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HomeTrading NewsThere’s a New Way to Convert Your 401(k) into a Pension-like Stream of Income

There’s a New Way to Convert Your 401(k) into a Pension-like Stream of Income

Reuters

Goldman Sachs introduces new employee benefits – source

The bank is increasing its retirement fund, matching contributions for U.S. employees to 6% of total compensation, a jump of 2%, according to a person familiar with the matter. Goldman will also contribute 8% of total compensation for employees making $125,000 a year or less, the person said, adding the bank was eliminating the one-year waiting period before matching employee contributions for new recruits. “We’re focused on delivering energy optimization, resilience, and mental health programs that support our people in caring for themselves and their families,” Bentley de Beyer, the bank’s global head of human capital management, said in an e-mailed statement in response to Reuters’ request for comment.

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