You will then have the ability to review your information and complete the registration process. Employee RegistrationSelect Register Now to start the registration process. Traditional retirement accounts force you to start withdrawals at age 73 (75 starting in 2033), but a Roth IRA lets your money keep growing as long as you want. This feature gives you more control and can be useful for leaving assets to heirs. For example, the average balance for savers who’ve been investing in the same 401(k) continuously for 15 years was around $585,600 and about $437,700 for those saving for 10 straight years, Fidelity data show.

Should You Roll Over Your 401(k) to an IRA or a Roth?

Request to see the fund’s benchmarking analysis, a comparative assessment that can tell you how well your fund stacks up against other 401(k) plans. System availability and response times are subject to market conditions and your mobile connection limitations. Feature availability depends on both plan and participant settings.Schwab MoneyWise® and Schwab Savings Fundamentals™ are provided by Charles Schwab & Co., Inc.

Unnecessarily high fees can make a big difference in the size of your retirement fund. The U.S. Department of Labor pointed out that even a 1% increase in 401(k) fees could reduce savings by my 401k plan login 28% for participants who set aside money over the course of 35 years or more. That could mean the difference between a comfortable retirement and one that has you pinching pennies and scraping by. Experts say the vast majority of employer-sponsored retirement accounts are underserving their investors. Just as alarming, almost 84% of 401(k) plans may have at least one type of red-flag infraction, which could lead to fines or penalties. A direct rollover moves the money straight from your 401(k) to your IRA, avoiding taxes and penalties.

• Any company paying more than 0.3% is probably overpaying, the report suggested.
• The employer contribution rate matches 100% of the first 3% of employee contributions, and 50% of the next 2%.
• Here’s the average 401(k) balance by age as of June 30, 2025, according to Fidelity.
• If you have access to multiple plans, you can use any of the plan numbers to which you have access when you log in.

The employer contribution rate matches 100% of the first 3% of employee contributions, and 50% of the next 2%. If you make $100,000 and contribute 5%, or $5,000, to your 401(k), your employer with chip in another $4,000 with the match. “It helps you know where you are on your savings journey, sort of like a map if you’re driving from San Francisco to Dallas,” said Shamrell.

FINANCIAL INTERMEDIARIES

Adam Shell is a veteran financial journalist who covers retirement, personal finance, financial markets, and Wall Street. He has written for USA Today, Investor’s Business Daily and other publications. If your 401(k) balance is below the averages listed above, don’t despair. However, consistent underperformance is usually due to a systemic problem, like poorly chosen investment options or a lack of diversification. If you’re hoping for a comfortable retirement, you may want to check in on your 401(k) to make sure it’s not underperforming.

Explore Rollover Options

Nearly eight in 10 (78.5%) of Fidelity 401(k) plan participants received a company match in the second quarter of 2025. The key is to contribute enough to earn the full match, so you don’t leave money on the table. Fidelity recommends saving 15% of your salary, including your company’s matching contribution. To reach that goal, boost your 401(k) savings when you get a raise or bonus, or commit to saving 1% more each year until you reach your savings target. In fact, one in four (26.3%) Fidelity 401(k) plans now come with employer-set auto-escalation features, according to the Fidelity study. Compare that with Fidelity’s recommended retirement savings amount by age, as measured by the multiples of salary a worker should save by a given decade in life.

Mykplan Login is the official website of Automatic Data Processing, Inc, a California-based human resources and management company. Company employees using ADP services can access the mykplan.com portal at any time. Consider consulting with a financial advisor who can provide personalized recommendations based on your unique circumstances.

How to Choose the Right 401(k) Rollover Option for You

Traditional IRAs offer tax-deferred growth and may be beneficial if you expect to be in a lower tax bracket during retirement. Roth accounts, on the other hand, provide tax-free withdrawals in retirement. This could be advantageous if you anticipate being in a higher tax bracket later or want tax diversity in your retirement income streams. Balances increased for all age groups in the second quarter of 2025 (ending June 30).

If this is your first user, you will need to register your account or create a new one. Alternatively, you can log in with your previous login details on the Mykplan 401K page. Different rollover options can have vastly different tax consequences. Traditional 401(k) to traditional IRA rollovers generally don’t trigger immediate taxes.

• There are no guarantees that working with an adviser will yield positive returns.
• Follow the steps to enter your registration code, verify your identity, get your User ID and password, select your security questions, enter your contact information, and enter your activation code.
• The most popular match on Fidelity’s platform is based on a 5% employee contribution rate.

Plus, if you need to access funds before retirement age, IRAs provide more exceptions to the early withdrawal penalty, including first-time home purchases and higher education expenses. 401(k) plans often come with administrative fees and higher expense ratios that can eat into your retirement savings over time. Traditional IRAs, on the other hand, typically offer more cost-effective investment options, especially if you choose a discount brokerage firm. The difference might seem small—perhaps just half a percentage point—but over decades, these savings can translate to thousands of additional dollars in your retirement account.

Nationwide Funds distributed by Nationwide Fund Distributors, LLC, Member FINRA, Columbus, OH. Nationwide Life Insurance Company, Nationwide Life and Annuity Company, Nationwide Investment Services Corporation, and Nationwide Fund Distributors are separate but affiliated companies. To end your session, select the Log off button, or take no action. Before you can view any information or perform any task within the site, you�ll be required to select the plan you want to work with during your current session before you can continue. The Plan Number drop-down list is located on the Security Home page. If you are logging in with the temporary password that was assigned to you by ADP Retirement Services, you’ll be required to personalize your password before you can gain access to the site.

Schwab Workplace Retirement Mobile App

Meanwhile, Roth conversions require paying taxes on the converted amount. If you’re considering cashing out, remember that you’ll face income taxes and, if you’re under 59½, an early withdrawal penalty. Consulting with a tax professional can help you understand how each option might affect your tax situation. Finally, rolling over into a Roth IRA can simplify your finances. If you have multiple old 401(k) accounts, combining them into one Roth IRA makes it easier to track, manage, and adjust your investments. Having everything in one place can help you stay organized and focused on your retirement plan.

If you’re 50 now and earn $100,000, you should have $600,000 socked away. If your company’s fund manager hasn’t performed a benchmark in at least three years, they’re probably taking a hands-off approach. This could be a major factor causing the fund to underperform, and hurt your retirement savings.