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Retirement savings

More Americans are dipping into retirement funds for emergencies

by Henry Epp
Nov 21, 2023
“Hardship withdrawals” are rising, Fidelity Investments reports, most commonly to avoid eviction or foreclosure or pay medical bills.
The most common reasons for "hardship withdrawals," Fidelity reported, were avoiding eviction or foreclosure and paying medical expenses.
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The latest push for a national retirement savings system

by David Brancaccio , Chris Farrell and Alex Schroeder
Nov 8, 2023
A new bill follows up on recent bipartisan legislation to expand access to retirement savings.
A new bill in Congress, the Retirement Savings for Americans Act, would boost retirement security for low- and moderate-income workers.
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401(k) balances are rising, but most savers still won't have enough for retirement

by Samantha Fields
Aug 18, 2023
The average 401(k) balance is a tenth of what a middle-class person would need to maintain their lifestyle, one expert says.
Marketplace's senior economics contributor details findings from a new report that ranks global retirement systems.
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Pay off student loans, or save for retirement? Both.

by David Brancaccio , Erika Soderstrom and Alex Schroeder
Jul 28, 2023
A new law set to go into effect next year would allow you to double your money when you pay student loans.
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What’s the deal with catch-up provisions and retirement?

by David Brancaccio , Chris Farrell and Erika Soderstrom
Jul 27, 2023
The details on this savings tactic and how it’s changing in 2024.
According to a study by Vanguard, only 16% of people near retirement took advantage of the catch-up provision.
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Many Gen-Xers have zero retirement funds. What can we do to address America's retirement crisis?  

by Janet Nguyen
Jul 20, 2023
Experts say that there are various policy solutions that can be implemented to address this issue.
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Could companies be persuaded to bring back pensions?

by David Brancaccio , Chris Farrell and Erika Soderstrom
Mar 9, 2023
Why defined pension plans could make a comeback in a tight labor market.
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Retirement accounts fell more than 20% in 2022

by Mitchell Hartman
Feb 27, 2023
Fidelity Investments reports that average 401(k) and IRA balances fell to around $104,000 in 2022, as financial markets stumbled.
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Coming soon: new tax incentives for low-income people to save for retirement

by Samantha Fields
Dec 30, 2022
People who meet certain income requirements will soon be able to get a 50% match from the federal government on up to $2,000 they save in a retirement account.
A 2019 paper found many white Americans don't fully understand the true size of the racial wealth gap.
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Reforms in latest spending bill could help close gender gap in retirement savings

by Meghan McCarty Carino
Dec 27, 2022
The SECURE Act 2.0 aims to help part-time and lower-wage workers — categories where women are overrepresented — save for retirement.
Because women typically generally earn less over their lifetimes, it can be more difficult for them to save for retirement, says economist Betsey Stevenson.
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