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IBM offers employees new retirement account that looks a lot like a pension. On Jan. 1, IBM put the brakes on its dollar-for-dollar 5% employee match in its 401 (k) plan and began providing most ...
Fidelity Investments. Fidelity Investments, formerly known as Fidelity Management & Research ( FMR ), is an American multinational financial services corporation based in Boston, Massachusetts. Established in 1946, the company is one of the largest asset managers in the world, with $4.9 trillion in assets under management, and, as of December ...
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.
It's no coincidence that retirement plan managers like the aforementioned Fidelity and Vanguard predominantly offer their own mutual funds as investment choices within a 401 (k) plan.
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.
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IBM has undergone a large number of mergers and acquisitions during a corporate history lasting over a century; the company has also produced a number of spinoffs during that time.
The number of people with $1 million or more saved in their 401(k) accounts leapt 10% from April to the end of June, according to Fidelity Investments.