Plan participants contributed an average of 7.6% percent of their pay to workplace retirement plans in 2019, according to the results of a survey by the Plan Sponsor Council of America. Plan sponsors contributed an average of 5.3% of employees' pay, which brought the total average savings rate to 12.9%.
The annual survey, the group’s 63rd, found that more than 90% of eligible employees had an account balance in 2019 and 87.3% made contributions.
The survey also found that Roth contributions are now permitted in three-fourths of plans, up from 69.1% in 2018, and that 80% of plans offered a target-date fund, up from 68.6% in 2018.
In addition, 40% of plans now offer a professionally managed investment alternative to participants, up from 36.3% in 2018, and nearly 60% now offer plan access via mobile technology, up from 47.5% in 2018.
Fewer than 10% of plans offer annuities and just 3% include socially responsible investing options.
Short sellers previously said the company was under investigation, though Roblox denied allegations.
The Consumer Financial Protection Bureau is in the crosshairs of the Republican group that is widely attempting to dismantle government agencies.
National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.
Recent data support a measured pace by the Federal Reserve for the year ahead.
Financial advisors are still adding alternatives despite the surge in publicly traded stock prices
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