Obama Floats New Options for Retirement Savings

Small businesses would be able to band together to create a joint 401(k) retirement plan, and some part-time workers could participate in their employer’s plan, under proposals to be included in President Obama’s final budget to Congress. An outline of these and other proposals to expand access to retirement accounts to more than 30 million people was released Jan. 26. More details, along with cost figures, will be available when the president submits his budget next month. Enter Fearless at …

What to Do With That Old 401(k) Retirement Account

Bloomberg News recently wrote about brokers profiting by advising retirees to roll their 401(k) accounts into IRAs. Many of the retirees interviewed said they lost a lot of their savings from investments subsequently recommended to them. But this doesn’t mean you shouldn’t consider transferring your 401(k) money into an individual retirement account (IRA). Here’s how to decide: First, a little background. A 401(k) account is an employer-sponsored plan that allows the employee to save and invest, typically receiving a tax benefit when the contribution is …