Latest News for 401(k) Plans, Rollovers, IRAs & General Retirement & Investing

New Strategies to Shelter your Retirement Dollars - External Report
(August 17th, 2009)
Source: CNN Money
With a Roth, you don't get a tax deduction when you put money in, but the money in your account grows tax-free and - this is the key advantage - your withdrawals are tax-free, so you don't need to worry about what the tax rates will be or what bracket you'll be in when you retire. Until now Roths have had a big catch: income limits of $105,000 for individuals and $160,000 for joint filers. But starting in 2010 anyone will be allowed to convert existing retirement accounts to Roth accounts, making this key retirement tool available to everyone... (View Full Report)

Fidelity says Average 401(k) Retirement Balance rose 13.5% in Second Quarter
(August 17th, 2009)
Fidelity Investments, the country’s largest provider of retirement savings plans for employees reported last week that the average 401(k) retirement plan rose 13.5% in the 2nd quarter of 2009. In this report, Fidelity also released a report showing analysis of participant behaviour at different life stages and ages that is discouraging or preventing millions of Americans to save towards their retirement... (View Full)

Organizations Reconsider 401(k) Plan Matching Contributions for Employees
(June 25th, 2009)
Due to the current economic downturn, most organizations are reconsidering their matching contributions to employees’ 401(k) plans. In fact, it is estimated that every 1 out of 4 companies have temporarily suspended matching contributions for their employees’ 401(k) plans. These companies say however once the economy improves and so does their cash flow, they will reinstate 401(k) matching contributions for all employees. This piece of news comes from a latest survey done by the Charles Schwab. Among list of companies who have suspended 401k matching include Sears Holdings, Starbucks, Kodak and Hewlett Packard (HP)... (View Full)