Wall Street Journal: Financial Crisis Highlights Shortcomings of 401(k) Plans

November 3, 2008: The market turmoil of recent weeks has been brutal to 401(k)s. But beyond highlighting the woeful inadequacy of many Americans' retirement savings, the meltdown puts a spotlight on some longstanding pitfalls of 401(k)s themselves -- and makes it even more urgent that investors guard against them.

This year through Oct. 30, the average 401(k) account balance dropped roughly 18% to 23%, depending on the participant's age and tenure with the plan, according to Employee Benefit Research Institute.

Click here to read more at the Wall Street Journal.

Get Advice Join TDU Donate

Recent News

Team Canada IBT Slate is Accredited

The two IBT vice presidents from Canada and the president of Teamsters Canada have petitioned among Canadian Teamsters to accredit the Team Canada Slate in the IBT Election.  Yesterday the Election Supervisor reported that they submitted 8,156 petition signatures, far more than the needed number of 2,807 in Canada.

Fighting for Our Future at the TDU Convention

Hundreds of Teamsters made organizing plans, set our movement’s direction, and elected our TDU leadership for the coming year at the first (and hopefully last!) online TDU Convention.

View More News Posts