A study looks at the hourly wage gap between college and high school graduates, and researchers suggest policy options to boost retirement savings that include financial literacy training, among other things.
Data & Research
Companies that estimate funded status for defined benefit (DB) plans say this is due to equity returns, as interest rates remained relatively flat.
The average Millennial spends over $30 on coffee per month, but will also, on average, save $480 for retirement in the same time frame.
An IALC report suggests plan sponsors apply educational resources—like seminars and informational fairs—to heighten employee participation.
A study found the cost of health care was another top reason retirees filed for bankruptcy.
According to a new MassMutual study, 79% of retired women are receiving professional financial advice, compared to 68% of men.
With a funding status of 95% or more, a buyout or risk transfer deal are two viable options for these plans.
In a new Bank of America Merrill Lynch survey, 95% of employers who offer such benefits agree that their financial wellness programs have been effective at promoting work force management goals.
According to a new survey, 76% of employees say they understand the salient features of health savings accounts, or “HSAs,” yet only 12% could correctly identify the common attributes of an HSA in a simple quiz.
Fifty-four percent of respondents to an Allianz Life survey say that other expenses are interfering with their retirement savings, and 20% say they are saving for other financial goals.
A TIAA study finds the feature's benefit are continuously offset by pre-retirement withdrawals and plan loans.
Research from EBRI shows very few employees contribute the maximum statutory limit to HSAs.
This is despite having lived through two bear markets.
They also believe having an adviser they can trust is important for their financial confidence.
However, there are things retirement plan advisers and sponsors can do to encourage them to take on more risk.
Employers say debt, saving for retirement, paying for their children’s education expenses and covering basic living expenses are top worries of employees, and 63% of employers surveyed currently provide financial education for their workforce.
Seventy-five percent of those with advisers say they are disciplined or very disciplined financial planners, relative to just 37% of those without an adviser.
The “Less Is Not More” study set out to determine whether presenting retirement plan information in a more compact and accessible way increases participation and results in better investment decisions.
Employees of small businesses with retirement plans that include automatic enrollment have far higher participation rates across all demographic variables, according to new data shared by Vanguard.
They are on track to replace 75% of their income, compared to 64% for Americans overall.