There’s a bold fix to America’s broken retirement system

By Theresa Ghilarducci Source: Pensions & Investments In March, Blackrock CEO Larry Fink made headlines with a shareholder letter warning about our broken retirement system, noting that "nearly half of Americans aged 55 to 65 reported not having a single dollar saved in personal retirement accounts. Nothing in a pension. Zero in an IRA or 401(k).” The American worker knows the retirement system is broken and they don’t like it. In a recent national survey, 79% of those who [...]

2024-05-22T14:27:59-07:00May 21st, 2024|Categories: Retirement|Tags: |

What Do Women Think About Retirement?

Source: National Institute on Retirement Security Women face an uphill climb when it comes to preparing for retirement. They earn less than men, often take time away from the workforce for caregiving, they live longer, and are less likely to have access to a retirement plan at work. In fact, U.S. Census Bureau data show that half of women ages 55 to 66 have no personal retirement savings. What Do Women Think About Retirement? is a research infographic that [...]

2024-05-08T09:45:14-07:00May 8th, 2024|Categories: Retirement|Tags: , |

Women Express Concern about Retirement Crisis, Long-Term Care Costs

By Remy Samuels Source: Plan Sponsor When asked if the U.S. faces a retirement crisis, 80% of women agreed that it is indeed a disaster in the making, and even more women agreed that employers should be contributing more money to workers’ retirement plans, according to data from Greenwald Research and the National Institute on Retirement Security.  As women still, on average, earn less than men, often take time away from the workforce for caregiving and tend to live [...]

2024-05-01T14:16:46-07:00May 1st, 2024|Categories: Retirement|Tags: |

Baby boomers are hitting “peak 65.” Two-thirds don’t have nearly enough saved for retirement.

By Aimee Picchi Source: CBS News The nation is rapidly approaching "peak 65" as younger baby boomers turn 65 this year, initiating the biggest wave of retirements in U.S. history. Yet most of those Americans are financially unprepared to stop working, and many risk living in poverty, according to a new analysis. The retirements of the youngest boomers — those born between 1959 and 1965 — are likely to reshape the U.S. economy, and not in entirely positive ways, [...]

2024-04-19T11:29:11-07:00April 18th, 2024|Categories: Retirement|Tags: , |

Retirement crisis looms as Americans struggle to save

By Nicole Goodkind Source: CNN Eric Payne, a 37-year-old single father to two boys, works hard to stretch his paycheck each week. It’s a task he refers to as “clicking.” He makes a good salary – in the $80,000 range – but by the time all of the essential expenses have clicked into place, there’s not much left to spare. “The clicking is for day-to-day operations,” explained Payne, who works as the director of quality assurance for a seafood [...]

2024-04-03T16:30:17-07:00April 2nd, 2024|Categories: Retirement|Tags: |

Here’s how much Americans say they need to retire — and it’s 53% higher than four years ago

By Aimee Picchi Source:CBS News Americans have lofty goals for their retirement, with the typical worker believing they need $1.46 million to retire comfortably — a jump of 53% from their savings target in 2020, according to a new survey from Northwestern Mutual. But most people are far from reaching that objective, with the study finding that the average amount held in a retirement account today is just $88,400. That means that the typical worker has a $1.37 million gap [...]

2024-04-11T08:54:30-07:00April 2nd, 2024|Categories: Retirement|Tags: |

How a New Rule Could Change the Way Advisers Handle Your Retirement Money

Source: The New York Times It seems like an issue everyone can agree on: Financial professionals should be required to handle our retirement money with the utmost care, putting investors’ interests first. But that type of care comes in degrees, and deciding exactly how far advisers should go has been the center of heated debate for nearly 15 years, pitting financial industry stakeholders, who argue their existing regulatory framework is enough, against the U.S. Labor Department, the retirement plan [...]

2024-03-28T14:34:37-07:00March 28th, 2024|Categories: Retirement|Tags: |

Working in Old Age Can’t Be the Only Answer to the Retirement Crisis

By Peter Coy Source: The New York Times Teresa Ghilarducci, a labor economist, begins her new book with a story about an 82-year-old cashier at Walmart who was able to retire — finally — after a customer started a GoFundMe campaign for him that blew up on social media. “Is this what America’s retirement system has come to?” she asks. “Are we heading for a TikTok pension system?” Ghilarducci argues that working longer is not the solution to America’s [...]

