Companies are encouraging employees to save morenot just by automatically enrolling them but by other steps that boost participation and contributions.
Two thirds of advisors say that a key goal for pre-retirement and retiree clients is income distribution planningbut that doesnt mean theyre suggesting annuities as a way to achieve that goal.
It's National Savings Week (aka National Save for Retirement Week), and Voya Financial, Lincoln Financial Group, and Prudential Financial are all marking it in retirement-appropriate ways.
They're not being stupid with money--financial literacy involves having enough money to manage in the first place. But these 10 states are, let's say, the least savvy about money.
No cost-of-living allowance increase in 2016 for Social Security beneficiaries means pre-retirees saving money in 401(k)s will find the catch-up contribution limit isn't increasing either.