The number of participants taking hardship withdrawals remained less than 1%.
Data & Research
If the plan is not already automatically enrolling participants and escalating their deferrals each year, AB says, it should be.
Despite sometimes being thought of as “slackers,” data shows the Millennial generation is more financially responsible than other generations give them credit for.
Half of both Baby Boomers and Generation X are prioritizing paying off debt before saving for retirement, a survey found.
A lack of retirement savings is one of the two biggest contributors of financial anxiousness, a survey found.
However, debt held by those between the ages of 65 and 80 increased 40% between 2003 and 2015.
A survey from Millennial Personal Finance found most workers would rather use student loan repayment benefits than other work features.
This year's survey from Transamerica of higher education plan sponsors shows a decline of 403(b) plans offered, and a dramatic swing in the popularity of 401(k) plans.
Among retirees that have been out of the workforce between one and 10 years, only 11% to 18% have consolidated their investment accounts, according to a new report.
Seventy percent of those with less than $45,000 in household income say they cannot afford to save for retirement.
Most successful savers are taking the concrete steps they need to make retirement goals achievable, a PNC survey finds.
Spencer Williams, from Retirement Clearinghouse, says the findings show the potential to preserve trillions of future retirement savings dollars for retirement plan participants through the widespread adoption of auto portability.
In a point-of-view white paper, Mercer offers several specific policy recommendations to address what should be done to enable more Americans to retire with confidence.
Research also found the youngest and oldest investors were most perceptive to using employer-sponsored retirement planning resources.
Researchers have developed diverse approaches for quantifying the adequacy of retirement income, focusing on different groups of retirees and employing different definitions of income and adequacy, a CBO report notes.
This is a 2.25% increase from the average balance in the second quarter of the year.
In addition, the number of health savings account holders on Fidelity’s platform increased 35% over the last year.
RIAs established in 2016 had $55 billion in assets under management.
Fifty-seven percent of Americans surveyed somewhat or strongly oppose reducing the maximum amount employees can defer pre-tax into a DC plan to $2,400 per year.
Over 40% of survey respondents indicate their organization has been offering a financial wellness program for 5 years or more.