One retirement pundit says there is no crisis, that your expenses as a retiree will be lower, and maintaining your standard of living will be easier than thought. What is he thinking?
Voya Financial, one of the biggest providers of retirement plans, has filed comments on the proposed fiduciary rule from the Department of Laborand those comments are not full of praise.
If plan sponsors design retirement plans, they take advantage of naive employees and exploit features of plan design that favor themselves, to the detriment of the employees trying to save for retirement.
Senators Jack Reed, D-Rhode Island, and Chuck Grassley, R-Iowa, have introduced new legislation that would put more teeth in the SECs efforts to crack down on Wall Street misdoers.
While nearly half of people saving for their retirement are failing to put away enough money to sustain them at their current lifestyles once they retire, data indicate that theres the potential for plan design to be enhanced so that it improves the situation.