contribution

How much should you contribute to your 401(k)?

401(k) contribution matches could be scrapped in a recession

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In past recessions, many companies seeking to cut costs and potentially avoid having to lay off workers have suspended 401(k) matches. During the last recession, Ascensus, a pension plan administrator, said 21% of employers using its 401(k) services suspended their contributions from March to September 2020, the Wall Street Journal reported. Vanguard reported a much …

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To automatically increase or not to automatically increase your 401(k) contribution rate

To automatically increase or not to automatically increase your 401(k) contribution rate

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Over the past 30 years, there has been a significant revolution in the administration of 401(k) plans. Often referred to as auto-increase or auto-escalation, here’s how it works: if you’re automatically enrolled in a plan and don’t opt ​​out of the auto-increase feature, your rollover rate will increase over time, until the plan as much …

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