Only 13% of Retirement Plan Participants Seek Out Advice
However, advice seeking increases with age, account balance and annual contribution level.
Tag: Education
Advisers Can Play Key Role Boosting Voluntary Benefits
Benefits consultants play a helpful role in guiding employers through decisions involving the offering of voluntary and health benefits: Why offer benefits? Who pays? How do you educate employees?
Mutual of America Turns to Social Media to Educate People About Retirement
The firm is offering tips, tools, studies and articles on Facebook, Twitter and LinkedIn.
Loans, Suspended Deferrals Reduce Savings an Average of 14%
The impact is greater for younger investors, as they have a long time horizon for saving, MassMutual finds.
Research Questions Value of Old School Financial Education
Upon review, the correlations between financial education and improved financial behaviors is often better explained by other individual difference factors that were not measured in a given study, such as familiarity with numerical concepts, financial confidence, and willingness to take risks.
Nonprofit Plan Sponsors Require Deeper Fiduciary Education
A number of key terms commonly present difficulty for nonprofit plan sponsors of all sizes—in particular the terminology surrounding “revenue sharing,” “fee levelization,” “fee policy statements,” and “3(21) vs. 3(38) advisers.”
Millennials Could Fare Worse in Retirement Than Older Generations
The Center for Retirement Research projects that 40% of those born between 1976 and 1985 will be unable to replace 75% of the income they received between the ages of 55 and 54 when they reach age 70.
Many People Plan to Continue Working in Retirement
With Americans expecting to live to age 90 and many finding retirement savings a challenge, work, at least part-time, could become a retirement expectation for many.
Nearly Half of Americans Say Their Financial Situation Improved in 2017
Another 40% say they reduced their debt during the year.
With Change to Pension System, Military Members Need Financial Advice
The Department of Defense is initiating the Blended Retirement System on January 1, 2018.
Single Women Not Safeguarding Their Futures
Eighty percent of single women keep a portion of their savings in cash, with 35% keeping 50% or more in liquid savings.
Sponsors’ Fiduciary Awareness Deteriorating
Nearly half of sponsors do not think they are fiduciaries, up markedly from 30% in 2011.
Recession Has Had a Major Influence on Millennials
Nearly one in four say they would be willing to save more than 50% of their paycheck to have more money in the long run.
Credit Card Debt Preventing Many Gen Xers From Saving for Retirement
Fifty percent of Gen Xers surveyed say they cannot start saving for retirement until they pay off their credit card debt.
Despite Wanting Help, Many Employees Balk at Targeted Messages
Fifty-seven percent of employees surveyed do not want their employer to send personalized messages to people facing important financial decisions.
Investors Have Mixed Opinions Following 2008 Financial Crisis
More than one in four now avoid the market and nearly half have altered their spending and savings habits.
Retirees Still Have 80% of Savings After Nearly Two Decades
More than one-third of retirees continue to grow their assets, BlackRock found.
Six Ways to Up the Ante on DC Plans
If the plan is not already automatically enrolling participants and escalating their deferrals each year, AB says, it should be.
Millennials Are Focused on Achieving Financial Goals
Despite sometimes being thought of as “slackers,” data shows the Millennial generation is more financially responsible than other generations give them credit for.
Duty to Monitor at Heart of Fiduciary Solution from Cornerstone
The new fiduciary support solution aids retirement
specialist advisers and their clients in meeting the strenuous requirements of
ERISA and other investing and benefits laws—without getting in the way of the existing
adviser-client relationship.