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New York Markets After Hours

need to know
Burger King to sell hot dogs starting Feb. 23
What to expect from Whole Foods earnings
US Foods files to go public
Salesforce CEO takes stake in Fitbit
U.S. government runs $55 billion budget surplus

Carly Fiorina drops out of presidential race

Has college financial aid totally backfired?

Private-equity firms now buying back their own shares
Share buyback machine remains in overdrive

A new ‘Harry Potter’ book is coming this summer

What Apple, Amazon and Starbucks have in common

Portland Trail Blazers guards Damian Lillard and C.J. McCollum live with ... mom
Meet the NBA stars who live with their mothers

Musician Lenny Kravitz owned the 19th-century Creole cottage in the French Quarter of New Orleans from 1994 to 2012. It's now back on the market at $1.16 million.

RE/Max N.O. Properties/Mansion Global
A bona fide celebrity abode — believe it or not
London house of the week has spiritual side
S.F. real estate looked like this in 2000, too
San Diego prices sending buyers northward
Location Scouts: Insider intel from top markets

A break for zombie-fighting Amazon developers

REIT bonus targets at heart of Brixmor scandal

Burberry sues, says J.C. Penney copied its designs
NRF expects retail sales to grow 3.1% in 2016

10 essential money questions to ask yourself today

Feds have removed a roadblock to driverless cars

Recipe for less boring Oscar acceptance speeches
Is James Bond’s Pinewood Studios for sale?

Why is everyone freaking out about ‘CoCos’?

If you’re bullish on oil, Chevron and Exxon are buys here
If you’re bullish on oil, these stocks are buys

Social Security in the crosshairs: replacement rates again
Stage is being set for cuts to Social Security

Tricky tax issues you should know about this year

Supreme Court halts Obama’s emissions plan
White House forecasts best growth in years
Obama proposes $4.1 trillion federal budget

Why you should consider retiring abroad
Finding the best places to retire abroad
Expat retirees: How life has turned out

Is it wise to hold on to cash reserves?


IRS says identity thieves breached its systems
How to know if your tax preparer is a crook
Tax software firm warns of data breach
White House's lesson about online security

The 6 Most Shorted NYSE Stocks: Short Sellers Pile on Alcoa, Freeport-McMoRan Again
Short sellers pile on Alcoa, Freeport-McMoRan
24/7 Wall St.: Short sellers retreat from Nasdaq

Cheap oil may make OPEC dominant again
Existential threat to Russians and Saudis: Lynn

Will oil get so cheap, it won’t pay to extract it?


/conga/frontpage.html 367627

Markets »

122.29MDow Volume:
Avg Vol: 130.29M
Unchanged
201
Decliners
3048
Advancers
3255
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 15,915 -100 0.62%
Nasdaq
/quotes/zigman/12633936/realtime 4,284 +15 0.35%
S&P 500
/quotes/zigman/3870025/realtime 1,852 0 0.02%
GlobalDow
/quotes/zigman/629063/realtime 2,087 +2 0.11%
Gold
/quotes/zigman/33772884/delayed 1,197 -1 0.10%
Oil
/quotes/zigman/2260836/delayed 27.32 -0.62 2.22%
FTSE 100
/quotes/zigman/3173262/delayed 5,672 +40 0.71%
DAX
/quotes/zigman/2380246/delayed 9,017 +138 1.55%
CAC 40
/quotes/zigman/3173214/delayed 4,061 +64 1.59%
FTSE MIB
/quotes/zigman/1482176/delayed 16,714 +801 5.03%
IBEX 35
/quotes/zigman/2759620/delayed 8,144 +216 2.73%
Stoxx 600
/quotes/zigman/2380150/delayed 315 +6 1.87%
Asia Dow
/quotes/zigman/6959860/realtime 2,454 -17 0.69%
Nikkei 225
/quotes/zigman/5986735/delayed 15,713 -372 2.31%
Hang Seng
/quotes/zigman/2622475/delayed 19,288 +105 0.55%
Shanghai
/quotes/zigman/1859015/delayed 2,763 -18 0.63%
Sensex
/quotes/zigman/1652085/delayed 23,759 -262 1.09%
Singapore
/quotes/zigman/1709939/delayed 2,582 -41 1.57%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 0.00 0.03%
Yen
/quotes/zigman/16008150/realtime/sampled 113.38 -1.75 1.52%
Pound
/quotes/zigman/16008140/realtime/sampled 1.45 +0.00 0.34%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.71 +0.00 0.42%
DXY Index
/quotes/zigman/1652083/delayed 95.82 -0.24 0.25%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.88 -0.40 0.45%
U.S. 10yr
/quotes/zigman/15866666/realtime 1.68 -0.05 2.76%
German 10y
/quotes/zigman/15866409/realtime 0.24 +0.01 2.52%
Italy 10yr
/quotes/zigman/15866497/realtime 1.64 -0.04 2.37%
Spain 10yr
/quotes/zigman/15866444/realtime 1.72 -0.06 3.62%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.42 +0.00 0.13%
Japan 10yr
/quotes/zigman/15866525/realtime 0.01 +0.04 165.64%
Crude Oil
/quotes/zigman/2260836/delayed 27 -1 2.22%
Gold
/quotes/zigman/33772884/delayed 1,197 -1 0.10%
Corn
/quotes/zigman/25518691/delayed 360 -1 0.21%
DJIA F
/quotes/zigman/48241424/delayed 15,867 -92 0.58%
S&P F
/quotes/zigman/43106711/delayed 1,847 -1 0.07%
Silver
/quotes/zigman/32655632/delayed 15 0 1.03%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 101.00 1.46 1.47%
AAPL /quotes/zigman/68270/composite 94.27 -0.72 -0.76%
GOOG /quotes/zigman/59527964/composite 684.12 6.01 0.89%
BAC /quotes/zigman/190927/composite 11.98 -0.22 -1.80%
C /quotes/zigman/5065548/composite 37.41 -0.10 -0.27%
F /quotes/zigman/264304/composite 11.34 -0.01 -0.09%
T /quotes/zigman/398198/composite 36.43 -0.22 -0.60%
BP /quotes/zigman/247026/composite 28.04 -0.31 -1.09%
GE /quotes/zigman/227468/composite 28.30 0.02 0.07%
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Rates »

