Smart 401(k) Investing ( http://www.nasd.com/Investor/Smart/401k/ ) pulls together a plethora of information on 401(k) plans and outlines the different options and special features that should be considered when investing in 401(k) plans. The learning center was rolled outto help the more than 47 million 401(k) plan participants better understand their plans and other retirement options and to educate those who may not yet have begun to save for retirement, according to a news release.
NASD says the tool has applications to help 401(k) investors at any stage of the their life:
- enrollment process guides
- suggestions on managing a 401(k) account
- questions and answers on topics such as401(k) investment options; asset allocation and diversification; moving a 401(k) when changing jobs; handling withdrawals after retirement.
Additionally, Smart 401(k) Investing provides a number of interactive tools, including a Minimum Required Distribution Calculator that allows the user to calculate the amount of money the law requires investors to withdraw from their 401(k), or traditional IRA when they reach 70 1/2. By inputting the investor’s age and account balance, the calculator determines the required withdrawal factor, minimum required distribution (MRD), and the required rate of return needed for the next year to maintain an account balance following a withdrawal.
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