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A 401 (k) plan is a tax-advantaged retirement savings tool offered by employers that allows eligible employees to contribute a portion of their salary up to a set amount each year.
But there are additional retirement plan options that you might consider in addition to your 401 (k), particularly if you are maxing out your contributions there.
Retirees typically get their income from Social Security and savings. For many, these two sources both fall short of providing what's needed. The average retirement account balance for retiree ...
A registered retirement savings plan ( RRSP) ( French: régime enregistré d'épargne-retraite, REER ), or retirement savings plan ( RSP ), is a type of financial account in Canada for holding savings and investment assets. RRSPs have various tax advantages compared to investing outside of tax-preferred accounts. They were introduced in 1957 to promote savings for retirement by employees and ...
The Federal Employees' Retirement System ( FERS) is the retirement system for employees within the United States civil service. FERS [1] became effective January 1, 1987, to replace the Civil Service Retirement System (CSRS) and to conform federal retirement plans in line with those in the private sector.
Consider long-term planning: Given the new rollover provisions to Roth IRAs, families can now consider using 529 plans as a dual-purpose savings vehicle for education and retirement.
In the final installment of my three-part series on retirement planning, I look at what to do if you are unemployed, self-employed, or otherwise unable to access a 401(k) or similar employer ...
But with the arrival of the 401k in 1978, workers took more control over their retirement savings — and the best candidates began expecting more from their employers.