Retired households with less than $200,000 accumulated in a DC plan at retirement tend to spend down only about a quarter of their assets during the first two decades of retirement.
Tag: Retirement Income
Each type of annuity available to defined contribution plans has different features to match the goals of plan sponsors and participants.
In the current market environment, safe assets simply do not pay what they once did, but that doesn’t mean annuities have become less attractive. In fact, on a relative basis, annuities currently make a lot of economic sense.
Social Security recipients will see a 1.3% cost-of-living adjustment, and the maximum amount of earnings subject to the Social Security tax will increase by $5,100.
An overview of the insured and investment solutions that are available and how advisers should evaluate them.
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.
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 SECURE Act will inevitably lead to more sponsors inquiring about in-plan income options, and advisers need to be ready.
The offering is designed for financial professionals to deliver to clients and prospects.
Retiring early can be stressful for workers, but with help from advisers, it doesn’t have to be.
The Treasury Department has yet to deliver formal guidance on the deferment.
However, Millennials and Gen Xers are open to working with financial advisers to learn more and maximize benefits.
Vanguard says that meeting these income needs, along with encouraging strong savings rates and diversification, are the primary drivers in creating successful retirement outcomes.
ANNUA Direct Quote is a tool for retirement plan sponsors, participants and advisers to obtain current market pricing for guaranteed lifetime income at retirement.
Wells Fargo launches Retirement Income Solution, and Morningstar to acquire Sustainalytics.