The shift from the traditional defined benefit plan to the 401(k) plan as the primary retirement plan structure is continuing to evolve and gaining momentum as employers in increasing numbers are electing to terminate defined benefit plans and reallocate contributions to their 401(k) plans.
With this change employees have lost a critical component of retirement income, namely the "income for life" benefit, inherent in defined benefit plans. This benefit along with social security income and personal savings have historically provided the foundation for the traditional 3 legged retirement stool.
Numerous surveys have consistently revealed that the single most important retirement concern for employees is of outliving their assets. In fact, in one recent survey, when asked if they would invest in an "income for life" annuity option 75% would do so if one were offered through their 401(k) plan.
Have a specific question regarding a challenge regarding your 401(k) plan? Ask, and we can help provide you with an answer.
Dietrich & Associates has the Solution.
Dietrich & Associates was honored to exhibit at the NAPA 401k Summit in Las Vegas March 19-21 2017. The NAPA Summit was a new conference in Dietrich’s annual lineup, and they enjoyed … more
Clients of the organization received charitable cookies this past holiday season
As the holiday season arrived, so did delicious cookies to Dietrich’s clients, benefitting … more