When Marc Spirn took a close look at retirement-plan costs at his Philadelphia-based medical office, they were so high he helped the business change 401(k) providers and save about $30,000 a year.
Retirement savings in the U.S. may swell to $4 trillion over the next four years and the nation’s largest banks are angling for a bigger share of that money.
It should be easier for employers to include annuities in their retirement plans because Americans are at risk of outliving their savings, insurers told Labor and Treasury department officials today.
Workers will be limited in tapping their 401(k) retirement plans for loans under legislation two senators introduced today that’s designed to counter the erosion of retirement assets.
Wal-Mart Stores Inc. , the largest U.S. private employer, plans to end profit-sharing contributions in February, replacing them by matching some of the dollars employees put in their 401(k) retirement plans to pare expenses.
"When they sign up and add XYZ mutual fund, that's not a lifetime commitment."
- David Wray on Feb 02, 2012