24 08, 2017

New Study Finds Public Employees Overwhelmingly Choose Pensions as Retirement Plan over Individual 401(k)-Type Accounts

2017-08-24T20:28:39-07:00August 24th, 2017|Categories: Pension Funding|Tags: , |

A new study finds that public sector employees with retirement plan choice overwhelmingly choose defined benefit (DB) pension plans over 401(k)-type defined contribution (DC) individual accounts. Among the eight states studied that offer employees such a choice, the DB pension take-up rates in 2015 were 80 percent or higher in six states. Two of the plans studied had pension take-up rates higher than 95 percent, while Florida and Michigan had take-up rates of 76 percent and 75 percent, respectively. [...]

30 07, 2015

Which state’s retirees are the best prepared?

2015-07-30T20:39:57-07:00July 30th, 2015|Categories: Retirement|Tags: , |

Millions of Americans are ill-prepared to retire. But a lot depends on where you live. Retirement security is a combination of having enough savings and pension income to cover costs associated with aging, especially medical bills. As older workers continue to postpone retirement, job market conditions also play a critical factor. Those characteristics vary widely across the U.S., which makes retirement security somewhat easier to achieve in some states than others, according to a new analysis from the National [...]

13 03, 2015

Retirement Savings Levels Continue to Worsen

2015-03-13T21:18:46-07:00March 13th, 2015|Categories: Retirement|Tags: , |

New Research from The National Institute on Retirement Security Finds Median Retirement Account Balance Dips to $2,500 for Working Age American Households, Down from $3,000; Nearly 40 Million Households Have No Retirement Savings. A new research report calculates that the U.S. retirement savings crisis continues to worsen, and that the typical working household still has virtually no retirement savings. When all households are included-not just households with retirement accounts-the median retirement account balance is $2,500. The median retirement account balance was $3,000 [...]

5 03, 2015

With good reason, Americans stressed about affording retirement

2015-03-05T21:53:25-08:00March 5th, 2015|Categories: Retirement|Tags: , |

Americans are anxious about their ability to live out their Golden Years with a measure of financial security. Those fears, unfortunately, are more than justified. With about 10,000 Americans retiring each day, a growing number are leaving the workforce without pensions, with modest Social Security benefits or inadequate individual account balances. Factor in skyrocketing health care costs and the picture becomes even more alarming. […]

3 03, 2015

86% of Americans Believe Nation Faces Retirement Crisis

2015-03-03T21:50:08-08:00March 3rd, 2015|Categories: Retirement|Tags: , , |

A new nationwide public opinion research report finds that an overwhelming majority of Americans – 86 percent – believe that the nation faces a retirement crisis. Nearly 75 percent of Americans are concerned about their ability to achieve a secure retirement, and support for steady and reliable retirement income from a pension is high and growing. Some 82 percent say a pension is worth having because it provides steady income that won’t run out, while 67 percent indicate that [...]

5 08, 2014

Pensionomics 2014: NIRS report underscores huge economic impacts of DB pension plans

2014-08-05T21:42:02-07:00August 5th, 2014|Categories: Defined Benefit Plans|Tags: , |

The following report was written by a CORPaTH supporter who participated in a webinar on “Pensionomics 2014” sponsored by the National Institute on Retirement Security.  On July 29, I participated in an Internet seminar (“webinar”) on the results of a new report titled “Pensionomics 2014: Measuring the Economic Impact of DB Pension Expenditures.” It was presented by the National Institute on Retirement Security (NIRS), which sponsored the study. Diane Oakley, executive director of NIRS, introduced Nari Rhee, Ph.D., the [...]

19 02, 2014

Lack of savings to hurt retirees; Many baby boomers will have to keep on working, experts say

2014-02-19T23:06:52-08:00February 19th, 2014|Categories: Retirement|Tags: , , , , |

A comfortable retirement is becoming more elusive for aging Americans, many of whom will have no choice but to work well into their golden years. Sparse savings, fewer pension plans, stagnant home values and rising health-care costs have created a scenario in which many of the country’s 70 million-plus baby boomers – who began retiring in earnest in 2011 – will struggle to live as well as their parents in old age. The National Institute on Retirement Security says [...]

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