The primary goal of retirement plans is to provide income at retirement, but defined contribution plans have been permitted to make some distributions while participants are employed. The most common form of distribution to participants who are younger than age 59 ½…
Are plan fiduciaries protected from excessive fee lawsuits just because they offer participants a menu of investment funds that includes some low-fee investment choices? Or are plan sponsors and other fiduciaries required to do more than that?
With Americans living longer and retiring later, saving for retirement has become more important than ever. Yet, too many employees are still not covered by employer plans, and most of those who are covered don’t contribute enough for a stable retirement.
Saving for a secure retirement may seem simple – you put away a certain amount with each paycheck and let it grow until you retire.
Many studies have shown that Americans are not saving enough for retirement. A surprising number of employees still do not even have access to a 401(k) savings plan.