For the minority of retirement savers, 401(k) plans will provide great income in retirement.
Recent analysis by the Government Accountability Office shows Americans in the highest income quartile, 81 percent of whom have some assets in a defined contribution plan, will generate an average of nearly $6,400 a month throughout retirement, were their 401(k) assets to be annuitized.
GAO's study, prepared at the request of Sen. Patty Murray, D-Washington, breaks down 401(k) savings accumulations by income quartiles and racial demographics.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
