401K » Retirement Plans

Some workers with 401(k) plan accounts might be able to look forward to reductions in their plan fees thanks to new federal disclosure rules. In addition to increased fee visibility, the new disclosure rules are expected to allow companies to provide their workers with a vast selection of investment options.

401(k) Plan Disclosure Rules to Clarify Costs

The Department of Labor issued a new regulation on Monday designed to improve access to expert advice for workers who contribute to 401(k) plans and individual retirement accounts (IRAs). The regulation is expected to make it easier for providers to offer their own investment advice for individual accounts, and allows them to even bundle  investment advice together with other retirement services.

Employers Can Provide Investment Advise on 401(k) and IRA Plans

According to an announcement this week by the Internal Revenue Service, individuals contributing to their 401(k), along with other retirement plans, will be able to add more tax-free money to their accounts next year. The contribution limit for employees participating in these retirement programs will increase to $17,000 for the tax year 2012.

401(k) Retirement Contribution Increases for First Time Since 2009

Savers who rely on 401(k) loans may soon be limited in the money they can borrow against their accounts. New legislation introduced by two senators on Wednesday is designed to counter the erosion of retirement assets by reducing the number of loans account holders can take out.

Americans Treating 401(k)s Like Rainy-Day Funds

A new report released by Fidelity Investments revealed the average 401(k) account balance in the U.S. reached a record high of $74,900 as of March 31. According to the report released on Wednesday, the increase was largely attributed to a rebounding economy and stock market gains.

Stock Market Gains Contribute to 12-Percent 401(k) Balance Increase

Aside from medical insurance, 401k plans are one of the best benefits an employer can offer their employees. 401k plans offer employees a way to save up for their retirement with tax-deferred contributions. Additionally, if the employee has to file for bankruptcy, the 401k money is protected from creditors staking their financial claims against their losses. To sweeten the deal even more, many employers actually match their employee’s contribution to their 401k plans, thus providing them with additional monetary perks to their job.

Employer Contributions

The average 401(k account balance showed a significant increase at the end of 2010, according to a new study released by Fidelity Investments. On average, accounts held $71,500 during the year, which was the highest average account balance revealed by Fidelity in 10 years.

Accounts Up 11 Percent from 2009

There are quite a few financial deadlines to remember over the course of 12 months and it’s probable you’ve missed one or two in the past. Are you familiar with the sense of panic that accompanies waking up on April 15th and realizing you haven’t started your taxes? Did you forget to max out your retirement account contributions last year? If you need some assistance remembering all your important 2011 budget and planning dates, here’s a quarterly calendar to keep you on track.

Q1 2011 (January-March)

Hello, 2011! You sure got here quick.

A new year is upon us, and with it comes a mix of hope and uncertainty. Looking back at 2010, the previous year certainly had its share of good and bad, yet all things considered, the economy has made a lot of progress from being on the verge of collapse just a few years ago to making its current climb–albeit slow and uneasy–back to recovery.

The Federal Reserve and the Obama administration seem committed to jump-starting the economy, whether or not the rest of the population will follow will be the biggest ongoing development of 2011. Here’s a look into a few of the key 2011 predictions and areas that will determine whether your money has a good year, or one that leaves more to be desired.

While 2010 marked the end to a very fascinating decade, the year itself did have its own shares of ups and downs. Looking back at some of the biggest 2010 stories, you’d see the economy and stock market carried over some momentum from last year’s recovery effort, and the recession was declared officially over. On the other hand, unemployment still hovered around 10 percent, the housing market failed to bounce back and Americans are slowly starting to spend again.

There were also major cultural events that didn’t really a direct personal finance impact on 2010, but did take hold of the nation’s attention. You may remember the NBC late night fiasco where Jay Leno and Conan O’Brien tussled over The Tonight Show. There was Avatar, which led to a flood of 3-D movies. The Apple iPad was introduced, and Larry King abdicated his throne on CNN.