Commentary President Joe Biden’s going after 401(k) retirement accounts, risking millions of workers’ comfortable retirements. If you put money into a 401(k), beware. Until now, the law always required fund managers entrusted with your savings to invest the money where it’s expected to get the top return for you. Period. But on Nov. 22, Biden’s…

News Analysis Fretting over your 401(k) lately? For all the current turbulence in these retirement plans—from their rocky recent market performance to asset managers’ politicization of their investments through the “environment, social and governance” agenda—the main problem lies in their flawed design decades ago, a range of retirement experts say. They say many retirees—particularly the…

The Internal Revenue Service (IRS) on Friday announced it would raise the 401(k) contribution limit by a record 9.8 percent amid decades-high inflation. Starting in 2023, Americans can contribute as much as $22,500 into 401(k), 403(b), the federal government’s Thrift Savings Plan, and most 457 retirement plans, according to the IRS’s announcement. That’s $2,000 more…

Any 401(k) can help you save for retirement. A great 401(k) allows you to save a whole lot more. The difference between a mediocre plan and a great one could translate into tens of thousands of dollars in future retirement money. Plus, a 401(k)’s quality can show how serious a company is about attracting and…

If you have a 401(k) through your employer, you have a good way to prepare for retirement. It is even better if your employer is giving you matching contributions. This fact alone can make investing in a 401(k) a worthwhile investment. Still, there are some things you need to think about before maxing out your…

What springs to mind when you think of investing? You probably envision Wall Street and the frantic pace of the New York Stock Exchange floor. There are some of you who may visualize Fortune 500 ticker symbols. You could also think of the less exciting pie chart on your annual mutual fund report if you’re…

Like many retirees, Jesus Nunez knew he was due a pension but was having a hard time tracking it down. Now 66, the Burbank, Illinois, resident had worked as a painter and garage worker for the Checker Taxi Co. Inc from 1978 to 1986 and then another year for its successor concern. But when Checker Motors…

There was a time when workers could depend on an employee pension plan and Social Security to cover their retirement expenses. ‌Nowadays, pensions are ‌scarce. And, the future of Social Security is murky at best. Maybe this is why one in four Americans haven’t saved anything for retirement. And, those that did, aren’t saving enough. But, it doesn’t have to be this…

If you have been saving for retirement using a 401(k), you may be surprised at what you see on your next statement. The new “lifetime income illustrations” could leave you very disappointed. You also may want to make some adjustments based on what you learn from the new information. SECURE Act Provisions In 2019, when…

A 401 (k) plan is a great place to borrow funds for a short-term emergency or large purchase. However, there are pros and cons to doing this. And in some instances, there are risks. What Is a 401(k) Loan? A loan from your 401(k) is not a true loan. There isn’t a lender, and you…