EBRI dives into the spending patterns of older Americans and reveals what could make them outspend their income.
Tag: Retirement Income
Seventy percent of employees surveyed by the Nationwide Retirement Institute think they are eligible for full Social Security benefits before they actually are.
Nearly three-quarters of workers say income stability is more important than maintaining wealth in retirement, but approximately one-third each chose managing their own assets or managing half of their assets and purchasing a guaranteed income product with the other half.
Mike Sasso, with Portfolio Evaluations, and a professor at Boston University, explained a new way of thinking to get plan sponsors to focus on retirement income for participants.
A professor at the UCLA Anderson School of Management discussed biases that must be considered when helping people make retirement income decisions.
The OASI Trust Fund is projected to become depleted in 2034, the same as last year’s estimate, according to this year's Trustees Report.
The ERISA Advisory Council’s recommendations to the Department of Labor (DOL) include publishing guidance confirming that a named plan fiduciary may appoint a 3(38) investment manager to select and monitor annuity and other lifetime income providers, as well as modifying qualified default investment alternative (QDIA) regulations.
In his experience leading Principal’s retirement income solutions business, Sri Reddy says, the No. 1 thing people get wrong about annuities is to say that purchasers of such products are investors.
Speakers at a Brookings Institution event agreed that a financial strength criterion asking how sound is an annuity carrier should be a critical part in any annuity selection safe harbor for defined contribution (DC) plan sponsors.
Tontines are a type of historical annuity structure that was first put into well-documented practice as far back as the 1600s.
401(k) consultants and advisers offer insight on the sentiments they are seeing from plan sponsors and make suggestions.
Lincoln's inaugural Consumer Retirement Index found only 25% of Americans are very confident about retirement, but there are steps that sponsors and advisers can take to improve this outlook, Jamie Ohl, president of the retirement business at Lincoln Financial Group, tells PLANSPONSOR.
A survey from AIG Life & Retirement found many people want to live to 100, but are concerned about their assets lasting that long; Robert Scheinerman, with AIG Retirement Services, offers suggestions for helping them prepare.
The Insured Retirement Institute also found that financial advisers and individuals are not considering the effects of health care costs and long-term care in planning for retirement.
Murray and Wyden’s letter to the IRS and Treasury asks why employers will be permitted to offload pension liabilities and transfer risk to retirees.
Seventy-seven percent of Americans think Congress should do more to expand access to retirement plans, while 83% favor making it easier to save for retirement, and 69% think policymakers should support solutions that convert savings into an income stream.
If one adds annual spending figures, in today’s dollars, if you’re “average,” one can expect costs to be $414,000 over a lifetime.
According to Lori Dickerson Fouché, with TIAA, “The enhanced Retirement Profile tool shows TIAA annuity customers how the combination of lifetime income—such as fixed and variable annuities, Social Security or pensions—and systematic withdrawals have the potential to yield a steady and guaranteed retirement paycheck."
In addition, in a new 2019 State Retirement Security Blueprint, the Insured Retirement Institute (IRI) says the creation of state-run retirement plans is the wrong approach to addressing retirement security for all Americans.