Anne Tergesen
speaker
4,485 appearances
83 recordings
1 series
first heard Jul 2017
last heard Feb 2025
Anne Tergesen’s voice in public audio — every appearance, attributed to the second.
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And that's kind of a mandate.
I think for a lot of companies that have been thinking about starting 401 s, if they're in one of these states where these mandates exist,
Those can get them to take action because they know they're going to have to do something, either use the state plan or start their own.
And a lot of them who've been thinking about starting their own just go ahead and start their own.
Historically, small companies, they've only really had access to pretty expensive 401ks for a variety of reasons.
And now...
With the advent of these sort of internet-based offerings, the pricing has been declining.
So that makes it more attractive also to employers to offer one of these.
People I spoke to certainly seem to view it as a positive.
We've seen the labor market become more competitive.
In recent years, as baby boomers are retiring, there just aren't as many workers out there.
So I think that workers are starting to demand more benefits and employers are responding.
You know, they want to attract and retain workers.
workers because it's very costly to hire somebody and then have them quit and then have to go out and find somebody new to do the job and train them.
And having these benefits, I think, is increasingly integral to competing in the labor market and hiring people.
As a general rule of thumb, you know, if you contribute something between like 12% and 15% of your salary combined with an employer match, so that would be a total including the match, every year for your entire 30-year career,
that you should end up with something that's an adequate amount of savings.
Well, I mean, that said, not everybody can do that.
For a variety of complicated reasons, people with lower incomes often can err on the lower side of that 12% to 15%.
People with higher incomes often need to save more.
Showing 41–60 of 4,485 · page 3 of 225
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