Salient to Investors: Lee Topley at Unified Trust said 401(k)s were first introduced in the late 1970s as supplements to defined benefit pensions, when companies could easily to meet obligations through low-risk bonds with double-digit interest rates. After interest rates fell 401(k) plans grew as more companies decided that pensions
READ MORE... →Salient to Investors: Beth McHugh at Fidelity Investments said average balances in 401(k) accounts in the US rose 12 percent from a year earlier to a record high of $77,300 at year-end 2012 – 2/3 of the increase from market appreciation, the remainder from contributions. ICI says Americans held $3.5 trillion in 401(k) accounts as of Sept.
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