If you are in the market for
a new workplace retirement plan, I recommend you evaluate all three options before you decide to sponsor a 401 (k) plan.
Not exact matches
In the case of
retirement savings, for example, a nudge that prompted
new employees to indicate their preferred contribution rate to a
workplace retirement - savings
plan yielded a $ 100 increase in employee contributions per $ 1 spent on implementing the program; the next most cost - effective strategy, offering monetary incentives for employees who attended a benefits fair, yielded only a $ 14.58 increase in employee contributions per $ 1 spent on the program.
Individuals who have changed jobs or retired and have left savings in a former employer's
plan may be eligible to roll
retirement savings to their
new employer's
workplace savings
plan (i.e., 401 (k), 403 (b), governmental 457 (b)-RRB- or to an IRA.
MyRA, a relatively
new retirement savings vehicle intended for folks who don't currently have a
workplace retirement plan, is being wound down, according to a July 2017 announcement from the U.S. Treasury.
Fidelity Investments reported 784
new plan sponsors joined the Fidelity Portfolio Advisory Service at Work (PAS - W) program — the company's proprietary managed account offering for
workplace retirement accounts — during 2013.
Two
new proposals, plus a groundswell of support for the idea both on and off Wall Street, suggest that we may see real movement toward expanded
workplace retirement plans.