403(b) – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Wed, 01 May 2024 19:00:57 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 47% of U.S. millennials are moderately confident they’ll save enough for retirement: survey https://www.benefitscanada.com/pensions/retirement/47-of-u-s-millennials-are-moderately-confident-theyll-save-enough-for-retirement-survey/ Tue, 09 Apr 2024 13:00:14 +0000 https://www.benefitscanada.com/?p=153983 Nearly half (47 per cent) of U.S. millennials are moderately confident in their ability to accumulate enough retirement savings, according to a new survey by software company Iralogix Inc. The survey, which polled more than 500 workers between the ages of 28 and 43, found 29 per cent said they have no confidence in their […]

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]]> Average U.S. 401(k) balance down slightly in Q3 2023, up over long term: report https://www.benefitscanada.com/pensions/cap/average-u-s-401k-balance-down-slightly-in-q3-2023-up-over-long-term-report/ Tue, 21 Nov 2023 14:00:27 +0000 https://www.benefitscanada.com/?p=147413 The average U.S. 401(k) balance decreased to $107,700 in the third quarter of 2023, down four per cent from Q2, but up by 11 per cent from a year ago, according to a new report by Fidelity Investments. Reflecting a combination of employee and employer 401(k) contributions, the total savings rate for the third quarter […]

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]]> 65% of U.S. employees cite flexible work as top compensation component: survey https://www.benefitscanada.com/news/bencan/65-of-u-s-employees-cite-flexible-work-as-top-compensation-component-survey/ Mon, 20 Nov 2023 20:00:44 +0000 https://www.benefitscanada.com/?p=147420 Two-thirds (65 per cent) of U.S. employees rank flexible work options as the No. 1 component of compensation beyond salary, down from 71 per cent in 2022, according to a new report by the Conference Board Inc. The survey, which polled more than 1,500 workers, found employees in hybrid (68 per cent) and fully remote […]

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]]> U.S. gen X workers falling short of retirement savings targets: report https://www.benefitscanada.com/pensions/retirement/u-s-gen-x-workers-falling-short-of-retirement-savings-targets-report/ Thu, 20 Jul 2023 13:00:27 +0000 https://www.benefitscanada.com/?p=141187 While more than half (55 per cent) of U.S. generation X employees participate in an employer-sponsored retirement savings plan, nearly two-thirds of men (62 per cent) and women (64 per cent) participating in these plans say they’ve saved less than 10 per cent of their retirement savings target, according to a new report by the […]

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]]> Nearly all U.S. workers say it’s important for employers to provide a retirement savings plan: survey https://www.benefitscanada.com/pensions/retirement/nearly-all-u-s-workers-say-its-important-for-employers-to-provide-a-retirement-savings-plan-survey/ Thu, 23 Feb 2023 14:00:59 +0000 https://www.benefitscanada.com/?p=134313 Nearly all (98 per cent) U.S. employees believe it’s important for their employer to provide a retirement savings plan, according to a new survey by Vestwell Inc. The survey, which polled roughly 1,300 employees and 250 employers, found nearly three-quarters (72 per cent) of employees said they expect employers to offer a 401(k) or 403(b) […]

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]]> 81% of U.S. public sector workers worry about retirement savings: survey https://www.benefitscanada.com/pensions/retirement/81-of-u-s-public-sector-workers-worry-about-retirement-savings-survey/ Tue, 07 Feb 2023 14:00:19 +0000 https://www.benefitscanada.com/?p=133460 The majority (81 per cent) of U.S. public sector employees worry whether they’ll have enough money to last them through retirement, according to a new survey by MissionSquare Research Institute. The annual survey, conducted alongside the International Public Management Association for Human Resources and the National Association of State Personnel Executives, also found just 41 per […]

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]]> Access to collective investment trusts will strengthen 403(b) retirement plans: report https://www.benefitscanada.com/canadian-investment-review/dc-investments/access-to-collective-investment-trusts-will-strengthen-403b-retirement-plans-report/ Wed, 06 Jul 2022 19:00:12 +0000 https://www.benefitscanada.com/?p=123913 U.S. employers offering 403(b) retirement plans will benefit from access to collective investment trusts, according to a report by the Defined Contribution Institutional Investment Association. It noted the latest version of the Securing a Strong Retirement Act passed the House in March and, if it passes through the Senate with language that allows institutional 403(b) […]

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]]> 38% of U.S. employees increased 401(k) contributions in 2021: survey https://www.benefitscanada.com/pensions/cap/38-of-u-s-employees-increased-401k-contributions-in-2021-survey/ Tue, 22 Feb 2022 20:00:18 +0000 https://www.benefitscanada.com/?p=117020 More than a third (38 per cent) of U.S. employees increased their 401(k) contributions by an average of three per cent in 2021, according to a new survey by Fidelity Investments Inc. By the end of 2021, 83 per cent of workers with a 401(k) received a contribution from their employer, with the average employer […]

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]]> More U.S. not-for-profit employees participating in retirement savings plans: survey https://www.benefitscanada.com/pensions/cap/more-u-s-not-for-profit-employees-participating-in-retirement-savings-plans-survey/ Wed, 20 Oct 2021 13:00:45 +0000 https://www.benefitscanada.com/?p=109861 Despite the coronavirus pandemic’s impact on the U.S. not-for-profit sector in 2020, employees participated in 403(b) retirement plans at the highest level since tracking began in 2008, according to a new survey by the Plan Sponsor Council of America. The survey, which polled roughly 400 not-for-profit retirement plan sponsors, found overall retirement plan participation rose to […]

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