Its objective is to educate Americans about the importance of protected lifetime income solutions.
Tag: Retirement Income
EBRI’s Lori Lucas tells PLANSPONSOR National Conference attendees that retirees actually spend less than the industry suggests employees save for retirement, and there are different reasons for that.
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.
Prudential Financial experts anticipate Social Security’s funding shortfall will likely result in program changes over time, such as reducing cost-of-living adjustments, raising the full retirement age beyond 67 or cutting benefits.
Data from Morningstar demonstrates variable annuity net assets fell 1.6% to $1.95 trillion during the first quarter of 2018, versus fourth quarter 2017 net assets of $1.99 trillion; still, experts anticipate sales to recover as regulatory pressure and uncertainty ease.
According to the Social Security Board of Trustees, the total annual cost of the federal benefits program is projected to exceed total annual income in 2018 for the first time since 1982, and remain higher throughout the 75-year projection period.
Bing Waldert, a managing director with Cerulli Associates, says, "converting the 401(k) plan to an income platform is a step in taking DB [defined benefit] market experience and applying it to the 401(k) market.”
Target-date fund designs should take into account the risks retirement plan participants face—how to correlate and corral the evolving sources of market, event, longevity, inflation and interest rate risks.
The blueprint calls for nine design features of the new contract.
Most of those ages 85 and over are comfortable with their finances for a couple of reasons, a survey from the Society of Actuaries finds.
Projected retirement income can now be viewed at both the plan and participant level.
As skilled Baby Boomer employees begin to reach the traditional retirement age, employers need to examine their policies and procedures to address the potential loss of talented and experienced workers.
Eighty percent of American workers surveyed said they would like to hear congressional candidates discuss retirement security.
A report suggests, “The need to maintain a sufficient allocation to stocks can be reconciled with the reticence to do so of the risk averse investor by moving a portion of the retirement portfolio into structured annuities and/or annuities with guaranteed lifetime income or withdrawal features.”
One clear point of concern in the data is the increasing number of Americans who anticipate retiring at 70 years or older than in the “traditional 65 to 69 range.”
Empower identified “habits of success” that correlate with higher projected retirement income—saving in a workplace retirement plan, saving at a higher level and having a formal plan for retirement.
BlackRock Managing Director Anne Ackerley, in conversation with PLANSPONSOR, explains new opportunities to deliver retirement income solutions to plan participants, including through the QDIA.
A speaker at PSCA’s 71st Annual National Conference suggests reports of Americans retirement savings inadequacy are overblown and offers data to back that up.
Paying off debt is their second greatest fear, Franklin Templeton found in a survey.