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  • Bid Lost For Education Agility

    education deskWashington state has lost its latest bid for flexibility under the federal No Child Left Behind law. State officials say they heard from U.S. Department of Education officials to say they were not going to approve a request made about… Read More +

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  • Seahawks 2014 Regular Season Sold Out

    hawks12The Seattle Seahawks 2014 regular season is sold out, the team announced Monday. Single-game tickets went on sale Monday morning at 10 a.m. at the CenturyLink Field Box Office and through Ticketmaster. A limited number of tickets remain for preseason games. The club capped season-ticket memberships at 63,000, the most in franchise history.

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Top CEO Rails Against 401(k) Programs

b_250_0_16777215_00_images_obgrabber_2013-11_28cd228107.jpgiStock/Thinkstock (NEW YORK) -- More than 50 million Americans have 401(k) retirement plans. That's the good news, according to Charles Schwab Chief Executive Walter Bettinger. The bad news is that the median 401(k) balance is barely over $40,000, hardly enough to retire on. Bettinger told the National Press Club Monday that he's angry with the 401(k) system making it too expensive for Americans to save money for their golden years.

 

Not only should overall fees be lowered to make building a 401(k) plan more affordable, but Bettinger says that 401(k) programs should also go the extra mile and provide people with a money manager.

The CEO explained, "Research we've done on plans at Schwab show that employees working with an independent professional double their savings rates and set up a far superior investment allocation."

Copyright 2013 ABC News Radio

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