2024-03-18T11:41:54-07:00March 15th, 2024|Categories: Retirement|Tags: , |

Closing The Gender Pension Gap: Challenges And Solutions For Women In Public Service

By Maria French Source: National Public Pension Coalition Women’s History Month presents an opportunity to honor and recognize the invaluable contributions of women throughout our nation’s history. However, it also serves as a time to reflect on areas where advancements in gender equality are still needed. Today, we delve into a critical aspect of women’s financial well-being: ensuring a secure retirement through pensions. Enduring Challenges Women in the workplace face distinct challenges in securing their retirement. Research from the [...]

2024-03-12T08:42:54-07:00March 7th, 2024|Categories: Retirement|Tags: , |

DB vs. DC: Wednesday Senate Hearing Dives Deep Into ‘Retirement Crisis’

By Brian Anderson Source: 401(k) Specialist That’s how Sen. Bernie Sanders (I-VT), Chair of the Senate Health, Education, Labor, and Pensions (HELP) Committee, kicked off a hearing in Washington Wednesday titled, “Taking a Serious Look at the Retirement Crisis in America: What Can We Do to Expand Defined Benefit Pension Plans for Workers?” Most speakers during the 90-minute hearing expressed a desire for a shift back to defined benefit pension plans while other speakers, including HELP Committee ranking member [...]

Lawmakers, experts agree U.S. retirement system needs fixing, differ on how

By Courtney Degen Source: Pensions & Investments Policymakers and experts seem to agree that the U.S. retirement system needs reform, but opinions varied widely when discussing what changes are needed at a Senate hearing Feb. 28. "As a result of a relentless 40-year war on the working class waged by corporate America, traditional pension plans have become an endangered species, on their way to extinction," said Sen. Bernie Sanders, I-Vt., who chairs the Senate Committee on Health, Education, Labor [...]

2024-02-28T16:53:27-08:00February 28th, 2024|Categories: Retirement|Tags: |

Americans want pension plans, worry about retirement security – NIRS

By Rob Kozlowski Source: Pensions & Investments National anxiety about retirement security continues to grow, and the vast majority of Americas believe all workers should have a pension plan, according to a new report from the National Institute for Retirement Security. According to the report, 79% of respondents to a national public opinion poll of working-age Americans believe that the nation faces a retirement crisis, up from 67% that expressed that sentiment in 2020, the last time NIRS conducted [...]

2024-02-27T15:07:05-08:00February 27th, 2024|Categories: Retirement|Tags: , |

Labor economist Teresa Ghilarducci highlights retirement system pitfalls

By Brian Kroce Source: Pensions & Investments Too many Americans are working longer — to the detriment of their health and well-being — without achieving retirement security because the retirement system in place has left them behind, according to labor economist Teresa Ghilarducci. "The system that we have experimented with for the past 40 years, which I call it a 'do-it-yourself, voluntary, individual-directed, commercially based system with top-heavy tax breaks,' has mostly failed," Ghilarducci said at the National Institute [...]

2024-02-27T12:18:53-08:00February 27th, 2024|Categories: Retirement|Tags: , |

High Retirement Anxiety Continues Among Americans: Survey

By Ted Godbout Source: National Association of Plan Advisors Just as Congress gets ready to debate whether there is a “retirement crisis,” new survey results from an organization supportive of restoring defined benefit plans finds that Americans are increasingly worried about retirement. According to the survey results from the National Institute on Retirement Security (NIRS), when asked whether the nation faces a retirement crisis, roughly 8 in 10 respondents (79%) agreed that there is a crisis, up from 67% [...]

