Tag

401(k)

Brenda Jacobs
In Brenda Jacobs, General Articles

Millennials Flock to 401(k) Plans

Tom Anderson, in a recent article published on CNBC, discusses how more millennials are investing in 401(k) plans. While younger employees benefit the most from participating in 401(k) plans, historically, they have been the least likely to participate.

The Bank of America Merrill Lynch analysis reported that 64% more employees between ages 18 and 34 started contributing to 401(k) plans than in 2013.

This growth in participation, according to the article, can be attributed to:

  • Improvements in the economy and job market
  • Rise of auto-enrollment and new streamlined sign-up processes
  • Greater financial education in the workforce
  • High influence of Baby Boomer parents who had not saved as much for retirement

To view the entire article, click here. For more information on 401(k) plans or employee benefit plans, please contact Brenda Jacobs at bjacobs@brickleydelong.com or (231) 726-5880.

Brickley DeLong is a West Michigan Accounting Firm, offering personalized accounting services with offices in Muskegon, Hart, and Grand Rapids, Michigan. 

Brenda Jacobs
In Brenda Jacobs, Employee Benefit Plans, General Articles, Industry News

Supreme Court Decision on Tibble v. Edison, 401(k) Lawsuit

On Monday, May 18, the U.S. Supreme Court came to its decision on Tibble v. Edison, a 401(k) lawsuit filed initially in 2007.  This lawsuit was brought on by employees against their employer’s 401(k) plan because of its high fees. Darla Mercado, in an article published in InvestmentNews, discusses the importance of the decision on this case, which confirms the responsibility for plan sponsors to periodically review fund performance, fee policies, quality of providers, etc.

Please read the full article about Tibble v. Edison at Investment News.

For more information on Brickley DeLong 401(k) plans or employee benefit plans, please contact Brenda Jacobs at (231) 726-5880 or bjacobs@brickleydelong.com

 

Brickley DeLong is a West Michigan Accounting Firm, offering personalized accounting services with offices in Muskegon, Hart, and Grand Rapids, Michigan.