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 [...]

8 11, 2019

Latest Senate attempt to move on SECURE Act fails

2019-11-08T08:23:56-08:00November 8th, 2019|Categories: Retirement|Tags: |

Requests to consider the SECURE Act via unanimous consent were rejected Thursday, as the sweeping retirement package remains in state of limbo. Sen. Pat Toomey, R-Pa., took to the Senate floor and proposed the body consider the Setting Every Community up for Retirement Enhancement Act of 2019, which the House overwhelming approved in May, along with five amendments apiece from Republicans and Democrats. He also proposed setting a 10-hour debate limit on the bill and 30 minutes of debate [...]

6 11, 2019

Corporate America Pushes for SECURE Act Passage

2019-11-06T16:09:01-08:00November 6th, 2019|Categories: Retirement|Tags: |

A group of more than 90 CEOs and senior executives from leading American corporations and business groups has issued a public letter calling on the U.S. Senate to pass the Setting Every Community Up for Retirement Enhancement Act, commonly referred to as the SECURE Act. The plea, addressed both to Senate Majority Leader Mitch McConnell and Senate Minority Leader Chuck Schumer, comes some six months after the U.S. House passed its version of the SECURE Act with a nearly [...]

20 09, 2019

Half of UK residents are confident they can retire comfortably

2019-09-20T16:38:39-07:00September 20th, 2019|Categories: Retirement|Tags: , |

Half (52%) of UK individuals are confident about their ability to retire comfortably, compared to 48% who agreed with this in 2017, according to research by Aegon. The Retirement confidence survey, which polled 830 UK residents, further found that 10% of individuals do not have any pension savings, while 36% have never estimated their income needs for retirement; this compares to 43% who had not done this in 2017. In addition, 25% of those respondents who do have pension savings [...]

2 08, 2019

Half of California workers have no retirement savings, says UC Berkeley report

2019-08-02T16:17:32-07:00August 2nd, 2019|Categories: Retirement|Tags: , |

Many Californians may sink into downward mobility in their golden years because of a lack of retirement savings, says a new report by Berkeley’s Center for Labor Research and Education. About half of California private sector employees ages 25 to 64 don’t have dedicated retirement savings, according to a new report by Nari Rhee, director of the Retirement Security Program at the University of California, Berkeley’s Center for Labor Research and Education. The report provides a rare look at [...]

1 07, 2019

3 Hard to Believe — but 100% True — Facts About Social Security

2019-07-01T16:21:44-07:00July 1st, 2019|Categories: Retirement|Tags: |

According to Democratic presidential candidate Bernie Sanders, "Social Security is the most successful government program in our nation's history." No matter your political preference, there's no denying Sanders' statement. Since payouts began in 1940, Social Security has been providing a financial foundation for tens of millions of Americans, many of whom are retired workers. As of today, according to an analysis from the Center on Budget Policy and Priorities, it's a program that singlehandedly keeps more than 22 million [...]

10 06, 2019

Washington Threatens to Change Retirement Planning Forever

2019-06-10T09:31:52-07:00June 10th, 2019|Categories: Retirement|Tags: , |

Lawmakers play a vital role in helping Americans save for retirement. The laws that members of Congress help put in place create incentives for certain behavior while discouraging other actions, and in the retirement context, the trend over the past several decades has moved toward greater personal responsibility. In particular, the shift from employer-provided pensions to workplace 401(k) plans and IRAs has put the responsibility to save enough for retirement in workers' hands. One benefit of the retirement accounts [...]

23 05, 2019

House overwhelmingly passes SECURE Act

2019-05-23T10:53:38-07:00May 23rd, 2019|Categories: Retirement|Tags: , |

A bipartisan majority in the House overwhelmingly approved Thursday a retirement reform package, 417-3. The legislation, the Setting Every Community up for Retirement Enhancement Act of 2019, referred to as the SECURE Act, includes provisions that make it easier for smaller employers to join open multiple-employer plans, eases non-discrimination rules for frozen defined benefit plans and adds a safe harbor for selecting lifetime income providers in defined contribution plans. The bill was introduced in late March by a bipartisan [...]

24 04, 2019

Confidence in Retirement Security Rebounds to Pre-Financial Crisis Levels

2019-04-24T10:50:14-07:00April 24th, 2019|Categories: Retirement|Tags: |

The 2019 Retirement Confidence Survey (RCS) finds 82 percent of retirees are confident in their ability to live comfortably throughout retirement, up from 75 percent last year and comparable to highs measured in 2005 and 2017. Furthermore, the percentage of workers who say they are very confident in their ability to live comfortably throughout retirement reached 23 percent, up from last year’s 17 percent and now reflecting levels measured more consistently in the late 1990s and early 2000s, prior [...]

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