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.
As the caregiving generation skews younger, it offers an opportunity for financial planning professionals and plan sponsors to help them get a head start on building a strong, long-term financial strategy, says a new survey.
More and more public sector workers are relying on DC plans for their retirement savings, however, half of them in their 60s had less than $40,000 in their account balances, according to new research from EBRI.
Likely as a result, 401(k) contributors, whose biggest short-term priority is paying off debt, are often juggling saving for now vs. savings for the future – and nearly half are behind or don't have a retirement goal, says a new TIAA survey.