In 2007, in defined contribution accounts administered by Vanguard, the median account balance for 55 - 64 year - olds was just $ 60,740 and only 10 % of participants contributed the maximum amount. (mauldineconomics.com)
Prior to the payment of a survivor benefit, survivors of Combined Plan members must agree to transfer both the deceased member's employer contributions and individual defined contribution account to the Traditional pension Plan for payment of benefits. (opers.org)
Earlier this month, both the Senate and the House introduced bipartisan legislation to amend the Employee Retirement Income Security Act that would mandate annual income disclosures on 401 (k) and other defined contribution account documents. (indexologyblog.com)