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Nearly 70 % of Americans working in the private sector had access to employer-sponsord retirement plans as of March 2022, according to the Bureau of Labor Statistics. However, only 52% of private ...
The impact of automatic enrollment. By year-end 2023, 59% of Vanguard retirement plans had adopted automatic enrollment, up from 56% in 2021 and nearly double the number a decade ago.
A 401(k) can be a great way to save for retirement, but a few wrong decisions can derail your progress. Fortunately, it only takes a little planning to avoid the biggest 401(k) mistakes.
A new provision in the Secure 2.0 legislation, which will go into effect in 2025, requires that 401(k) or 403 (b) plans allow a long-term part-time employee to participate in the plan, if that ...
In 2024, an individual employee can contribute up to $23,000 in the 401(k), 403(b), and most 457 plans, as well as the federal government's Thrift Savings Plan. That's a $500 increase from 2023.
The average 401(k) balance rose to $107,700 by the third quarter of 2023, up 11% from the year before, according to the latest update from Fidelity Investments, one of the largest retirement plan ...
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