Data & Research January 26, 2011

Fewer Workers Plan to Postpone Retirement

As the economy gradually recovers, some workers are feeling more comfortable about retiring now, compared to this time last year, according to a CareerBuilder survey.
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Sixty-five percent of workers age 60 and over said they are putting off retirement because they can’t afford to retire financially, which is down from 72% who felt that way last year.

More than one-in-four (28%) workers age 60 and over plan to retire within the next two years, while 27% are planning to retire in three to four years, and 18% in the next five to six years. Sixteen percent estimate it will be seven years or more before they can stop working, while 10% don’t think they’ll ever be able to retire.

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The primary reasons for postponing retirement are financial restraints (65% ), and the need for health insurance and other benefits (58%). However, workers are staying on board at their companies for a variety of other reasons, including:

  • Enjoy their job (39%)
  • Enjoy where they work (36%)
  • Fear retirement may be boring (26%)
  • Enjoy feeling needed (14%)

The survey was conducted online within the U.S. by Harris Interactive on behalf of CareerBuilder.com among 536 U.S. employees (employed full-time; not self-employed; non-government) ages 60 and over between November 15 and December 2, 2010.

Deals & People January 26, 2011

Trading Firm Acquires Institutional Team from Kellogg Group

Direct Access Partners, LLC, announced the acquisition of the institutional trading team from Kellogg Partners.
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Direct Access is a trading partner to pension funds, mutual funds, hedge funds, and registered investment advisers (RIAs). The equity trading team from Kellogg is led by Kevin Butler; the group will join Direct Access’ New York office effective immediately.   

According to the announcement, Butler has over 20 years trading experience including senior leadership roles at Kellogg Institutional Services. He led the trading desk at Fleet Trading and was a Managing Director at Spear, Leeds & Kellogg.   

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“The team is an excellent fit with our customer-focused culture and will play an important role in the next stage of Direct Access Partners’ growth,” said Ben Chinea, CEO and a founder of Direct Access Partners, in the announcement.  

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