401(k) Plans and Retirement Savings: Issues for Congress
DIANE Publishing, Apr 1, 2011 - 28 pages
Over the past 25 years, defined contribution (DC) plans including 401(k) plans have become the most prevalent form of employer-sponsored retirement plan (ESRP) in the U.S. The majority of assets held in these plans are invested in stocks and stock mutual funds. The decline in the major stock market indices in 2008 greatly reduced the value of many families' retirement savings. Contents of this report: New Challenges to a Secure Retirement Income; Access to ESRP; Participation in ESRP; Contributions to Retirement Savings Plans; Investment Choices and Investment Risk; Fees and Fee Disclosure; Leakage from Retirement Savings Plans; Converting Retirement Savings into Income. Charts and tables. This is a print on demand report.
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100 employees 111th Congress 25th percentile account balance annuities automatic enrollment automatic trial income Bureau of Labor Consumer Finances contribution rates contribution to DC Converting Retirement Savings CRS Report defined contribution plans employee contribution employee’s employees at small employer-sponsored retirement plans ERISA Federal Reserve Board’s firms with 500 hardship distribution headed by persons Hewitt Associates Household Contributions households headed invested in stocks investment advice investment choices investment education investment losses Labor Statistics leakages from retirement life-cycle funds loan longevity risk married couples median monthly contribution National Compensation Survey nondiscrimination tests offered a DC offered a retirement participant’s participated in DC Participation in Employer-Sponsored participation rate Patrick Purcell payroll deduction IRAs percentile of contributions plan sponsors purchase retirement accounts Retirement Income Richard Neal savings into income small employers small firms stock mutual funds stocks and stock take-up rate target date funds top income quartile U.S. Department workers participated