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 [...]

23 04, 2019

U.S. elderly are twice as likely to work now than in 1985

2019-04-23T12:04:54-07:00April 23rd, 2019|Categories: Retirement|Tags: |

Just as single-income families began to vanish in the last century, many of America's elderly are now forgoing retirement for the same reason: They don't have enough money. Rickety social safety nets, inadequate retirement savings plans and sky-high health-care costs are all conspiring to make the concept of leaving the workforce something to be more feared than desired. For the first time in 57 years, the participation rate in the labor force of retirement-age workers has cracked the 20% [...]

15 04, 2019

Why 8,000 Is The Most Important Number For Your Retirement Plan

2019-04-15T14:34:56-07:00April 15th, 2019|Categories: Retirement|Tags: |

My Uber driver and I struck up a conversation about the Orlando traffic and weather. The chatter soon drifted into stories about his experiences living and driving in Florida. I soon learned my driver’s name was Bob. Raising his voice, and turning to get a look at my face in his rearview mirror, Bob asked me, “How old do you think I am?” I am always nervous to make such a guess — uttering a number either too old [...]

10 04, 2019

Employees think they’re on track for retirement. Here’s where they’re wrong

2019-04-10T09:57:04-07:00April 10th, 2019|Categories: Retirement|Tags: |

Most Americans believe they’re on track for a comfortable retirement, according to a study from Natixis Investment Managers out Thursday. They feel they’re saving enough to enjoy the life they envision in their golden years. For the most part, however, they’re wrong, says Ed Farrington, executive vice president of U.S. distribution at the asset manager. In truth, not only are most workers not saving enough, but the amount they’ve salted away becomes more worrying as they age. That’s not [...]

29 03, 2019

Employees Want Congress and Employers to Help Them With Retirement Readiness

2019-03-29T16:03:27-07:00March 29th, 2019|Categories: Retirement|Tags: |

The Prudential American Workers Survey found that 70% of American workers have felt stressed over their financial security in the past year, and 65% expect they will continue to feel financially stressed over the next five years. Sixty-eight percent are concerned that they will not have enough saved to live comfortably in retirement, and 82% of working parents are worried about their children's financial security as they grow up. Workers at companies of varying sizes were asked whether their [...]

27 03, 2019

29% Of U.S. Workers Have No Pension Or Retirement Savings Plan

2019-03-27T15:38:16-07:00March 27th, 2019|Categories: Retirement|Tags: |

Twenty-nine percent of U.S workers between 55 and 64 years old have no retirement savings or pension plan, according to a report by the U.S Government Accountabilty Office. The report also found that 48 percent of pre-retirees have no IRA or 401(k) savings plans, while 20 percent have only a defined-benefit pension plan. The report represented a slight improvement in U.S. workers' retirement readiness from a similar study done in 2015, when 52 percent were reported to have had [...]

27 03, 2019

Gen Z Anticipates Retiring at 56, Are You Offering Them Retirement Benefits?

2019-03-27T15:33:35-07:00March 27th, 2019|Categories: Retirement|Tags: |

Yes, you read that headline correctly, the youngest generation in the workforce is already planning on leaving it once they hit the 34-year mark. And to think, we were just worrying about attracting them into the workplace! By some estimates, the oldest Gen Zer was born in 1997, which means if all goes according to their plans, they’ll start leaving the workforce around 2053. As an older Millennial, I’m only slightly bitter about this—thanks, student loan debt—but good for [...]

27 03, 2019

More Employees Expect to Postpone Retirement Due to Financial Stress

2019-03-27T09:45:00-07:00March 27th, 2019|Categories: Retirement|Tags: |

While today’s employees feel confident in their finances, the reality of their situations is not aligned with this confidence, a new report shows. According to MetLife’s 17th annual U.S. Employee Benefit Trends Study, nearly two out of three people say they are confident in their finances, but half say they are living paycheck to paycheck, many have tapped their retirement savings, and an increasingly large group says they will have to delay their retirement because of their finances. In fact, the level of [...]

Load More Posts