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Benefits & Administration |
Over Half of Americans Have Nothing Saved in a Retirement Account |
Among all working Americans, the median retirement account balance is zero, according to a report from The National Institute on Retirement Security (NIRS). Further findings were that four out of five working Americans have less than one year’s income saved in retirement accounts.Read more > |
Correlation Found Between Profitability and Quality of 401(k) Plans |
Above-average-rated retirement plans are more apt to be found at companies with 20% to 80% higher profitability than are average-rated plans, says T. Rowe Price Retirement Plan Services Inc. in new research. “Where 401(k) Design and Corporate Profitability Cross Paths,” finds that companies with strong performance have quality 401(k) plans. The study evaluated 485 401(k)s with more than $50 million in assets and a BrightScope rating, which served as a proxy for 401(k) plan quality.Read more > |
An Accurate Perception of Their Finances Eludes Many Americans |
One-third of Americans do not have an accurate handle on the state of their own finances, thinking they are better or worse off than they actually are, according to Prudential Financial Inc.’s Financial Wellness Census. More than 50% think they will be able to achieve their financial goals, but less than 50% are on track to achieve them.Read more > |