Retirement Advisor

Since the financial advisor’s resignation last month, 20 clients, representing $35 million in assets, have transferred or are in the process of transferring their accounts to Morgan Stanley, according to JPMorgan.

That’s one year sooner than previously forecast, according to the just-released Social Security Administration’s annual Social Security and Medicare Trustees Reports, which urge lawmakers to “quickly enact legislation to make the necessary adjustments.”

“Given that nearly a third of respondents have detected errors in their paychecks at some point, their stress is not unfounded,” according to a new report from Deel.

Amid heightened inflation concerns, workplace retirement plans need to go beyond simply offering a 401(k) and match – and must now include ongoing financial advisory, investment planning and income solutions, according to the financial services firm.

Not only should employers offer lifetime income, workers feel it is an employers’ responsibility to do so, which represents a dramatic increase in interest in guaranteed lifetime income, according to new research from Nuveen and TIAA Institute.

Most working Americans plan to rely on Social Security as their primary source of retirement income, followed by a 401(k), but side hustles will also play a key role across generations.

Governor Josh Stein has signed the State Investment Modernization Act, which establishes the North Carolina Investment Authority to make investment decisions now only made by one person, the state treasurer.

The dismissal of JP Morgan Chase’s lawsuit, alleging misuse of forfeited funds in its 401(k) plan to offset employer contributions, aligns with other federal judges rejecting the misuse claim under ERISA.