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.
Data & Research
Little thought bent toward retirement
Nearly four in 10 (38%) of the chief financial officers (CFO) in a recent survey said their firms expected to add 401(k) automatic enrollment programs as a result of the recently enacted Pension Protection Act (PPA).
A survey conducted by Towers Perrin immediately following President Bush's signing of the Pension Protection Act (PPA) found more employers are likely to maintain their defined benefit pension plans than freeze them in response to the Act's more stringent funding requirements.
A recent study, "Spending and Investing in Retirement" by LIMRA and the Society of Actuaries offers insight into how people determine they are ready to retire and how they are faring in retirement.
A new survey finds that retirees are most concerned about the impact of the investment markets and an unexpected medical issue on their post-career standard of living.
Most employers (80%) consider the company-sponsored defined contribution retirement plan to be the primary vehicle for their employees' retirement income, but almost half (43%) are concerned that their employees are not saving enough for retirement, according to Wells Fargo's 2006 Best Practices in Retirement Plans Survey.