2021’s Hardships Redefine Financial Wellness Goals
With so many Americans having gone through tough times over the past two years, a new study looks at how this has affected their financial well-being and sense of the future.
Tag: Enrollment participation
Nonmedical Benefits Shine as ‘Great Quit’ Intensifies
Younger employees who have recently left their jobs say they are seeking employers that genuinely care about their well-being, as demonstrated by the benefits and wages they deliver to their staff.
Volatility in Focus as Markets Swing on U.S., Global Headlines
It is always tempting for long-term investors to get caught up in weekly market moves, but experts continue to stress the importance of maintaining a strategic perspective and avoiding emotional and overly reactive decisions.
Will Gen Z Be the First True DC Plan Generation?
While Millennials have had access to defined contribution plans for their full working careers, survey data suggests Generation Z started saving in earnest much earlier, in part because their Generation X parents have demonstrated the value of self-directed savings.
Data & Research
Pandemic Proved Value of ‘S-ESOP’ Employee Ownership
Workers at employee-owned S corporations, who invest in and own their employers via ‘S employee stock ownership plans,’ report being on significantly more stable financial ground than other U.S. workers.
Trends
Compliance
Data & Research
Benefits for an Uncommon Group
The adviser industry must evolve to effectively serve the gig workforce—a growing segment of employees who need help with financial planning and with saving for retirement.
Gen X Participants Are Even More ‘Sandwiched’ After COVID-19
However, there are several helpful actions and concepts that advisers can bring to the table.
Workforce Representation Will Soon Skew Younger
With more Millennials and Gen Zers now in the workforce, financial advisers and employers must rethink their engagement with these groups and reconsider the traditional benefit landscape.
Industry and Congress Agree the Coverage Gap Is a Big Problem
Witnesses at a retirement security hearing held Thursday by the Senate HELP Committee all spoke about the central importance of closing the defined contribution plan coverage gap.
Record Balances: DC Plan System Continues to Thrive
Fresh data shared this week by Principal and Fidelity shows defined contribution retirement plan balances have—yet again—reached record highs, but the data underscores the need to improve access for more workers.
Data & Research
Products
Data & Research
Data & Research
Data & Research
Gig Economy Expected to Expand Post-Pandemic
In some ways, the gig economy was flourishing prior to the pandemic. Studies suggest the growth is likely to continue, based on a variety of related factors.
TIAA Says New Mobile Enrollment Experience Is a Sign of the Times
Consumers spent a collective 1.6 trillion hours on mobile devices during the first half of 2020, with a 220% increase in time spent on business apps.
Prepare to Meet the Needs of the Workforce of the Future
The way in which companies structure their remotely distributed workforces will depend on the financial consequences of the pandemic, the impact on corporate culture and other factors, such as the prevalence of gig work.
Retirement Plans Start to Think About How to Produce Retirement Income
Vanguard says that meeting these income needs, along with encouraging strong savings rates and diversification, are the primary drivers in creating successful retirement outcomes.
Surprising Findings in Savings Analysis Suggest Salary Matters Less Than Assumed
A new analysis published by EBRI in collaboration with J.P. Morgan suggests a person’s spending habits, rather than their salary, seem to have the biggest influence on whether they are a low saver or an average saver.
The Financial Services Industry Can Help Tackle Economic Inequality
Each U.S. household in the bottom half of the wealth distribution has only $20,000 of net worth, on average, a figure that represents less than 0.1% of those at the very top. Helping more people to own homes and to invest even modestly in the stock market are seen as critical steps to closing that gap.
The Retirement Crisis Is a Coverage Crisis
For those workers who are offered a retirement savings plan at work, the U.S. retirement system functions pretty well; solutions are needed, however, to extend coverage to millions more Americans.
Millennial Misconceptions: Younger Workers Prioritize Retirement
Millennials may make different life choices than previous generations, but they are also more engaged at an earlier age with retirement savings in the workplace.
Plan Success Beyond the Usual Statistics
High-level averages are often used to talk about the retirement readiness of a given defined contribution plan population, but the numbers can be misleading when it comes to assessing real outcomes for individual employees.
DC Plan Jargon Stymies Participant Success
The term “glide path” resonated with only 4% of participants surveyed by Invesco, despite being the most common term used by advisers, providers and plan sponsors when talking about target-date funds; survey data shows numerous other areas where industry jargon holds back participant understanding.