Women place more importance on advice that fits into their work or personal schedule, as opposed to men who place more importance on advice that alerts them to critical developments in their accounts, a T. Rowe Price survey found.
Data & Research
Forty-two percent don’t even know it is possible to keep assets in a plan once one leaves an employer.
Financial stress is on the rise in all generations, indicating that financial wellness programs are missing the mark, according to PwC. A new survey report from the firm suggests many employers have simply relabeled existing resources as "financial wellness programs."
EBRI found a significant difference in retirement deficits when comparing the current environment where defined contribution plan participants rollover their assets versus a hypothetical state where workers never rollover their DC assets.
The study finds that participants who join plans with a TDF default contribute to fewer funds and are significantly more likely to choose only TDFs for their allocations.
In 2016, the average plan offered 27 investment options, according to a report from BrightScope and ICI.
Women are even more concerned than men.
Both groups have become less optimistic since the start of the year, according to Nationwide.
At year-end 2018, 66% of new plan entrants were enrolled via automatic enrollment.
Employees of all income levels face distracting financial stress, survey finds.
Country Financial, which surveyed American parents, urges them to form a realistic, long-range plan.
Companies that help retirement plan sponsors with investments also provide benefits to their own employees; in some ways, assets managers’ plans resemble the broader marketplace, while in others they stand out.
Adults ages 45 to 59 who say their retirement savings are on track typically have at least $250,000 saved, according to the sixth annual Survey of Household Economics and Decisionmaking (SHED).
Medicare covers only 64% of the cost of health care for those 65 and older, according to EBRI.
Millennials bemoan their student loan debt loads while Baby Boomers voice the most regret about not saving for retirement earlier, according to a Bankrate.com survey.
“Buyout products had a very strong start to the year with $4.7 billion in sales,” says Mark Paracer, assistant research director for LIMRA SRI. “Previous first quarter sales had never exceeded $1.5 billion.”
NARPP says that if retirement plan participants trusted their providers more, it would likely lead to higher deferral rates.
A new TIAA survey suggests Americans who are concerned about their parents’ financial security are more likely to feel stress about their own retirement preparedness.
On the 12 transactions tracked by Fidelity in April 2019, 11 involved registered investment advisers and one involved an independent broker/dealer.
While a new study by the Employee Benefit Research Institute (EBRI) finds the majority of people spend less than 100% of their retirement income, it also shows factors and expenses that can move spending up or down.