Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
May 2nd, 2018
Benefits & Administration
The Real Retirement Crisis: Assessing Retirement Savings Adequacy
Andrew G. Biggs, resident scholar at American Enterprise Institute, told attendees of the Plan Sponsor Council of America (PSCA) 71st Annual National Conference, that for most of his 20 years in the retirement industry, if someone had asked him if Americans are undersaving for retirement, he would have said they were. However, he’s been looking at the research and claims that indicate there is a retirement crisis in America and suggests they are understating what Americans will have for retirement income and overstating what they will need. “The outlook is more positive than what the stories tell,” he said.Read more >
Paying for Health Care Costs in Retirement Is Biggest Fear
Americans are most concerned about paying for medical and pharmaceutical expenses in retirement, cited by 31%, according to Franklin Templeton’s “Retirement Income Strategies and Expecations (RISE)” survey. Americans’ second greatest fear is paying off debt (18%) and funding assisted living care (15%).Sixty-two percent of younger Gen X women, those between the ages of 38 and 45, are worried about managing retirement income. Despite these concerns, 67% of Gen X women do not have a retirement income strategy that could last 30 years or more.Read more >
Investors Want Adviser Discussions to Expand Beyond Risk to Retirement Income
Investors are interested in discussing how they can protect themselves in times of market volatility, but they are also interested in discussing guaranteed retirement income, AXA found in a survey of more than 1,000 individuals and 300 financial professionals.Read more >
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