401(k) Day is celebrated the Friday after Labor Day. As you start wrapping up summer, give your retirement account a review. Whether you have a 401(k), a 403(b), or an IRA, take some time to celebrate the fact that you are saving for your future!
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4 Reminders on 401(k) Day
- Review your account balance. Are you on track to meet your retirement goals? Or is it time to make changes? The Mile Marker tool in your account can help you determine your journey.
- Increase your contribution rate. It is generally recommended to contribute between 10-15% of your pay towards retirement. Can’t get there now? A 1% increase each 401(k) day can get you there over time!
- Review your investments. Over time, market performance may cause our investments to move from our intended allocation. Periodic changes or rebalancing can realign your investments with your intended risk tolerance.
- Update your beneficiaries. Your stated 401(k) beneficiaries determine where your money goes if something happens to you. Be sure to review annually for accuracy.