National 401(k) Day

Are you ready for National 401(k) Day? Established by the Plan Sponsor Council of America, this day is observed on the Friday following Labor Day. It’s a great opportunity to focus on retirement strategy and your financial future.

Did You Know?

• Since the 1980s, the number of Americans participating in 401(k) plans has risen from 8% to 50%. [1]

• 70 million Americans are active participants in 401(k) plans, making up to $10.1 trillion in assets, according to an Investment Company Institute report from 2026. [2]

• The average equity mutual fund expense ratio for 401(k) investors has more than halved in recent years, which can make them more attractive to long-term investors. [3]

• Over 70% of U.S. companies now offer 401(k)-type plans, with the majority providing automatic and immediate enrollment. [4]
  • Once you reach age 73, you must take required minimum distributions (RMDs) from your 401(k) or any other defined contribution plan in most circumstances. Withdrawals from your 401(k) or any other defined contribution plans are taxed as ordinary income and, if taken before age 59 1/2, may be subject to a 10% federal income tax penalty.