| | Benefits & Administration | | Wealthier Investors Cannot Escape Retirement Health Cost Concerns | | Sixty-nine percent of high-net-worth (HNW) investors in the U.S. worry about how they will cover health care costs in their later years, as longevity continues to expand, UBS found in a survey. Seventy-seven percent of U.S. wealthy investors say health is more important than wealth, and 57% are worried their health will deteriorate in the next 10 years.Read more > | | $280K Is What a Couple Retiring This Year Will Need to Cover Health Care | | A 65-year-old couple retiring this year will need $280,000 to cover health care and medical expenses throughout their retirement, according to Fidelity Investments. This is a 2% increase from 2017—and a 75% increase from Fidelity’s first estimate in 2002. Fidelity says the cost breaks out to $133,000 for men and $147,000 for women, primarily because of their expected longer lifespans. “Despite this year’s estimate remaining relatively flat, covering health care costs remains one of the most significant, yet unpredictable, aspects of retirement planning,” says Shams Talib, executive vice president and head of Fidelity Benefits Consulting.Read more > | | Hearing Witnesses Lay Out How Multiemployer Pensions Got Where They Are | | Witnesses for the newly formed Joint Select Committee on Solvency of Multiemployer Pension Plans spelled out for legislators the history of multiemployer pensions and how they got into the crisis they are in today. “A combination of economic, demographic, and regulatory changes have placed a small but material segment of these plans at risk,” Ted Goldman, senior pension fellow with the American Academy of Actuaries, told the committee.Read more > |
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