The younger generations demonstrate that they are getting their savings on track, while Gen X and baby boomers more often report falling behind on savings and struggling to catch up before retirement, says a new report.
Economic uncertainty has changed retirement expectations, which is why financial professionals should seize this opportunity to reinforce the importance of a long-term plan, as well the value of annuities, says a new survey.
Employers depend greatly on their advisors and consultants – called "gatekeepers," in a new retirement income white paper that says 83% of plan participants said their employers should offer in-plan retirement income options.
There's a major shift underway in the financial services industry – the convergence of workers' retirement and wealth needs, which have been placed in separate domains, much to the dismay of the average investor, says T. Rowe Price.
When managing retirement plan options, employers should prioritize generative AI, fraud/cyber concerns, inflation and a convergence of retirement planning and wealth management, according to a new Marsh McLennan report.
Employers are not "responsible for providing for my retirement," say employees, and only 1 in 4 is comfortable leaving money in former employer plans, however, they are more open to employer involvement, says a new report.
With just 24% of workers feeling confident that they'll be able to retire comfortably, a new report identifies key focus areas where employers can make a difference, such as employees with student loans and low-income workers.
Corporate pensions are in better shape than they have been in years, according to Russell's 2023 Prudent Pension Funding Report that analyzed 500 U.S. pension plans.
Employers can support lower-income employees by extending eligibility to part-timers, collaborating with their plan providers on educational campaigns, and raising awareness of the Saver's Credit, says a Transamerica report.
Plan sponsors must evaluate the specific features and services offered across the spectrum of personalized financial solutions, including financial wellnessand managed account programs, then assess the value for their participants.