Wed
Apr 6 2022
11:38 pm
Big changes are coming to your 401(k)
By: jbr

The United States is on the brink of a retirement crisis. The primary savings tool for Americans -- your 401(k) -- isn't helping.

Less than 40% of lower-paid workers have retirement accounts, compared with 80% of middle- and upper-income families, according to Vanguard. Making a 401(k) plan more accessible doesn't help Americans who don't have money to save in the first place.

Big changes are coming to your 401(k). Here's what you need to know

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yellowdog's picture

No surprise

Submitted by yellowdog on Thu, 2022/04/07 - 11:52am.

When employers with unions began insisting on replacing regular defined benefit pensions with these other schemes, we knew how this would play out and not just in union shops. Shifting responsibility for funding and managing retirement to workers who are not paid enough to start with led us here.

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