5 yr CD
1.3%
2 yr CD
0.7%
1 yr CD
0.5%
MMA $10K+
0.2%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.96% 11.96% 11.62%
Business 13.12% 13.12% 12.85%
Student 13.42% 13.42% 13.14%
Balance Transfer 14.35% 14.35% 14.12%
Airline 15.17% 15.17% 15.10%
Cash Back 15.20% 15.26% 15.27%
Reward 15.25% 15.28% 15.14%
Instant Approval 18.02% 18.21% 18.00%
Bad Credit 22.56% 22.88% 22.73%
Source:CreditCards.com

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Encore
A blog about living in and planning for retirement

401(k) Plan Perks Grow, but Savings Still Lag

Workers are getting a little more help from their employers when it comes to retirement saving, but many are still falling short in building their nest eggs.

After suspending or slashing their matches of employees’ 401(k) contributions  during the recession, most companies have restored them. In 2011, the percent of companies making those matches increased to 95.5%, up from 91% in 2010, according to survey results released this month by the Plan Sponsor Council of America, a nonprofit association that services plan sponsors.

But while more companies are contributing to retirement accounts, they aren’t as generous as they were before the financial crisis. The average company contributed 4.1% of pay in 2011, up from 3.7% in 2010, but still below the peak of 4.7% seen in 2006.

Instead, experts say some employers are throwing in another perk that often doesn’t cost them anything: 401(k) advice. Many retirement plans administered by Charles Schwab, for example, let employees chat with Schwab representatives to discuss their needs and get help comparing mutual funds available to them, says Steve Anderson, head of Schwab Retirement Plan Services.  Those workers who take advantage of the advice tend to save more and be more diversified than those who don’t use the service, says Anderson.  (Schwab’s administrative costs for running the 401(k), which are often evenly divided among a plan’s participants, stay the same whether a company decides to offer advice or not, he says.)

Despite the return of matching contributions, financial advisers and other experts say workers still aren’t saving enough.  For instance, about two-thirds of investors surveyed by T. Rowe Price said they contributed 10% or less of their salaries into their 401(k) plans, according to results released this week. And nearly a third said they were not sure how much they were saving. Christine Fahlund, senior financial planner at T.Rowe Price, recommends workers save closer to 15% to 20% of their income—or more if they don’t start saving until their 40s or 50s. (To gauge whether you’re on pace to afford retirement, check our online planner: http://www.smartmoney.com/retirement/planner/).

Those lower savings rates mean many workers will have to delay retirement, take on part-time work, or spend significantly less during retirement, says Fahlund.  Indeed, while the economy has bounced back, workers’ confidence hasn’t: Just 14% of Americans are confident they will have enough money to live comfortably in retirement, only up slightly from the low of 13% reached in 2009, according to a 2012 survey by the Employee Benefit Research Institute.  And 37% of workers expect they will have to work past age 65, compared to 11% in 1991.

Some advisers say the company match may be – at least partly – to blame, pointing out that some workers see little reason to contribute beyond what their employer matches. For instance, many workers will contribute no more 6% of their pay if their employer only matches up to 6% of their salary, says Steve Vernon, a financial adviser and author of “Money for Life:  Turn Your IRA and 401k Into A Lifetime Retirement Paycheck.” “Don’t take the design of the plan as a signal as to how much you should save,” he says.

