Sponsors of defined contribution retirement plans can boost participants retirement income by up to 20 percent or even morejust by throwing their weight around.
Service providers can do better at promoting savings rates among employees, says NARPP's second annual participant FELT study, though record keepers can influence 401(k) contributions as much as employer match.
The shift from DB plans to DC plans might not help workers secure their retirement, even though coverage by some sort of retirement plan is holding steady. Check out these statistics on worker saving rates, defined benefit plans, and defined contribution plans.
While the main reason many investors who work with financial advisors have turned to an advisor for help is the need for retirement planning, only half say their advisors actually talk to them about what their lives might be like after retirement.
Morgan Stanley Wealth Management has announced that it has a licensing agreement with education technology company EverFi for a new web-based financial education program called Morgan Stanley Financially Fit.
Older investors are upping their financial planning game by turning more frequently to modern tools. And whether they like it or not, financial advisors will have to follow.
More people work for small businesses than large, but small business employees have the deck stacked against them for retirement. Many small businesses dont, or cant, provide such things as 401(k) plans or even SEP-IRAs, which makes it difficult for their employees to make sure they have enough put away...
American workers are leaving money on the table employer matching funds for their 401(k)s because theyre just not saving enough to take advantage of the full match.
American workers have a problem saving for retirement, but its not getting fixed by higher limits on how much they can contribute to their 401(k) plans.