2024-02-28T09:32:01-08:00February 27th, 2024|Categories: Retirement|Tags: , , |

Pensions funds mull greater role in participants’ lives

By Sophie Baker Source: Pensions & Investments A handful of pension funds are thinking more carefully about the value they add for their participants and the role they play in their lives — beyond writing checks — through so-called social infrastructure. The emerging trend goes further than buying up assets that are beneficial to the pension fund's local community, such as investing in affordable housing and hospitals — a well-trodden path by many, sources said. Rather, it's about thinking [...]

2024-02-02T14:01:55-08:00February 2nd, 2024|Categories: Retirement|Tags: , |

Generation X Expresses Doubt In a Dream Retirement

By Amanda Umpierrez Source: 401(k) Specialist Generation X workers are increasingly doubting their ability to achieve a dream retirement in the future. Latest findings from Schroders’ 2023 U.S. Retirement Survey found that non-retired Americans between the ages of 43 and 58 face shortcomings with their future retirement income. On average, respondents said they would be comfortable with $1,112,183 in retirement savings, yet they expect to have just $661,013 saved—the largest gap of the three age groups surveyed. Millennials (ages [...]

2023-12-15T10:54:45-08:00December 15th, 2023|Categories: Retirement|Tags: , , |

Most nearing retirement will need to make ‘significant’ lifestyle cuts

By Craig Lord Source: Global News Canada A wave of Canadians gearing up for retirement will be forced to make “significant” cuts to live comfortably for the rest of their lives, an analysis from Deloitte Canada shows. The report released Wednesday looked at the finances of 4,000 Canadians between 55 and 64 years old to gauge their “retirement readiness.” Hwan Kim, a partner at Deloitte Canada, notes this group is particularly large right now with three million Canadians in [...]

2023-11-30T16:50:25-08:00November 29th, 2023|Categories: Retirement|Tags: , |

IBM unveils details of retirement benefit account

By Robert Steyer Source: Pensions & Investments International Business Machines has provided details to employees of the company's scrapping its 401(k) corporate match and replacing it with a cash balance component called a retirement benefit account, which is part of the IBM Personal Pension Plan, a defined benefit plan. The RBA information is contained in the 2024 IBM U.S. Benefits Guide. The company confirmed earlier this month that the RBA would replace the 5% match for the 401(k) plan [...]

2023-11-28T08:38:48-08:00November 27th, 2023|Categories: Retirement|Tags: , , |

The Pension: That Rare Retirement Benefit Gets a Fresh Look

By Martha C. White Source: The New York Times In an economy characterized by a volatile stock market and elevated inflation, a sure thing looks better than ever. For some Americans in the labor force right now, that looks like a pension. Striking members of the United Automobile Workers union made waves this year when the union’s leaders demanded the reopening of defined-benefit pension plans for workers hired after late 2007. Although U.A.W. leadership failed to persuade automakers to [...]

2023-11-27T09:04:35-08:00November 24th, 2023|Categories: Retirement|Tags: |

Millennials Surpass Older Workers with Retirement Savings

By Amanda Umpierrez Source: 401K Specialist Despite facing financial retirement planning hurdles, Millennials are coming out on top with their retirement savings. That’s the latest finding from Vanguard’s newest Retirement Readiness report, released today, which finds Millennials workers are set to replace 58% of their prior earnings during retirement, and eight percentage points over what was estimated for Baby Boomers. Using its new forecasting tool, the Vanguard Retirement Readiness Model (VRMM), Vanguard divides its cohorts into three generations: early [...]

2023-10-06T15:46:57-07:00October 3rd, 2023|Categories: Retirement|Tags: , |

Public DB pensions key to supporting women, BIPOC workers in retirement

Source: Benefits Canada Public defined benefit pension plans can play a critical role in delivering adequate retirement income for U.S. retirees, while providing a key buffer against economic hardship for women, the Black, Indigenous and people of colour communities and workers without a college degree, according to a new report by the National Institute on Retirement Security and the UC Berkeley Labor Center. The report, which analyzed pension data collected by the U.S. Census Bureau between 2019 and 2021, [...]

