According to data from the Milliman 100 Pension Funding Index, the pension deficit is below $100 billion for the first time in five years as the funded status increased by $34 billion during November.
The savers credit helps offset part of the first $2,000 workers voluntarily contribute to IRAs and to 401(k)s and other defined contribution plans at their workplace.
The Seventh Circuit Court of Appeals is allowing 170,000 Boeing employees and retirees to proceed to a resolution of their claims that the 401(k) plan had excessive fees and imprudent investment options.
The end of the year is a good time for retirement plans sponsors to take a moment to review their offerings and make certain that business plans and operations strategies are set in place for 2014.
For pre-retirees with limited assets, delaying retirement, being strategic about when they claim their Social Security benefits and reducing spending may be the only options for improving retirement readiness, the Society of Actuaries says.