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How Important are Defined Contribution Plans to Retirement Success? - napa-net.0rg
If you’ve ever questioned the value of deferred compensation (defined contribution) plans like 401(k)s and IRAs and if you are unsure about the importance of the “401k plans for all” President Trump announced in his State of the Union address Tuesday, this post by National Association of Plan Advisors’ Ted Godbout should be of interest to you. Godbout notes that, based on survey results from Investment Company Institute’s (ICI) 18th annual survey, “… nearly half of all Americans who have retirement savings in a 401(k) or similar plan say they probably would not save for retirement otherwise…” With the absence of accumulated wealth frequently cited as an impediment to retirees enjoying a stress-free lifestyle in later years, survey results like this underscore just how important programmatic savings opportunities can be. Read the Gobbout post in full here…
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