What if you could choose how to use your 401(k) match? One company's trying that. [USA TODAY]
Abbott Laboratories (ABT)
Last abbott laboratories earnings: 4/16 07:30 am
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Source: USA TODAY
The ruling would allow employees to designate a portion of their to go towards their 401(k), health reimbursement accounts or student-loan repayments. The ruling applies only to one company that made the request, but some advisers said this could open the door to more flexibility in 401(k) accounts across the board. “This is so exciting,” said Emily Irwin, head of advice at Wells Fargo Bank. “This is so innovative and interesting from the employer and employee perspective. It's putting all the control into employee hands with a baked-in default towards retirement.” What does the ruling allow? The so-called allows workers at one unnamed company to choose at the beginning of each year where they want their company's 401(k) retirement match to go. They can apply the money to the employees' retirement plan, health savings account, student-loan repayment, a retiree health-reimbursement arrangement, or possibly a combination of those options. If no choice is made, funds would autom
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