Some companies are trying to change that by matching up to a higher portion of a worker’s salary, but lowering the amount matched per dollar, he says. For instance, a company could go from matching up to 5% of pay dollar for dollar, to matching up to 10% of pay, but only contributing 50 cents for each dollar the employee puts in. That would increase the total contribution to 15% of pay from 10% for workers who max out their company contribution, says Vernon, but the total amount contributed by the company would stay the same.

Other companies are trying to boost savings by making the process automatic. The percentage of plans with an automatic enrollment feature increased to 45.9% in 2011, up from 23.6% in 2006, according to the Plan Sponsor Council of America. And 55.2% of plans had a component for automatically increasing the amount contributed, up from 31.2% in 2006.Savers can use these step-up programs, which typically increase the percent allocated by one or two percentage points each year, as a way to work up to the target 15% or 20% savings rate, says Fahlund.

 

Comments

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Comments (2 of 2)

View all Comments »
    • This article wasn’t about 401K fees, so it had no reason to dig into that area. The consistent advice has been “Put at least enough in your 401K to get the company match”. As always, people are doing the “at least” or bare minimum, yet we seem surprised? Most folks would much rather spend now, and hope for some kind of magic later. They don’t trust investment advisers (Wall Street), so they’re much happier keeping the money for their ongoing wants rather than saving it. Chances are, it won’t turn out great for them in the long run, but that’s their baby to deal with, not mine!

    • thyey never tell you exactly what the fees are .. there are not supposed to be hidden fees.. but this article does a poor job digging into this..

About Encore

  • Encore examines the changing nature of retirement, from new rules and guidelines for financial security to the shifting identities and priorities of today’s retirees. The blog also explores news that affects retirement, from the Wall Street Journal Digital Network and around the web. Lead bloggers are reporter Catey Hill and senior editor Jeremy Olshan. Other contributors include The Wall Street Journal’s retirement columnists Glenn Ruffenach and Anne Tergesen; the Director for the Center for Retirement Research at Boston College, Alicia Munnell; and the Director of Research for Pinnacle Advisory Group, Michael Kitces, CFP.

MarketWatch - Stock Market Quotes, Business News, Financial News

New York Markets After Hours

need to know
Burger King to sell hot dogs starting Feb. 23
What to expect from Whole Foods earnings
US Foods files to go public
Salesforce CEO takes stake in Fitbit
U.S. government runs $55 billion budget surplus

Carly Fiorina drops out of presidential race

Has college financial aid totally backfired?

Private-equity firms now buying back their own shares
Share buyback machine remains in overdrive

A new ‘Harry Potter’ book is coming this summer

What Apple, Amazon and Starbucks have in common

Portland Trail Blazers guards Damian Lillard and C.J. McCollum live with ... mom
Meet the NBA stars who live with their mothers

Musician Lenny Kravitz owned the 19th-century Creole cottage in the French Quarter of New Orleans from 1994 to 2012. It's now back on the market at $1.16 million.

RE/Max N.O. Properties/Mansion Global
A bona fide celebrity abode — believe it or not
London house of the week has spiritual side
S.F. real estate looked like this in 2000, too
San Diego prices sending buyers northward
Location Scouts: Insider intel from top markets

A break for zombie-fighting Amazon developers

REIT bonus targets at heart of Brixmor scandal

Burberry sues, says J.C. Penney copied its designs
NRF expects retail sales to grow 3.1% in 2016

10 essential money questions to ask yourself today

Feds have removed a roadblock to driverless cars

Recipe for less boring Oscar acceptance speeches
Is James Bond’s Pinewood Studios for sale?

Why is everyone freaking out about ‘CoCos’?

If you’re bullish on oil, Chevron and Exxon are buys here
If you’re bullish on oil, these stocks are buys

Social Security in the crosshairs: replacement rates again
Stage is being set for cuts to Social Security

Tricky tax issues you should know about this year

Supreme Court halts Obama’s emissions plan
White House forecasts best growth in years
Obama proposes $4.1 trillion federal budget

Why you should consider retiring abroad
Finding the best places to retire abroad
Expat retirees: How life has turned out

Is it wise to hold on to cash reserves?


IRS says identity thieves breached its systems
How to know if your tax preparer is a crook
Tax software firm warns of data breach
White House's lesson about online security

The 6 Most Shorted NYSE Stocks: Short Sellers Pile on Alcoa, Freeport-McMoRan Again
Short sellers pile on Alcoa, Freeport-McMoRan
24/7 Wall St.: Short sellers retreat from Nasdaq

Cheap oil may make OPEC dominant again
Existential threat to Russians and Saudis: Lynn

Will oil get so cheap, it won’t pay to extract it?


