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

Albertsons Teamsters Ratify Strong Contract

Last year, Local 771 members elected new local leaders on a program of building union power by involving members. Now nearly 500 grocery Teamsters at Albertsons have won a new contract that includes record wage increases and benefit improvements.

Webinar: Build Bargaining Power with a Contract Campaign

From national contracts to local agreements, unions are mobilizing to take on employers and win. Watch the recording of the webinar to hear how.

View More News Posts