Gallagher to Continue Push Into Retirement Advisement in 2023
Insurance powerhouse Gallagher’s pending acquisition of Buck will further its strategy of providing the full scope of financial planning to group plans and participants, its retirement head tells PLANADVISER.
A Plan Feature Run Wild
Never Too Late
Americans Confident DC Plans Will Help Them Meet Their Retirement Goals
They also say that these accounts help them think about the long term and make it easier to save, an ICI survey found.
Detailed Plan and Participant Analytics Can Improve Retirement Readiness
Willis Towers Watson believes that sponsors must analyze the retirement adequacy and meaningful benchmarks for individuals or segments of the population.
Sibson Highlights Importance of Proper Asset Allocation
The consulting firm says that few plan sponsors pay close attention to how their employees allocate their retirement savings.
Simplifying Information in 401(k) Plans Doesn’t Lead to Better Decisions
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.
Millennials Benefiting from Retirement Plan Modernization
They are on track to replace 75% of their income, compared to 64% for Americans overall.
Plan Documents Require Update After Tax Reform
The new law extends the time a participant has to repay loans from 60 days after an offset to the date their tax return is due.
Average Deferral Rate Reaches 8.3%
Additionally, the number of plans with an initial 6% deferral rate for automatic enrollment now surpass those with 3% as the initial rate.
Principal Debuts Two Retirement Plan Products for Small and Mid-Sized Plans
The solutions can help retirement plan sponsors and the advisers serving them easily arrive at a baseline cost for the plan
Workers Worry About the Future of Social Security
This is especially a concern, as only 20% believe they are saving adequately for retirement.
Education Critical to Helping Participants Use a Retirement Plan
Ongoing education makes participants aware of the plan and underscores its value.
Retirees More Worried About Health Than Money
Ninety-one percent believe their savings will last throughout their lifetime, MassMutual found in a survey.
BidMoni Rolls Out FiduciaryShield
The platform allows retirement plans to solicit bids from retirement plan providers.
Most Retirees Only Withdrawing Required Minimum Distribution
A mere 21% feel confident about drawing down their retirement plan assets, Ameriprise Financial found in a survey.
Cetera Debuts 401(k) Practice Development Program
It consists of six live, web-based training sessions conducted over a three-month period.
A Mere 0.14% of DC Balances Were Traded in May
When trades were made, there was a continued movement away from equities into fixed income.
Dividends, Brokerage Accounts Key Sources of Retirement Income
Together, they supply 40% of retirees’ income.