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.
Pensions, in general, reduce poverty, and importantly, the anti-poverty impact of pensions is greatest for Black and Latino retirees, as well as for retirees without a college degree, says the National Institute on Retirement Security.
The retirement planning landscape needs to adopt a "more personal" approach to help people "navigate the unexpected," like job losses, caregiving and other financial hardships, according to a new Goldman Sachs report.
Automatic enrollment and automatic annual increases have driven participation rates in 401(k) plans held by Vanguard to an all-time high with record plan participation of 83% in 2022, according to a new report.
Nearly one out of every two Americans between 40 and 59 are using retirement savings to support their extended family and adult children, which is why plenty of preparation is key for this group, says a new survey.
As SECURE 2.0 takes root in retirement plans, employers now believe that DC plans should be vehicles for retirement income generation, as well as financial wellness offerings like emergency savings programs, says a new survey.
Retirement savings for Gen X is highly concentrated among top earners, however, the SECURE 2.0 provision for part-timers, which takes effect in 2024, could represent "meaningful change" for these workers, says a new report.
Employers should provide in-person group education meetings, as well as access to financial consultants and advisors to help employees make informed personal financial decisions, recommends a new survey.