TIAA suggests other options for helping retirement plan participants with retirement readiness.
Tag: Retirement Readiness
In spite of increased optimism, a new Wells Fargo survey finds a significant portion of workers still say they do not think they will reach their savings targets; many of them cite the challenge of meeting high health care costs while also saving.
Ultimately, a true revolution in financial fitness requires a “triple play”—that is, a combined approach between governments, employers and employees.
After being educated about the option, only 13% of employees said they would likely opt out of an auto-IRA run by their state.
“While Millennials are saving, most are not planning," observes IRI President and CEO Cathy Weatherford.
One of the first indicators investors will see on their new home page is a personalized recommendation for improving retirement readiness.
Data suggests that Millennials will make up 75% of the workforce by the year 2025.
Among Millennials, women are making less income and saving less for retirement, Wells Fargo Asset Management finds.
“People are living longer than at any other time in history,” observes Catherine Collinson of Transamerica. “It’s hardly surprising that many workers envision working past age 65 and some do not plan to retire at all.”
Discussing a new Wells Fargo tool, the Outcome Optimizer, the firm’s director of relationship management suggests granting plan sponsors a view into the performance of peers’ plans is a powerful motivator.
A significant amount of small businesses lack a retirement plan; however, a new study by LPL Financial suggests certain tax-incentive adjustments could encourage them to change.
The key to helping Gen X is to try to banish apathy, according to new FICO research.
The average U.S. worker eats more than half his meals on the job and spends several hours a week at work managing his finances or other personal responsibilities.