As a result, they may have lost the opportunity to save six years’ worth of income in retirement, according to a Nationwide Retirement Institute survey.
Data & Research
They also fail to invest the funds or max out contributions, EBRI found.
For the third year in a row, respondent companies to the ESOP Association's annual survey saw profits rise more than revenue, and a more than half of companies contributed more to their ESOPs than the average 401(k) match.
Forty percent are waiting for further clarification, Fidelity learned in a survey.
Instead, workers will source funding from their 401(k), IRA or other savings vehicles.
Nearly half of workers feel confident about their retirement prospects, an AllianceBernstein survey found.
A survey of more than 500 Americans age 55 and older finds the top concern about a lengthy retirement is health care costs and the most significant investment and retirement issue is a desire to maximize retirement income.
"Choosing appropriate investments” is a top pain point for all individuals no matter their place in the retirement planning spectrum, Hearts & Wallets found.
In conversation with PLANADVISER, Lincoln Financial Group’s leader of retirement plan services explains why more Americans today cite “retirement” as their No. 1 financial stressor; in some ways, this is actually a great thing.
They are driven to reach financial independence but fall behind when it comes to saving and investing, Schwab found in a survey.
At the extreme, EBRI estimates, out-of-pocket costs could reach $399,000 or more.
More than half say they would prefer guaranteed income of $660 a month over a $120,000 lump sum, LIMRA SRI found in a survey.
The researchers say their results imply that it may be useful to facilitate decision making, particularly among the less-educated, as well as to facilitate people committing to and carrying out long-term financial decisions.
Twenty-nine percent say financial planning makes them feel “excited and inspired,” a survey by Northwestern Mutual found.
When asked to think about their life in their 60s, 70s and 80s, people said retirement savings should be increased by 31%, Capital Group found in a survey.
This year, the U.S. scored a 58.8 overall in the Melbourne Mercer Global Pension Index, up from 57.8 in 2017.says the slight increase in the U.S.’s score was due to a number of small changes in the adequacy sub-index.
Findings from a Capital One survey about why employees do not participate in their employer-sponsored retirement plan offers opportunities for education, according to Stuart Robertson.
The language of “inertia” and “disengagement” are often used to describe the natural state of retirement plan participants, but new research from Wells Fargo suggests plan sponsors are also prone to settling with the status quo.
In addition to decreasing savings to retirement plans, one-third of employees say they have used up all or most of their savings or have increased their credit card debt due to health care costs, a survey finds.
Rather than look at objective rankings of retirement systems, State Street set out to measure how it feels for individuals to prepare for, approach and experience retirement, and makes recommendations.