In the DC retirement plan industry, it is simply taken for granted that everyone should be saving more and that everyone should save as much as they possibly can; commentator Andrew Biggs offers some important caveats to the seemingly sensible recommendation.
Retirement plan participants in advised SDBAs displayed a more diversified asset allocation mix and had a lower concentration of assets in particular securities than those in non-advised accounts.
Asked about the major reasons they want to work beyond the traditional retirement age, Americans point to both wants and needs. The most common response is that people want to stay active and involved, or that they simply enjoy working; a fifth say they expect to need to work.
However, a MassMutual study finds this group can use more education about other retirement planning issues.
In light of the market volatility, they fled from equities
A study shows that higher levels of trust lead to better financial decision-making which includes higher rates of savings, increased commitment to savings, and increased loyalty to providers.
The Employee Benefit Research Institute’s (EBRI) 28th annual Retirement Confidence Survey (RCS) finds the share of employees who feel very confident in their ability to live comfortably in retirement remains low at just 17%.
A study suggests that armed with good savings options and understanding of how to use them, Latinas could and would save for retirement.
When American workers were asked how helpful further education would be to achieve their goals, a large majority expressed the need for additional financial education.
Fifty-five percent of women are afraid they will outlive their savings, according to the Transamerica Center for Retirement Studies.
It will only take a few pay cycles for folks to get used to seeing the extra money come in; thus the impetus is on plan sponsors to act today to directly encourage employees to consider putting some or all of their additional take-home pay into the retirement plan.
Compared with those who seek out traditional advisers, “online enthusiasts” are marginally more skeptical of believing that financial services firms are working in their best interests, according to Cerulli research.
Part of the very light trading activity can be explained by the prevalence of target-date funds, the largest asset class in the Alight Solutions 401(k) index.
Survey data shows a sizable group of retirement plan participants have lowered their contributions in the last year to address debt, unexpected bills, health care costs and other challenges.
Public pension fund members surveyed expressed interest in more transparency about pension fund investments and investment returns.
Retired couples, according to EBRI research, can require up to $370,000 to cover premiums for Medicare Parts B and D, premiums for Medigap Plan F, and out-of-pocket spending for outpatient prescription drugs.
Twelve out of 21 trading days favored fixed income funds.
Alight Solutions says there was a 50/50 split of trading days favoring equities and those favoring fixed income.
Roughly four in five retirement plan participants said it would be at least somewhat useful to have additional information about investment fees, according to research from The Pew Charitable Trusts.
Forty-three percent of Millennials say they need help managing saving for retirement, while 40% want help with good general savings habits.