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Uncommon retirement plans that are gaining interest

07/29/11


As the U.S. Congress continues to struggle over the debt ceiling and a growing number of individuals are feeling uneasy about their retirement accounts that are backed by U.S. Treasuries, and a new market of plans have begun to emerge.

Cerulli Associates, a research firm specializing in asset management and distribution trends worldwide, has found that six niche retirement planning options are gaining significant growth lately. The traditional investment options such as 401(k)s and Roth IRAs made up close to $14 trillion in investments last year, these new markets only represent $1 trillion currently.

As the current economic climate continues to recover an increasing number of employees may opt into their companies retirement option plans. As a result, nonqualified deferred compensation plans may help companies gain an edge over their competition as they may be more attractive to potential employees. These plans are pre-tax savings opportunities that are exempt from many Employee Retirement Income Security Act regulations, unlike 401(k)s, possibly making them more appealing.

Additionally, small business IRAs and individual 401(k) plans are gaining interest among workers. Roughly 70 percent of small business owners are not saving for retirement and this may offer them an opportunity to do so. Taft-Hartley, 457 and 412i plans make up the remaining new options.  

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