The Labor Department said late last week that it will build upon a Trump administration regulation governing advice that affects the trillions of dollars in retirement accounts, rather than replace it. The measure, which goes into effect Tuesday, will cause many rollovers, in which hundreds of billions of dollars move annually from 401(k)s to individual… Continue reading New Rule on 401(k) Rollovers Takes Effect
Tag: retirement account
Most Americans Didn’t Opt to Raid 401(k) Amid COVID
Despite the financial toll of the coronavirus pandemic, few American households have raided their retirement accounts to make ends meet. Faced with the prospect of surging unemployment and a declining economy, Congress in March passed a law that temporarily allows Americans to use their retirement money today. But so far, there hasn’t been a rush… Continue reading Most Americans Didn’t Opt to Raid 401(k) Amid COVID