Tax-exempt sector employees, those in the higher education, health care, government, foundations, and faith-based organization sectors, have saved an average of $48,000 in their defined contribution (DC) plans, 23% less than the average $62,000 saved by their corporate sector peers, according to a news release from Fidelity Employer Services Company (FESCO).
Data & Research
A majority of private industry workers would opt to participate in a defined contribution plan if their companies offered them, according to a recent Department of Labor report.
A scant 16% of Baby Boomers report that all or most of their future retirement income will come from Social Security, according to a survey by the US Department of the Treasury and Federal Reserve Banks.
Less than half (46%) of Canadians get help in financial management from an adviser, according data from Investors Group, a Winnipeg-based financial advisory firm.
Nearly one-third of Americans say not having enough to pay for health care is the biggest concern facing our nation in retirement.
A new survey has found a notable hike in the number of larger corporate employers offering 401(a) money purchase plans.
Nearly one-third (27%) of online investors plan to focus some or all of their end-of-year investment gains on retirement and 22% plan to put them into savings.
In addition to savings and investment considerations, a new survey suggests that part of a healthy retirement plan will include a consideration of early retirement because not all Americans will be able to work as long as they plan.
Mandatory retirement will be illegal in Canada beginning Tuesday, and a new survey finds that this will have quite an effect on the Canadian working population.
While the top two income tiers of Americans approaching retirement have comparable assets, those classified in a new study as affluent are still focused on accumulating assets and are more likely to need their money for short-term life events.
Almost three-quarters of employees (71%) and half of retirees (50%) said they were very concerned about their long-term financial future, according to the latest Principal Financial Well-Being Index.
A survey from AARP Financial has found Californians over age 50 report being overwhelmed with too many choices, turned off by complex prospectus language and not sure who to turn to for advice, and are thus falling behind in their retirement savings.
A recent study has found that lesbian, gay, bisexual and transgender (LGBT) baby boomers have more concerns about long-term care in retirement than the general population.
About a third of eligible employees stayed on the retirement savings sidelines instead of joining their workplace plan, according to new Vanguard Group data.
A joint survey from Americans for Secure Retirement (ASR) and the Latino Coalition has found that 70.9% of Hispanic adults have less than $5,000 saved for retirement.
Employees are concerned about the effect greater benefit costs will have on their retirement savings, a survey found.
The average employee needs to contribute an additional $11,400 to their retirement savings – or 21.2% of pay - annually to get back on track to having a big enough nest egg for them to live on in retirement, according to the latest data from a continuing retirement savings study.
Women ages 21 to 64 have a slight edge when it comes to saving for retirement in an employer plan, according to a new study.
A new study from the Investment Company Institute (ICI) shows that 401(k) plans, originally perceived as a supplement to worker pensions, now have more than twice as many participants as private-sector defined benefit plans.
Little thought bent toward retirement