Research suggests making participants more comfortable with annuitizing their savings could help them with spending in retirement.
A number of Millennials are misinformed about when to save and invest for retirement, and they need plan sponsor help with student loan debt.
Employees surveyed said their ideas and feeling about money varied greatly throughout each life stage, and 40% identified more with others who are going through similar life events than those in defined generations.
NARPP says that if retirement plan participants trusted their providers more, it would likely lead to higher deferral rates.
Defined contribution plan participants and non-participants surveyed by Natixis shared incentives that would encourage them to save or save more for retirement.
Studies from Empower Institute found many commonly used industry terms don’t make sense to their intended audience, and employees perceive retirement plan communications as wordy and long, complex and confusing, generic, overwhelming and wasteful.
Beacon Pointe Advisors names CIO; Asset-Map partners with Cambridge Investment Research; VALIC appoints new business development vice president; and more.
Younger workers who came of age during the Great Recession are now making decisions that will have a lasting impact on their ability to generate wealth, including their ability to prepare for retirement, according to a new survey.
According to a new survey, 76% of employees say they understand the salient features of health savings accounts, or “HSAs,” yet only 12% could correctly identify the common attributes of an HSA in a simple quiz.
“This study shows that for financial firms who want to improve retirement savings outcomes must evolve their role from just account providers to trusted partners that people can turn to for help on holistic financial wellness,” NARPP says.
The majority believe they will have to work much longer than previous generations, Prudential learned in a survey
Some of today’s retirees are financially fragile, but most appear able to absorb financial shocks without incurring severe hardship; this may very well change in a DC plan-dominated future, CRR researchers warn.
Voya Financial says these new one-minute videos will combine an individual's "monthly income replacement goals, estimated monthly retirement income and possible shortfalls" to visualize their path towards retirement.