Tag: retirement readiness

Gen Xers are in a much better financial place, with many having paid down their student loans. This is enabling them to focus on retirement savings.

Obtaining data on participants from retirement readiness tools, recordkeepers and aggregation tools is important in order to tailor effective communications.

Sixty-one percent of all participants surveyed by J.P. Morgan agreed with the statement, “If I could push an ‘easy’ button for retirement and completely hand over my retirement...

A survey by OneAmerica indicates roadblocks in affording financial adviser services. 

The importance of measuring return on investment and addressing participants’ short-term needs.

The Transamerica Center for Retirement Studies makes suggestions in a new report for how employers can take steps to enhance retirement security for workers.

If combined with the Automatic Retirement Plan Act of 2017, the retirement savings shortfall would be reduced by $932 billion, or 22.6%, according to EBRI.

One option is through a profit sharing plan that invests the money in an annuity once a participant retires.

Over half have nothing set aside in any type of employer retirement plan. 

Nearly two-thirds wish they had spent less in the past in order to save more for retirement.

While employers cited rising health care costs followed by outliving retirement savings as their biggest concerns for employees' retirement readiness, TIAA says surprisingly few have built retirement plan...

Fifty-two percent think they will be able to retire at their ideal retirement age, and 52% say they either somewhat or strongly agree that their savings will last...

An IALC report suggests plan sponsors apply educational resources—like seminars and informational fairs—to heighten employee participation. 

Yet, only 13% of workers have discussed Social Security with an adviser.

The Center for Retirement Research finds that the net worth of non-divorced households is 30% higher than for divorced households.

However, if retirement expenses are reduced to 80% of average expenses, 82.1% are on track to not run short.

Fifty-three percent expect to become millionaires, TD Ameritrade found in a survey.

It also helps to offer financial education continuously, according to the Pension Research Center at The Wharton School at the University of Pennsylvania.

More than half have set specific retirement goals, J.D. Power learned in a survey

Three-fifths of non-retirees with self-directed retirement savings accounts have little or no comfort managing their investments, and only one-fifth of adults answered five financial literacy questions correctly, according...