The good news from a new TIAA-CREF survey is that Americans acknowledge the importance of a lifetime income plan. The bad news: Few take action to create one.
Many older Americans are taking on debt at a time when they should be focused on savings and retirement investments, according to the Employee Benefit Research Institute.
The American Academy of Actuaries evaluated how well public and private retirement systems—and proposals to reform them—meet the needs of participants, sponsors and other stakeholders.
Despite concerns about their employees' ability to save enough for retirement, few nonprofit 403(b) plan sponsors use targeted education or offer financial wellness programs.
Lower investable assets and higher health care costs are delaying retirement for the 94% of working middle-income Baby Boomers with plans to retire one day.