18 02, 2021

Retirement Insecurity 2021: Americans’ Views of Retirement

2021-02-18T10:24:38-08:00February 18th, 2021|Categories: Retirement|Tags: |

A new report finds that across party lines, Americans are worried about concerns about their financial security in retirement. The vast majority of Democrats (70 percent), Independents (70 percent) and Republicans (62 percent) agree that the nation faces a retirement crisis. There also is bi-partisan agreement that the average worker cannot save enough on their own to guarantee a secure retirement, along with broad support for Social Security and pensions. This new national survey of working-age Americans also reveals [...]

11 12, 2020

Effects of COVID-19 Could Spark More Retirement Plan Litigation in 2021

2020-12-11T16:00:03-08:00December 11th, 2020|Categories: Retirement|Tags: |

Plan sponsors should keep a close watch on retirement plan litigation, as the effects of COVID-19 might spark new lawsuits. The market volatility experienced in March and April, coupled with the cybersecurity risks of remote work, could position some employers to face litigation in the new year, industry experts say. Smaller businesses, which normally lack the resources to invest in multifaceted cybersecurity measures and are therefore susceptible to cyber breaches, may be at risk, says Jordan Mamorsky, an ERISA [...]

28 10, 2020

Three Ways You Can Fight For Retirement Security During National Retirement Security Week (And Beyond)

2020-10-28T09:46:07-07:00October 28th, 2020|Categories: Retirement|Tags: , |

The National Association of Government Defined Contribution Administrators started National Retirement Security Week in 2006 to recognize the importance of a secure retirement, and it’s been observed during the third week of October each year since. This year, during the coronavirus-induced economic crisis, it’s more important than ever to protect the right to a secure retirement for all. Here are three ways you can fight for every American to retire with dignity during National Retirement Security Week (and beyond). [...]

14 10, 2020

Defined-benefit pension better option than lump sum

2020-10-14T11:35:58-07:00October 14th, 2020|Categories: Retirement|Tags: , |

My wife and I are retired, both aged 63. We own our home and a holiday house, which we could rent out if needed. We hold about $200,000 in shares and $100,000 in VicSuper. I am on a defined-benefit Emergency Services & State Super (ESSS) pension for life, paying $57,000 a year and, payable if I die, at about 70 per cent to my wife. I understand that, before I reach 65, the ESSS will offer a lump sum [...]

29 09, 2020

Retirement security trumps job security

2020-09-29T12:22:24-07:00September 29th, 2020|Categories: Retirement|Tags: , |

Canadian workers are still focused on having a good workplace retirement plan, despite the global pandemic, according to a recent survey. Fifty-five per cent say that they are concerned about retirement security compared to 44 per cent who are worried about job security, finds the survey of 3,500 Canadians, conducted between May 27 and June 5 for the Healthcare of Ontario Pension Plan (HOOPP). “It reinforced to us how important and top-of-mind retirement savings are for Canadians,” says Steven [...]

30 06, 2020

A Pandemic Problem for Older Workers: Will They Have to Retire Sooner?

2020-06-30T08:46:57-07:00June 30th, 2020|Categories: Retirement|Tags: , |

Dorian Mintzer loves her work. A 74-year-old psychologist, coach and author, she has no plan to retire, and has continued to work during the pandemic, doing teletherapy from her home in the Boston area. Now, like millions of other older working Americans, Dr. Mintzer is uncertain about the future of her job — much will depend on whether health insurers continue to cover teletherapy post-pandemic. “I’m going to keep working virtually — the idea of going into an office [...]

15 01, 2020

New Report Finds 40 Percent of Older Americans Rely Solely on Social Security for Retirement Income

2020-01-15T15:05:23-08:00January 15th, 2020|Categories: Retirement|Tags: , |

Only a small percentage of older Americans, seven percent, receive income from Social Security, a defined benefit pension, and a defined contribution account. Retirement income from these three sources is widely considered to be the ideal situation to ensure retirement security, particularly for the middle class. Retirees with these three sources of income are far less likely to face poverty and economic hardship. A new report also finds that a large portion (40 percent) of older Americans rely only [...]

10 01, 2020

Canadian pensions ‘envy of the world,’ OMERS chief says; Fund handles retirement of almost half a million active, retired employees

2020-01-10T14:09:13-08:00January 10th, 2020|Categories: Retirement|Tags: , , |

The new head of Ontario Municipal Employment Retirement System is feeling pretty confident about the pension fund's ability to find pockets of value this year. "The Canadian pension plans are the envy of the world in so many ways," Blake Hutcheson said in an interview with BNN Bloomberg. "It's been made OK to own platforms and buy and scale companies, giving us tremendous competitive advantage. It's been made OK to put teams together and pay them properly to compete [...]

25 11, 2019

CalPERS diversity strategy using strength in numbers

2019-11-25T08:33:43-08:00November 25th, 2019|Categories: Retirement|Tags: , , |

CalPERS has a well-developed plan to encourage diversity on public company boards on its own and as part of industry organizations, but when it comes to private companies, officials at the largest pension plan in the country are choosing to work as part of an industry group rather than go it alone. Asset owners haven't tackled the issue of diversity at private companies until relatively recently. But as the number of private companies choosing to stay private longer increases, [...]

18 11, 2019

Is retirement dying? The old work model is disappearing for boomers, Gen Xers

2019-11-18T11:35:19-08:00November 18th, 2019|Categories: Retirement|Tags: , |

More Americans are opting to work well into retirement, a growing trend that threatens to upend the old workforce model. One in three Americans who are at least 40 have or plan to have a job in retirement to prepare for a longer life, according to a survey conducted by Harris Poll for TD Ameritrade. Even more surprising is that more than half of “unretirees” – those who plan to work in retirement or went back to work after retiring – said [...]

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