Posts in Saving for Retirement
Who is Eligible To Make 401(k) Plan Catch-up Contributions

"A catch-up contribution is an elective deferral made by a participant age 50 or older that exceeds a statutory limit, a plan-imposed limit, or the actual deferral percentage test limit for highly compensated employees."

This piece offers a concise discussion as to which parties are eligible to make a catch-up contribution to a 401(k) plan.

Click here to learn more about catch-up contributions and rules on eligibility.

Source: EisnerAmper

Timing Social Security: A (Very Personal) Review of Claiming Calculators

"Is there any financial decision more complicated, far-reaching and irrevocable than when to file for Social Security retirement benefits? There is an optimum filing strategy that will maximize lifetime benefits—and reduce longevity risk—for every individual or couple. But analyzing hundreds of scenarios to identify that strategy is dizzying." Click here to read more.

Source: Wealth Management.com

Brightscope and ICI Release Latest Edition of Comprehensive 401(k) Study

“One of the strengths of the 401(k) system is that it allows employers to customize their plans to meet the needs of their unique workforces,” said Sarah Holden, ICI’s senior director of retirement and investor research. “Employers use that flexibility to offer features that can encourage participation. Employer contributions, auto-enrollment, loans, and diverse investment options—including target-date funds—can make it easier for 401(k) participants to plan and save.” Click here to read more.

Source: BrightScope