A report from Aegon discusses retirement planning habits of workers in physically demanding jobs and how plan sponsors can help them be retirement ready.
Tag: Retirement Readiness
Experts discuss how plan sponsors can get participants out of retirement savings "ruts" and get them to engage more with their retirement plans.
The majority of retirement plan participants surveyed said they have knowledge about their retirement plan and fees, but while the majority also said they know they need to save at least 10% of their salary, many are not doing so.
Those married or partnered are more likely to place a high priority on saving for retirement than single individuals (64% vs. 52%) whose financial priorities are more likely focused on being able to afford everyday bills (74% vs. 67%).
The Society of Actuaries says financial wellness programs need to be designed so individuals of different fragility levels can connect to what is useful and important to their situation.
The strain of supporting other family members financially is taking a toll, PNC learned in a survey.
The new National Tax-Deferred Savings Association education program is delivered via certified retirement education specialists and is vendor-neutral.
Eighty percent of Americans polled by the NIRS think the government should make it easier for employers to offer pensions, and more than half think the government needs to increase Social Security contributions from both employers and workers.
An online digital toolkit includes sample content for blogs, emails, newsletters, and more.
CRR researchers find health shocks play the largest role in causing early retirements, both because people in bad initial health overestimate how long they can work and because health often worsens before the age at which they planned to retire.
Recommendations included conducting a comprehensive review of the American retirement system, educating small employers about plan options, allowing for open multiple employer plans (MEPs), changing certain defined contribution (DC) plan rules to facilitate greater savings, and increasing financial and retirement education, especially for women.
A new EBRI research report compares the outcomes of participants in automatic enrollment 401(k) plans versus defined benefit (DB) plans; when reducing the rate of return assumptions and utilizing current annuity purchase prices, results show that in many cases the automatic enrollment 401(k) plans lose their comparative advantage to the stylized, final-average DB plans.
BlackRock says easy-to-use investment solutions could help alleviate both financial and emotional barriers to saving and investing for the long term that were revealed in its Global Investor Pulse survey.
A survey found retirees have better financial habits than those who are employed.
Defined contribution (DC) retirement plan eligibility and auto portability can have a large impact on reducing retirement savings shortfalls, the Employee Benefit Research Institute (EBRI) found.
Both groups have saved or are on track to save $700,000 or less; however, Boomers think that is adequate savings, while Gen Xers do not.
Employers have a dual concern about losing skilled workers and increasing benefit costs from employees who retire too late.
A new EBRI analysis shows purchases of a deferred income annuity at age 65 (deferring 20 years with no death benefits) result in an overall improvement in retirement readiness when purchasers annuitize 5%, 10%, 15%, and 20% of their 401(k) balance.