2023-09-20T16:51:28-07:00September 18th, 2023|Categories: Retirement|Tags: , , |

Gen Xers Profess Low Retirement Confidence, Concerns About Guaranteed Income

By Remi Samuels Source: Plan Sponsor Generation X employees, more than those of any other generation, are worried about their retirement savings lasting throughout their lifetime and worry they cannot rely on Social Security according to research from the Insured Retirement Institute.   Gen Xers, between the ages of 41 and 56, are significantly less likely to expect retirement income from a public or private pension than Baby Boomers or current retirees, IRI found, and many believe they will [...]

2023-07-18T11:54:49-07:00July 7th, 2023|Categories: Retirement|Tags: , |

Baby boomers more pessimistic about future generations’ retirement outlook

By Margarida Correia Source: Pensions & Investments Baby boomers are not optimistic about the retirement prospects of future generations, according to a survey released Thursday by non-profit Transamerica Center for Retirement Studies. More than half, 55%, believe that future retirees will be worse off than those currently in retirement, the survey found. The pessimism eased among younger workers. Only 28% of Generation Z and 33% of millennials saw future retirees as being worse off. A little more than half [...]

2023-07-06T11:08:41-07:00July 6th, 2023|Categories: Retirement|Tags: , , , |

NIRS to hold webinar on Alaska’s experience moving public employees from pensions to defined contribution plans

Source: National Institute on Retirement Security Please join us for a webinar on Monday, June 12, 2023, at 2:00 PM ET, Alaska's Experience Moving Public Employees from Pensions to Defined Contribution Plans. Click here to register. In 2005, Alaska closed its two statewide defined benefit pension plans for teachers and public employees. Since July 1, 2006, all new Alaska hires participate in a defined contribution plan rather than a pension plan. The retirement plan change has had the unintended [...]

2023-06-07T13:00:40-07:00June 7th, 2023|Categories: Retirement|Tags: , , |

Controversial super-priority pension bill receives royal assent

By Gideon Scanlon Source: Benefits Canada A controversial law giving super-priority to defined benefit pension plan members during plan windups and insolvencies is coming into effect after receiving royal assent from Governor General Mary Simon. While Bill C-228 received royal assent at the end of April, most of its measures won’t come into force for another four years. However, the requirement that all federally regulated pension plans produce annual reports on plan solvency is now in effect. Marilyn Gladu, [...]

2023-05-03T14:20:11-07:00May 2nd, 2023|Categories: Retirement|Tags: , |

Alaska Teacher Recruitment and Retention Study: Options and Analysis Supporting Retirement Plan Design

Source: National Institute on Retirement Security A report delivered to the Alaska Department of Education reviews the impacts of various retirement benefit offerings on the recruitment and retention of Alaska’s public education employees. Alaska Teacher Recruitment and Retention Study: Options and Analysis Supporting Retirement Plan Design, finds that switching Alaska’s public employees from defined benefit pension plans to 401(k)-style defined contribution accounts resulted in more public educators leaving their positions. The research comes as teacher shortages plague Alaska and [...]

2023-05-03T13:42:44-07:00April 28th, 2023|Categories: Retirement|Tags: , |

Defined Benefit Pensioners Win Battle for Pension Protection

Source: Yahoo! Finance Yesterday marks a historic victory for the protection of Canadian pensioners. Bill C-228, An Act to amend the Bankruptcy and Insolvency Act, the Companies' Creditors Arrangement Act and the Pension Benefits Standards Act, 1985passed third reading in the Senate, and awaits Royal Assent. "This landmark legislation will protect millions of Canadians who rely on defined benefit pensions for their financial security in retirement," said Michael Powell, President, Canadian Federation of Pensioners, whose organization led the charge [...]

2023-05-03T13:44:28-07:00April 19th, 2023|Categories: Retirement|Tags: , |

U.S. workers want government to require employers to offer retirement plans

By Margarida Correia Source: Pensions & Investments American workers favor government mandates requiring employers to offer retirement plans and make matching contributions, according to a new survey released Tuesday by Natixis Investment Managers. More than 4 in 5 workers (81%) said that employers should be required to offer workplace retirement savings plans, with millennials voicing the greatest support for such a mandate (88%) followed by Generation X (79%) and baby boomers (70%). More than 3 in 5 workers (78%) [...]

