Tag: employer match
The Social Security program was designed to support lower-income retirees more by replacing a larger share of their past earnings than higher earners receive. But the subsidies that encourage workers to save for retirement tilt in the opposite direction. For this reason, White workers – who tend to earn more than Blacks and Hispanics –…
How unusual is a 10-percent 401(k) contribution – with no required employee contribution? A reporter asked recently what I thought of the new 401(k) contribution rate in the United Auto Workers (UAW) agreement with Ford, General Motors, and Stellantis. The companies have agreed to increase their 401(k) contributions from 6.4 percent 10 percent of pay…