/conga/frontpage.html 367627

Markets »

122.29MDow Volume:
Avg Vol: 130.29M
Unchanged
201
Decliners
3048
Advancers
3255
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 15,915 -100 0.62%
Nasdaq
/quotes/zigman/12633936/realtime 4,284 +15 0.35%
S&P 500
/quotes/zigman/3870025/realtime 1,852 0 0.02%
GlobalDow
/quotes/zigman/629063/realtime 2,087 +2 0.11%
Gold
/quotes/zigman/33772884/delayed 1,197 -1 0.10%
Oil
/quotes/zigman/2260836/delayed 27.32 -0.62 2.22%
FTSE 100
/quotes/zigman/3173262/delayed 5,672 +40 0.71%
DAX
/quotes/zigman/2380246/delayed 9,017 +138 1.55%
CAC 40
/quotes/zigman/3173214/delayed 4,061 +64 1.59%
FTSE MIB
/quotes/zigman/1482176/delayed 16,714 +801 5.03%
IBEX 35
/quotes/zigman/2759620/delayed 8,144 +216 2.73%
Stoxx 600
/quotes/zigman/2380150/delayed 315 +6 1.87%
Asia Dow
/quotes/zigman/6959860/realtime 2,454 -17 0.69%
Nikkei 225
/quotes/zigman/5986735/delayed 15,713 -372 2.31%
Hang Seng
/quotes/zigman/2622475/delayed 19,288 +105 0.55%
Shanghai
/quotes/zigman/1859015/delayed 2,763 -18 0.63%
Sensex
/quotes/zigman/1652085/delayed 23,759 -262 1.09%
Singapore
/quotes/zigman/1709939/delayed 2,582 -41 1.57%
Euro
/quotes/zigman/16008136/realtime/sampled 1.13 0.00 0.03%
Yen
/quotes/zigman/16008150/realtime/sampled 113.38 -1.75 1.52%
Pound
/quotes/zigman/16008140/realtime/sampled 1.45 +0.00 0.34%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.71 +0.00 0.42%
DXY Index
/quotes/zigman/1652083/delayed 95.81 -0.25 0.26%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.88 -0.40 0.45%
U.S. 10yr
/quotes/zigman/15866666/realtime 1.68 -0.05 2.76%
German 10y
/quotes/zigman/15866409/realtime 0.24 +0.01 2.52%
Italy 10yr
/quotes/zigman/15866497/realtime 1.64 -0.04 2.37%
Spain 10yr
/quotes/zigman/15866444/realtime 1.72 -0.06 3.62%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.42 +0.00 0.13%
Japan 10yr
/quotes/zigman/15866525/realtime 0.01 +0.04 165.64%
Crude Oil
/quotes/zigman/2260836/delayed 27 -1 2.22%
Gold
/quotes/zigman/33772884/delayed 1,197 -1 0.10%
Corn
/quotes/zigman/25518691/delayed 360 -1 0.21%
DJIA F
/quotes/zigman/48241424/delayed 15,867 -92 0.58%
S&P F
/quotes/zigman/43106711/delayed 1,847 -1 0.07%
Silver
/quotes/zigman/32655632/delayed 15 0 1.03%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 101.00 1.46 1.47%
AAPL /quotes/zigman/68270/composite 94.27 -0.72 -0.76%
GOOG /quotes/zigman/59527964/composite 684.12 6.01 0.89%
BAC /quotes/zigman/190927/composite 11.98 -0.22 -1.80%
C /quotes/zigman/5065548/composite 37.41 -0.10 -0.27%
F /quotes/zigman/264304/composite 11.34 -0.01 -0.09%
T /quotes/zigman/398198/composite 36.43 -0.22 -0.60%
BP /quotes/zigman/247026/composite 28.04 -0.31 -1.09%
GE /quotes/zigman/227468/composite 28.30 0.02 0.07%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
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Rates »

5 yr CD
1.3%
2 yr CD
0.7%
1 yr CD
0.5%
MMA $10K+
0.2%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.96% 11.96% 11.62%
Business 13.12% 13.12% 12.85%
Student 13.42% 13.42% 13.14%
Balance Transfer 14.35% 14.35% 14.12%
Airline 15.17% 15.17% 15.10%
Cash Back 15.20% 15.26% 15.27%
Reward 15.25% 15.28% 15.14%
Instant Approval 18.02% 18.21% 18.00%
Bad Credit 22.56% 22.88% 22.73%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
  • /quotes/zigman/23556538/composite TWTR+4.03%
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  • /quotes/zigman/20039/composite CSCO-0.62%
  • /quotes/zigman/7619798/composite EXPE+1.85%
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X
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