The Elder Justice Reauthorization and Modernization Act of 2021 dedicates funding to programs to address vulnerable seniors’ needs, and its advocates say the financial services industry has a critical role to play in protecting the public.
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.
New survey data from the Transamerica Institute and the Transamerica Center for Retirement Studies underscores the contradictory impacts the coronavirus pandemic has had on Americans’ financial health.
Of course, a person’s absolute level of wealth has an impact on retirement confidence, but this is far from the only important factor at play.
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.
Kevin Boyles at Millennium Trust says companies have been responding to the pandemic with exceptional agility—driven in no small part by the expectations of their Millennial workers.
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.
While trading during the month favored fixed-income funds, with the positive stock market movements, average asset allocation in equities increased from 67.1% in September to 67.3% in October.
According to new John Hancock research, financial stress has a major impact on organizations, costing more than an estimated $1,900 per year, per employee.
The vast majority of today’s retirees still draw the lion’s share of their income from Social Security and pensions; however, in coming years the balance will very quickly tip to private savings sources such as 401(k) plans.