Who Do Carters Use for a 401k?

Carter William Co. utilizes Merrill Lynch as the provider for their 401(k) savings plan.

Understanding the Carter William Co. 401(k) Plan

Carter William Co. offers a retirement savings option to its employees through the CARTERS 401(K) SAVINGS PLAN. This crucial benefit is administered by Merrill Lynch, a well-known financial services institution. The plan is designed to help employees save for retirement through pre-tax contributions, with potential employer matching contributions, allowing their investments to grow tax-deferred until withdrawal.

Key details of the plan include:

• Provider: Merrill Lynch
• Plan Name: CARTERS 401(K) SAVINGS PLAN
• Employees Covered: The plan currently covers 7,243 employees, highlighting its broad reach within the company.

For employees of Carter William Co. looking to manage or learn more about their 401(k) plan, resources are typically available through their employer or directly via the provider's platform. You can often find details on how to access your Carter William Co. 401(k) plan via financial planning platforms like Capitalize.

Why Companies Choose Specific 401(k) Providers

Companies like Carter William Co. select 401(k) providers based on various factors to ensure their employees have access to robust and user-friendly retirement savings options. These factors often include:

• Reputation and Reliability: Choosing a well-established provider like Merrill Lynch instills confidence in employees regarding the security and management of their retirement funds.
• Investment Options: A diverse range of investment funds, including target-date funds, index funds, and actively managed funds, is crucial for employees to build a diversified portfolio.
• Fees and Costs: Companies evaluate the administrative fees, investment management fees, and other costs associated with the plan to ensure they are reasonable for both the employer and employees.
• Participant Services: Excellent customer service, intuitive online portals, comprehensive educational resources, and access to financial advisory support are vital for employee engagement and effective plan utilization.
• Compliance and Administration: Reputable providers handle complex regulatory compliance and administrative tasks, easing the burden on the employer.

A 401(k) is a powerful tool for retirement savings, allowing employees to contribute a portion of their pre-tax salary to an investment account. These contributions, along with any employer matches, grow tax-deferred until retirement, providing a significant advantage for long-term financial planning. To understand more about how 401(k)s work generally, you can explore resources from financial education sites or government agencies like the U.S. Department of Labor.

Summary of Carter William Co. 401(k) Provider

Below is a quick overview of the Carter William Co. 401(k) plan details: