contributions

Saving for Retirement — What’s a Woman to Do?

Posted on 08/14/2013 by |Money and Work | Comments

Bulletin Today | WorkIf we women don’t boost our retirement savings now, we may not be able to meet our daily financial needs when we leave the workplace for good, a new report says. Not only do we contribute less than men to our 401(k) accounts — 6.9 percent of pay, on average, compared with 7.6 percent for men — but we’re also more likely to default on loans we’ve taken from these plans. Fully 71 percent of women who left their jobs …

Average 401(k) Balances for 55-Plus: $255,000

Posted on 06/17/2013 by |Money and Work | Comments

Bulletin Today | Money & SavingsHell-o 401(k). So nice to see you increasing in value. Here’s hoping for a record second quarter just like the first. Strong employee/employer contributions and a rocking stock market boosted the average 401(k) balance during the first three months of the year. It hit $255,000 for participants age 55 and older who worked at their current employer for 10 years or more, according to a Fidelity Investments quarterly analysis of its 401(k) accounts, which had more than 12 million participants. …