If the proposed rules are finalized, there would be no more suspension of deferrals after a hardship withdrawal or requirement to take a loan before one.
Tag: 401(k) plans
An analysis of participants who remained active in the same 401(k) plans from year-end 2010 through year-end 2016 shows their accounts balances more than doubled in that period.
(b)lines Ask the Experts –Limits When Contributing to Both For-Profit and Nonprofit Retirement Plans
In a SURVEY SAYS marking the 40th anniversary of the Employee Retirement Income Security Act (ERISA), the change to ERISA during the past 40 years that received the greatest percentage of votes for being the one that most helped participant retirement savings outcomes was the establishment of Section 401(k) qualified deferred compensation plans.
However, 20% said they do not understand the process for withdrawing money from their 401(k) in retirement, according to a Charles Schwab survey.
A lawsuit alleges that the defendants failed to take advantage of the plans' bargaining power by only offering actively managed retail mutual funds as investment options.
The revitalized programs now offer simplified investment lineups, affordable pricing and fiduciary support services.
It marked the second consecutive month of no above-normal trading, the first time this has occurred since May and June 2017.
In 2017, target-date funds (TDFs) represent 41% of CIT assets in 401(k) plans, Cerulli Associates finds.
Alight Solutions found a nearly $100,000 difference in 401(k) savings between participants who had loans outstanding and those who did not.
The financial firm will pay $6,900,000 in settlement.
A new law would raise the contribution limit for SIMPLE plans from $12,500 to $15,500 for the smallest businesses and give businesses with 26 to 100 employees the option of the higher limits.
The new law extends the time a participant has to repay loans from 60 days after an offset to the date their tax return is due.
The expense ratios 401(k) plan participants incur for investing in mutual funds have declined substantially since 2000, Investment Company Institute data shows.
Average individual 401(k), 403(b) and IRA account balances increased year-over-year, according to the latest cut of data from Fidelity’s book of retirement business, but the average dipped slightly from Q4 2017, reflecting market volatility and the fact that new small-balance savers entered the fold.
The latest book was expanded to include 401(k) fee information on plans with large participant account balances.