A 55-year-old earning $60,000 with $600,000 in their 401(k) appears to be on cruise control: they max the $8,000 catch-up, ...
Many employers that sponsor 401(k) plans have adopted "automatic escalation." The mechanism automatically raises workers' savings rate over time. 401(k) investors should ideally save at least 15% of ...
WINDSOR, Conn.--(BUSINESS WIRE)--Voya Financial, Inc. (NYSE: VOYA), is sharing findings from a new field study conducted through the Voya Behavioral Finance Institute for Innovation focusing on ...
401(k) plan policies like auto-enrollment and auto-escalation have become popular. They aim to boost workers' retirement savings. Pioneering researchers found that the policies may be less effective ...
Two of the most widely used mechanisms to improve participation in 401(k) plans – automatic enrollment and automatic escalation of contribution rates – may be much less effective than previously ...
Beginning this year, businesses with 10 or more employees must implement automatic enrollment and contribution escalation for new 401(k) and 403(b) plans. Starting this year, SECURE 2.0 requires ...
Washington, D.C., Oct. 24, 2023 (GLOBE NEWSWIRE) -- A new report from MissionSquare Research Institute finds adoption of automatic enrollment features in state and local government defined ...
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