2023-05-03T13:48:59-07:00April 18th, 2023|Categories: Retirement|Tags: , |

State-run retirement savings programs may fuel launch of private plans, Pew study says

By Margarida Correia Source: Pensions & Investments State-run retirement savings programs may be boosting the creation of new private-sector plans, according to a study from the Pew Charitable Trusts released Friday. Businesses in California, Illinois and Oregon — the first three states to launch state-facilitated programs to help private-sector workers without workplace plans save for retirement — continued to launch new plans in 2021 at rates similar to or exceeding those in states without such programs, the study found. [...]

2023-04-17T16:20:08-07:00April 17th, 2023|Categories: Retirement|Tags: , |

Thousands of Chinese Retirees Protest Government Cuts to Benefits

By Keith Bradsher, Daisuke Wakabayashi and Claire Fu Source: The New York Times Thousands of retirees confronted local officials and the police outside a popular park in the central Chinese city of Wuhan to demand the repeal of recent cuts in government-provided medical insurance for seniors. The protest on Wednesday, the second in Wuhan in a week, was the latest sign of strain on the finances of China’s local governments, which are responsible for covering much of the cost [...]

2023-02-16T08:52:15-08:00February 16th, 2023|Categories: Retirement|Tags: , |

Historic down year puts retirement plans on notice

By Rob Kozlowski Source: Pensions & Investments U.S. retirement plans could not escape historically negative equity and fixed-income markets during the year ended Sept. 30 and posted the highest-percentage asset losses in nearly half a century of Pensions & Investments'annual surveys. In the year ended Sept. 30, the 1,000 largest U.S. retirement funds saw their assets plummet to $12.16 trillion, a record-setting 13.9% loss from a year earlier when the universe had reached an all-time high of $14.13 trillion. [...]

2023-02-16T08:50:34-08:00February 16th, 2023|Categories: Retirement|Tags: |

The stupid and dishonest idea of raising the Social Security retirement age is back

By Michael Hiltzik Source: The Los Angeles Times The people who are in the forefront of pushing Social Security “reform” by cutting benefits have gotten pretty good at hiding their intentions behind plausible-sounding jargon and economists’ gibberish. The latest “reform” package offered by the Committee for a Responsible Federal Budget, for example, calls on lawmakers to “promote stronger economic growth and productive aging” by removing “work and savings disincentives in the current program.” “Productive aging” — that’s a good [...]

2023-02-02T15:18:34-08:00February 2nd, 2023|Categories: Retirement|Tags: |

As France Moves to Delay Retirement, Older Workers Are in a Quandary

By Liz Alderman Source: The New York Times During her 38-year career as a sales and marketing manager, Christine Jagueneau rarely thought about retirement. But when her job at a French industrial company was eliminated just before her 59th birthday last February, the idea of tapping her pension took on unexpected urgency. Despite nearly a dozen job interviews, she said, employers have suggested that she’s too old to be hired. She has just enough savings to coast to France’s [...]

2023-01-18T15:54:40-08:00January 18th, 2023|Categories: Retirement|Tags: , , |

New DOL Proposal Would Allow Fiduciaries to Self-Correct Certain Errors

By Paul Mulholland Source: PlanSponsor The Department of Labor has proposed a rule, released on November 21, that aims to simplify and expand its Voluntary Fiduciary Correction Program. If adopted, the rule new would allow fiduciaries to self-correct for participant contributions that are not invested or participant loan repayments that are not repaid and then notify the DOL after the fact. Under current rules, fiduciaries have to apply to the DOL for permission to correct the issue. Other erroneous [...]

2022-12-08T08:12:31-08:00December 8th, 2022|Categories: Retirement|Tags: , , |

Protecting and Expanding Retirement Options for America’s Workers

By Kathleen Kennedy Townsend Source: DOL Blog When it comes to retirement in America, there is good news and bad news. On June 2, the Trustees of the Social Security trust fund issued their annual report on the state of this key safety net. The report found that, in part due to faster growth in employment, earnings and economic growth than expected, and the passage of the American Rescue Plan, the trust fund can pay out benefits longer than [...]

