401(k)

There are many misconceptions that can lead to financial hardships in retirement.

The high court agreed to use an appeal to consider tightening the deadlines for lawsuits over the investments made by worker retirement plans.

The legislation includes a provision that would raise the age limit for making contributions and taking required minimum distributions.

Plan participants should consider boosting their contribution rates if they are planning for an early retirement, says one expert.

Although taxes on traditional 401(k) contributions are deferred, distributions will be subject to ordinary income taxes in retirement.

Workers say they are less satisfied with their defined contribution plans and would like to see more investment options.

“If you only focus on student loans, then you’ve lost 10 years of retirement planning,” says one expert.

An average couple aged 65 who are about to retire this year will need $285,000 to cover healthcare expenses.

Workers say they are less satisfied with their defined contribution plans and would like to see more investment options.

In addition to increasing the age limit for required minimum distributions, the bill also makes it easier for employers to unite and form joint retirement plans.