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Rating. Fitch: AA (2020) Moody's: Aa3 (2020) S&P: AA (2020) AM Best: A+ (2020) Website. empower .com. 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.
Putnam Investments is an investment management firm founded in 1937 by George Putnam, who established one of the first balanced mutual funds, The George Putnam Fund of Boston. Headquartered in Boston, Massachusetts, it has offices in London, Tokyo, Frankfurt, Sydney, and Singapore. [2] Putnam is currently a subsidiary of Franklin Templeton ...
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A stable value fund is a type of investment available in 401 (k) plans and other defined contribution plans as well as some 529 or tuition assistance plans. [1] Stable value funds are often made available in these plans under a name that intends to describe the nature of the fund (such as capital preservation fund, fixed-interest fund, capital ...
Most participants are contributing small amounts of money to their 401(k) plans.Data in the Bank of America 2023 Financial Life Benefits Impact Report shows 66% of participants contributed less ...
The bank found that 0.59% of 401(k) participants took a hardship distribution last quarter, up from 0.52% in the second quarter and 0.49% the year before. According to the IRS, ...
As high inflation persists, more Americans have been taking hardship withdrawals from their 401(k) plans.A recent Bank of America study found that the number of its 401(k) participants taking ...