2022-10-26T15:29:21-07:00October 26th, 2022|Categories: Retirement|Tags: |

How employers can help shrink Canada’s gender pension gap

By Sadie Janes Source: Benefits Canada Canada’s gender pension gap is growing as Canadian women received an average of 18 per cent less retirement income than men in 2020, according to a report by Ontario’s pay equity office. It found the gap is more pronounced among women in visible minority groups (37 per cent), among sources of private retirement income (28 per cent) and is three per cent higher than the 15 per cent gap observed in 1976, the earliest [...]

2022-10-10T16:22:49-07:00October 10th, 2022|Categories: Retirement|Tags: , , |

The truckers’ triumph: The incredible story of how a scrappy group of blue-collar retirees rescued their pensions

By Elanor Laise Source: MarketWatch After a long, loud battle, the victory has come quietly. Over the past few months, deposits have started appearing in the accounts of former truckers, iron workers and other retirees across the country–restoring pension benefits that these people had earned after decades working some of America’s most back-breaking jobs, only to have them ripped away in their retirement years. The restored benefits started flowing earlier this year to retired union workers from New Jersey [...]

2022-10-06T09:47:14-07:00October 6th, 2022|Categories: Retirement|Tags: , |

State pension age could rise to 68 ‘by 2035’ – leaving millions waiting longer for payment

By Temie Laleye Source: Express UK Prime Minister Liz Truss is considering increasing the age for claiming the state pension to 68 by mid-2030. This is more than a decade sooner than the current policy. Under the current plans, it will not rise to 68 until 2046 — which means it will affect anyone born after 1977. Read the full article

2022-10-05T14:14:39-07:00October 5th, 2022|Categories: Retirement|Tags: , |

Social Security’s Cost-of-Living Increase Will Be Largest in Four Decades, an Estimate Says

By Mark Miller Source: The New York Times More than 70 million Americans who receive Social Security benefits can expect an inflation adjustment to their monthly checks next year that will be the largest in four decades. Government inflation figures for August, released on Tuesday, point to a Social Security cost-of-living adjustment, known as the COLA, of 8.7 percent, according to an estimate by a nonpartisan group that lobbies for seniors. The Social Security Administration will announce the final [...]

2022-10-05T14:10:04-07:00October 5th, 2022|Categories: Retirement|Tags: , |

The U.S. retirement system gets a ‘C+’ grade, experts say — even though it’s worth $39 trillion. Here’s why

By Greg Iacurci Source: CNBC The U.S. retirement system may seem flush — yet it ranks poorly in relation to those in other developed nations. Collectively, Americans had more than $39 trillion in wealth earmarked for old age at the end of 2021, according to the Investment Company Institute. However, the U.S. places well outside the top 10 on various global retirement rankings from industry players, such as the Mercer CFA Institute Global Pension Index and Natixis Investment Managers [...]

2022-09-23T16:16:41-07:00September 23rd, 2022|Categories: Retirement|Tags: |

Retirement plan portability a key issue, DOL roundtable speakers say

By Margarida Correia  Source: Pensions & Investments The need to make workplace retirement plans portable and more accessible emerged as one of the top themes in a spirited roundtable discussion the Department of Labor hosted Monday in New York with legislators, labor leaders, investment fund managers, educators and other industry stakeholders. "Every single American worker should be able to retire with security," Labor Secretary Marty Walsh said. "No one should have to worry about outliving their money and living [...]

2022-08-22T14:33:01-07:00August 22nd, 2022|Categories: Retirement|Tags: , |

Retirement Industry People Moves

By DJ Shaw Source: Plan Sponsor Schroders Announces Strategic Changes to U.S. Distribution Team Global asset manager Schroders has announced new hires and leadership changes to the American distribution team. Tiffani Potesta will be taking on the role of head of U.S. distribution, overseeing strategy and implementation for distribution across regions. Potesta will continue serving in her current role as chief strategy officer, in which she oversees marketing, product and sustainability. Mike Swinney has joined Schroders as consultant relations director, [...]

