But more than half of pre-retirees expect to hold down a job, PGIM found in a survey.
Tag: Retirement Income
In the U.S., pre-retirees think they will need 74% of income, but retirees only receive 58%.
A new report published by Cerulli Associates draws out participant perspectives on the topic of DC plan decumulation, revealing that many of those leaving the work force feel “generally clueless” about how to manage their nest egg.
More than one-third of Gen Xers and Millennials have no retirement savings, and although many expect to rely on Social Security for a major portion of retirement income, they have no intention of maximizing their benefits, a survey finds.
Ninety-one percent believe their savings will last throughout their lifetime, MassMutual found in a survey.
A mere 21% feel confident about drawing down their retirement plan assets, Ameriprise Financial found in a survey.
“If a plan sponsor can invest in an adviser or other person to provide direction for terminating or retiring employees, that would be extremely helpful,” Terry Dunne, from Millennium Trust Company, told 2018 PLANSPONSOR National Conference attendees.
Together, they supply 40% of retirees’ income.
Some people are running out of money in retirement, but many are refusing to spend and are living below their means. Are they doing so out of fear, or do they just not need as much?
In a frank conversation with PLANADVISER, Andrew Biggs points to some common misconceptions about retirement income replacement among lower income groups.
Commenting on new Social Security deficit projection figures published this week, Rob Fishbein, corporate counsel at Prudential Financial, says it’s not time to hit the panic button yet—but it is time to take very seriously the retirement income challenge individuals face.
Variable annuities continue to face challenges in the wake of transaction processing disruptions caused by the now-vacated DOL fiduciary rule; however, experts anticipate sales to recover as business processes normalize and newer product types come to market.
The Social Security OASI Trust Fund is projected to become depleted in late 2034, as compared to last year’s estimate of early 2035.
With many Boomers retiring, the research firm says the industry is at “an inflection point.”
Take a couple that is healthy and retiring today at age 65; the probability of at least one member of this couple living to age 75 is 97%, and to 90, nearly 50%.
A survey from the Society of Actuaries suggests that if retirees are able to survive financially to age 85, concerns about finances drop significantly.
PlanAnalytics will now utilize retirement readiness data from GuidedChoice.
Sixteen percent of Americans plan on having gig economy jobs in retirement.
Eighty percent of American workers surveyed said they would like to hear congressional candidates discuss retirement security.
For advisers, 78% of respondents to a survey who use advisers indicate their advisers discuss risk tolerance, although only 50% say they discuss guaranteed lifetime income with their advisers, and only 18% have worked with their advisers to estimate retirement health care costs.