401(k)

A Retirement Reality Check, Courtesy of Gallup

Posted on 05/23/2013 by | Who's News | Comments

Bulletin Today | Money & SavingsThinking about your eventual retirement? If you’re relatively well-off, you’re probably confident that your tax-deferred savings will provide your major source of income. But if you’re at the other end of the income ladder, you’re more likely to count on Social Security benefits to tide you over. Those are some of the findings of a newly released Gallup poll that reveals glaring contrasts between how nonretired Americans from different income levels expect to fund their retirement years. The key takeaways: Among …

Retirement Crisis: Are We There Yet?

Posted on 05/23/2013 by | AARP Blog Author | Comments

Public Policy InstituteIt seems like you can’t open up a newspaper (or twitter feed) without reading about the impending “retirement crisis.”  The word crisis, used to describe so many things, may get the public’s attention, but is it accurate?   Many retirees today struggle to make ends meet and others face dire situations triggered by job loss or unexpected health expenses.  But the prospect of a broader retirement crisis depends on your frame of reference. Because of the protections Social Security provides, …

IBM Shifts 401(k) Policy to Once-a-Year Matches

Posted on 12/8/2012 by | General News | Comments

Bulletin Today | Money & SavingsBy Mark Jewell and Steve Rothwell, Business Writers, The Associated Press IBM is making changes to its employee benefits that may cause other large corporations to follow suit. The technology company will begin making contributions to employees’ 401(k) accounts in lump-sum annual payments, rather than at the time of each paycheck. It’s a move that will help the company cut retirement plan expenses. Employees were notified this week that matching contributions will be made just once annually, on Dec. 31, …

The Takeaway: Anxious Investors Day Trading Retirement Savings

Posted on 07/9/2012 by | Brooklyn, NY | Comments

News RoundupsWhile most Americans with 401(k)s or individual retirement accounts embrace a “set it and forget it” philosophy, some anxious retirement savers are getting increasingly aggressive with their investments, according to the Los Angeles Times. Worried about the toll the past decade has taken on their savings, Americans nearing retirement are day trading mutual funds and stock options in a bid to make up for lost time.

The Takeaway: 401(k) Fees Reduce Savings by 30 Percent, Says Study

Posted on 05/31/2012 by | Brooklyn, NY | Comments

News RoundupsHmmm … 401(k) plans can help you save money for retirement, but they many also cost you more than you realize. According to a new study from research firm Demos, the average American couple pay nearly $155,000 in 401(k) fees in the course of building up their proverbial nest egg; wealthier couples could pay nearly $278,000. These fees can reduce 401(k) savings by an average of 30 percent.

The Takeaway: Older Americans Feel Better About Their Money

Posted on 05/22/2012 by | Brooklyn, NY | Comments

News RoundupsSo much of the financial news about older Americans is downbeat. More of them are falling into poverty.  A disproportionate number of older workers lost jobs in April. Will they get new ones? Don’t hold your breath. At last, welcome news: a Gallup survey finds that Americans ages 75 and older are the most likely (72 percent) of all age groups to say they feel good about the amount of money they have. Not only that, they’re the most likely …

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