With its latest relief payment, the Pension Benefit Guaranty Corporation has now distributed more than $7.5 billion to stressed union pension plans that cover over 152,000 workers, retirees and beneficiaries.
They expect 44% of their retirement income will come from their 401(k), according to Charles Schwab, and half said they would benefit from financial advice.
The Supreme Court will weigh in on the question of whether an adequately funded pension that is not in immediate danger of insolvency could have wronged participants and breached ERISA in the selection of poorly performing investments offered by an affiliate company.
Because people are living longer, healthier lives, the Wells Fargo Investment Institute has suggested different ways that Millennials, Generation X and Baby Boomers can successfully save for retirement.
However, retirees spend 32% less than non-retirees.
Over half have nothing set aside in any type of employer retirement plan.
But more than half of pre-retirees expect to hold down a job, PGIM found in a survey.
A mere 21% feel confident about drawing down their retirement plan assets, Ameriprise Financial found in a survey.