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In 2012, MassMutual agreed to purchase The Hartford's Retirement Plans business, ultimately acquiring it January 1, 2013. This acquisition built on MassMutual's record retirement business growth, added complementary markets and distribution capabilities, and nearly doubled the number of retirement plan participants MassMutual served.
401 (k) In the United States, a 401 (k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401 (k) of the U.S. Internal Revenue Code. [1] Periodic employee contributions come directly out of their paychecks, and may be matched by the employer.
Examples of defined contribution plans include individual retirement account (IRA), 401 (k), and profit sharing plans. In such plans, the participant is responsible for selecting the types of investments toward which the funds in the retirement plan are allocated. This may range from choosing one of a small number of pre-determined mutual funds to selecting individual stocks or other ...
A 401 (k) plan is a tax-advantaged retirement savings tool offered by employers that allows eligible employees to contribute a portion of their salary up to a set amount each year.
Continue reading → The post Survey Shows Plan Sponsors Are Looking at 401(k) Fees appeared first on SmartAsset Blog. Saving for retirement is a key part of financial planning for most people ...
3. Don't leave your contributions as cash. Many 401 (k) retirement account plan managers will now automatically assign a generalized fund allocation for enrollees who don't make such a choice, but ...
John Hancock Financial is a financial services company offering insurance and investment products.
Empower is a retirement plan recordkeeping financial holding company based in Greenwood Village, Colorado, United States. [7] It is the second-largest retirement plan provider in the United States. [8]