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10 September

3 Did You Knows - Fall 2024 Edition

September 10, 2024 By Nick Stucko Education  

We are back with another issue of DID YOU KNOW? for Fall 2024!

 

  1. Assets earmarked for retirement represent about one-third of US households’ financial assets, and many Americans use mutual funds in tax-advantaged retirement accounts. In fact, 68% of 401(k) plan participants are invested in target date funds.*

 

  1. At year-end 2023, IRAs ($13.6 trillion) and DC plans ($10.6 trillion) represented 63% of total US retirement market assets ($38.4 trillion), and mutual funds managed about half of those account-based retirement assets.*

  1. 90% of 401(k) plan participants are in plans with employer contributions.

*Source: 2024 Investment Company Fact Book by the Investment Company Institute

  

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ERISA Workplace Retirement Plan Limits

The federal government annually publishes updated qualified retirement plan limits, which impact the contributions, benefit accruals, and compliance of ERISA covered qualified retirement plans. The below tables summarize the most significant changes in recent history.

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