401(k) – Benefits Canada.com https://www.benefitscanada.com Canada's most influential pension and benefits publication for decision-makers Thu, 21 Nov 2024 16:43:00 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 2024 Top 40 Money Managers Report: To divest or engage? https://www.benefitscanada.com/archives_/benefits-canada-archive/2024-top-40-money-managers-report-to-divest-or-engage/ Fri, 15 Nov 2024 13:57:39 +0000 https://www.benefitscanada.com/?p=162546 With 15 different client organizations, including nine public sector pension plans, the Alberta Investment Management Corp. has opted to engage, rather than divest, from certain investments, particularly those in the energy sector. “One of the things we were very clear on, both for ourselves and in talking to clients, is that divestment wasn’t the way […]

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]]> Wall Street rally helped boost 401(k) gains in first half of 2024: report https://www.benefitscanada.com/canadian-investment-review/dc-investments/wall-street-rally-helped-boost-401k-gains-in-first-half-of-2024/ Thu, 05 Sep 2024 19:00:17 +0000 https://www.benefitscanada.com/?p=159798 Strong growth for stocks on Wall Street this year have helped juice gains for savers with retirement accounts. The average 401(k) plan balance stood at US$127,100 at the end of the second quarter, an increase of 13 per cent from the same period last year, according to data from Fidelity Investments drawn from 24 million […]

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]]> What can the Canadian pension industry learn from U.S. CAP litigation? https://www.benefitscanada.com/archives_/benefits-canada-archive/what-can-the-canadian-pension-industry-learn-from-u-s-cap-litigation/ Fri, 09 Aug 2024 12:53:28 +0000 https://www.benefitscanada.com/?p=158574 While lawsuits against Canadian capital accumulation plans are virtually non-existent, U.S. pension litigation holds several lessons for plan sponsors that are based north of the 49th Parallel. “We don’t have these lawsuits occurring [in Canada], but it does help us educate our [plan sponsor] clients in terms of what trends may be because whatever happens […]

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]]> Dollar cap matching could more equitably distribute 401(k) contributions, reduce plan sponsor costs: report https://www.benefitscanada.com/pensions/cap/dollar-cap-matching-could-more-equitably-distribute-401k-contributions-reduce-plan-sponsor-costs-report/ Tue, 11 Jun 2024 13:00:00 +0000 https://www.benefitscanada.com/?p=156675 Dollar cap match formulas could distribute employer contributions to 401(k)s more equitably than other common match formulas, according to a new report by Vanguard Inc. The report analyzed more than 1,300 large employer-sponsored plans that are record-kept by Vanguard between 2013 and 2022. It found among two-thirds of plans, employer contributions exacerbate pay inequity and […]

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]]> Top 5 HR, benefits, pension and investment stories of the week https://www.benefitscanada.com/news/bencan/top-5-hr-benefits-pension-and-investment-stories-of-the-week-82/ Fri, 10 May 2024 13:00:43 +0000 https://www.benefitscanada.com/?p=155524 An article on the federal government’s financial sanctions against the Canada Life Assurance Co. following delayed benefits access for public employees was the most-read article on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Canada Life facing gov’t financial sanctions following delayed benefits access for public […]

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]]> What can Canadian DC plans learn from U.S. pension legislation? https://www.benefitscanada.com/events/conference-coverage/what-can-canadian-dc-plans-learn-from-u-s-pension-legislation/ Fri, 10 May 2024 11:52:09 +0000 https://www.benefitscanada.com/?p=154823 Features such as automatic enrolment in 401(k) savings plans are helping U.S. employees become retirement ready, said Mark Iwry, a non-resident senior fellow at the Brookings Institution and a former senior advisor to the U.S. Secretary of the Treasury for national retirement and health policy, during a session at Benefits Canada’s 2024 Defined Contribution Plan […]

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]]> How the ‘father of the 401(k)’ is still helping employees find retirement security https://www.benefitscanada.com/news/bencan/how-the-father-of-the-401k-is-still-helping-employees-find-retirement-security/ Wed, 08 May 2024 13:00:28 +0000 https://www.benefitscanada.com/?p=155225 More than 40 years after Ted Benna conceived of what’s now known as the modern defined contribution pension plan structure, the so-called ‘father of the 401(k)’ is still trying to create a retirement savings plan that’s accessible for employees at all income levels. While working at Johnson Cos. in September 1979, Benna found a way […]

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]]> 52% of U.S. private sector workers with employer-sponsored retirement plans say they contribute: survey https://www.benefitscanada.com/pensions/retirement/52-of-u-s-private-sector-workers-with-employer-sponsored-retirement-plans-say-they-contribute-survey/ Mon, 29 Apr 2024 19:00:05 +0000 https://www.benefitscanada.com/?p=154917 While more than two-thirds (69 per cent) of private sector workers in the U.S. have access to an employer-sponsored retirement savings plan, just half (52 per cent) of these employees says they choose to participate, according to a new survey by GOBankingRates.com. The survey, which polled 1,000 workers, found more than a quarter (28 per cent) […]

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]]> 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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]]> 55% of Americans worry they won’t have financial security in retirement: survey https://www.benefitscanada.com/pensions/retirement/55-of-americans-worry-they-wont-have-financial-security-in-retirement-survey/ Fri, 01 Mar 2024 14:00:02 +0000 https://www.benefitscanada.com/?p=152495 More than half (55 per cent) of Americans say they’re worried they won’t achieve financial security in retirement, according to a new survey by the National Institute on Retirement Security. The survey, which polled more than 1,200 individuals aged 25 and older in the U.S., found more than three-quarters (79 per cent) believed there’s a retirement […]

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