Tag: DC retirement plan
Retirement for workers in state, county and municipal government fits a certain picture: a regular monthly pension payment awaits them. But there are important exceptions, which a recent study has filled in. A small minority of public sector workers get some or all of their retirement benefits in the form of a one-time cash payment…
The brief’s key findings are: 401(k)s/IRAs have the potential to provide significant wealth. But a typical 60-year-old with a 401(k) in 2016 had less than $100,000 compared to a potential $360,000 in combined 401(k)/IRA assets. Four factors could explain this gap: the immaturity of the 401(k) system, the lack of universal coverage, leakages, and fees…
