retirement

Growing Interest in After-Tax Contributions to 401(k) Plans
Team SummitEmployee Outcomes, Employer Resource Center, Fiduciary GovernanceComments are off for this post
Voluntary after-tax contributions (not to be confused with Roth contributions) are just what they sound like. These contributions are made in after-tax dollars and the taxes on the earnings are deferred until the year of distribution. Many 401(k) plans still do not allow voluntary after-tax contributions because there has been, historically, little interest from participants.  Read More →
Customized Content is Good Medicine for Retirement Readiness
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
From recent college grads struggling with student debt to seasoned professionals planning an imminent retirement, participants’ financial needs and goals are as diverse as the workforce they’re part of. In response, many organizations have chosen to implement a multi-faceted financial wellness offering. According to the 2022 PLANSPONSOR Recordkeeping Survey, four in 10 recordkeepers have an  Read More →
A More Nuanced 4% Rule?
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
In December 2022, Morningstar adjusted its recommended starting annual withdrawal rate for balanced retirement portfolios upward from 3.3% to 3.8%. The revision was based on an assessment of factors including recent equity valuations, bond yields and inflation. This new rate, however, is still less than the 4% figure commonly cited in financial planning literature. The  Read More →

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