2022-08-22T09:03:21-07:00August 22nd, 2022|Categories: Retirement|Tags: |

Market Cynicism Has Increased Retirement Anxiety

By Noah Zuss Source: Plan Sponsor Amid heighted pessimism about financial markets and global political tensions, Americans are increasingly worried about the effects to their retirement savings, according to research from the Allianz Life Insurance Company of North America. The “2022 Q1 Quarterly Market Perceptions Study” found that 47% of respondents said the economy will improve in 2022, down from 54% in 2021’s first quarter and 66% in 2022’s fourth quarter, while 79% are concerned that current world tensions will cause [...]

2022-08-22T09:00:20-07:00August 22nd, 2022|Categories: Retirement|Tags: |

America’s $7 Trillion Retirement Crisis Is Only Getting Worse

By Suzanne Woolley Source: Bloomberg Americans have been warned for years of an impending retirement crisis. Yet the situation is getting worse. Even when everything was going right — inflation was nonexistent, interest rates were low and stocks were in an extended bull market — there was a multi-trillion dollar savings shortfall. Then came a pandemic, war in Europe, decades-high inflation, the fastest rate-hiking cycle since the early 1980s and fears of a recession. The resulting market turmoil erased some $3.4 trillion from 401(k)s and IRAs [...]

2022-08-16T10:47:46-07:00August 16th, 2022|Categories: Retirement|Tags: |

How Unions Pave the Path to Elder Security

Source: American Society on Aging Despite America’s vast wealth, more than 15 million older Americans—one-third of people ages 65 and older—are “economically insecure,” meaning they are poor or near-poor, according to the National Council on Aging. Half of all Black and Latinx people ages 65 and older are in this precarious situation, and older women are especially likely to be poor. These financially fragile older Americans “struggle with rising housing and health care bills, inadequate nutrition, lack of access [...]

2022-08-16T08:58:53-07:00August 16th, 2022|Categories: Retirement|Tags: , , |

Workers Worry About Retirement Income as Prices Spike

By Noah Zuss Source: Plan Sponsor Market volatility and rising prices are driving two-thirds of workers surveyed to feel more anxiety about their retirement income, the Nationwide Retirement Institute Social Security Consumer Survey shows. The concerns have led to a 10 percentage-point spike in anxiety among those surveyed from 2021, the survey found. Highlighting workers’ worries about retirement income, individuals are also anxious about Social Security, Nationwide found. Across generations, 70% of workers worry that Social Security will run [...]

2022-08-16T08:55:58-07:00August 16th, 2022|Categories: Retirement|Tags: , |

Pensions & Retirement Security

Source: National Education Association All educators deserve the ability to retire with financial security. Pensions provide educators with a guaranteed, reliable source of income in retirement. They are also a tool to attract and retain qualified, experienced educators to the profession. Schools and students succeed when talented young people in search of a challenging career are recruited into the profession, and stay in it for the long term. Pensions help do that. Pensions provide excellent retirement security. A traditional pension [...]

2022-06-29T16:18:32-07:00June 29th, 2022|Categories: Retirement|Tags: , |

Are Millennials on Track for a Secure Retirement?

By Ed McCarthy Source: Plan Sponsor Millennials — those born between 1981 and 1996 — are now the largest demographic group by age in the U.S. The oldest Millennials have reached age 41, which lands them in the decade when adequate retirement savings become more important. So how well are they doing with their retirement plans? Multiple Challenges Angie O’Leary, head of wealth planning with RBC Wealth Management–U.S. in Minneapolis-St. Paul, says that Millennials have multiple financial worries that can create [...]

2022-06-07T13:56:44-07:00June 7th, 2022|Categories: Retirement|Tags: , |

Jaw-Dropping Stats About the State of Retirement in America

By Jordan Rosenfeld Source: Yahoo! Finance Many Americans spend their lives working hard and dreaming of the day they can finally retire. But planning for retirement requires more than dreaming -- it means being strategic and focused on saving money, among other things. The average age of retirement for Americans is 66, according to a Gallup poll, which is up from age 60 in the 1990s. With Americans living an average of 78.7 years, that's a good 12 or [...]

2022-05-03T13:41:57-07:00May 3rd, 2022|Categories: Retirement|Tags: |
Go to Top