Hartford Financial Services Group Inc. said it had introduced an educational program designed to help financial professionals, plan sponsors, and retirement plan participants prepare for the availability of Roth 401(k)s.
The Roth 401(k) is a retirement plan feature that lets investors designate certain 401(k) contributions as "after-tax," enabling them to withdraw these dollars tax-free at retirement, the Connecticut insurer said on Friday. The feature can be significant for the baby boomers who are expected to retire in record numbers in the next few years and seek greater flexibility in how they draw down retirement assets, it said.
Financial professionals' interest was evident at a recent quarterly conference call sponsored by Hartford's 401(k) team, which was attended by nearly 1,000 professionals and broker-dealer firms, the company said.
