Fidelity Investments is introducing annuity options into its 401(k) retirement plans, allowing customers to receive a fixed income for life. This move reflects a growing trend among US retirees prioritizing stability and predictable income over potentially higher but riskier market returns.
Crypto markets experienced a sharp downturn, with Bitcoin falling below $67k and significant ETF outflows. Senators Sanders and Warren urged the Labor Department to block crypto in 401(k)s, citing risks. Coinbase Ventures invested in Ethena's ENA token, while the US sanctioned Iranian crypto exchanges.
Bernie Sanders and Elizabeth Warren urged the Labor Department to drop a proposal that would make it easier to offer crypto and other alternative assets in 401(k) plans, arguing it weakens fiduciary standards and could benefit Donald Trump and his family.
Democrats, led by Bernie Sanders and Elizabeth Warren, are strongly opposing a US Department of Labor proposal to allow 401(k) investments in cryptocurrency and private assets, citing risks to workers' retirement savings and potential conflicts of interest related to Donald Trump.
President Trump will sign an executive order Thursday to create a new retirement account for the roughly 56 million Americans without employer-sponsored retirement plans. The order integrates with the Saver's Match from Secure 2.0, providing up to $1,000 in federal matching contributions for workers earning up to $20,000 (single) or $40,000 (joint). The Saver's Match takes effect in tax year 2027, with Morningstar projecting a 12% wealth boost for eligible recipients.
President Donald Trump is expected to sign an executive order creating a new retirement account option for the approximately 56 million Americans who lack access to employer-sponsored retirement plans. The accounts would provide federal matching contributions of up to $1,000, integrated with the Saver's Match provision from Secure 2.0 legislation that takes effect in tax year 2027. Single taxpayers earning up to $20,000 and joint filers earning up to $40,000 would qualify for the 50% match on contributions up to $2,000.
