Retirement Trends

In September, Senate Minority Leader Chuck Schumer will introduce the Keep Billionaires out of Social Security Act, targeting President Trump's DOGE cuts to the SSA, to help "reduce wait times and improve access" for seniors, he said.

The Department of Labor has proposed to eliminate a "redundant" safe harbor rule that provides a standard for fiduciaries in selecting annuity providers, however, the rule is needed to ensure the growing inclusion of annuities in 401(k)s, says the Insured Retirement Institute.

"Our industry lacks accountability when it comes to performance," says Zach Allen, CFA, Chief Investment Officer at PCI and President of RetireAdvisers.

Proponents say retirees will have access to higher returns; critics say the potential risks are too high.

It is crucial for plan sponsors to think ahead and familiarize themselves with new provisions coming in 2026, including higher catch-up contributions, big changes to required minimum distributions and changes for annuities.

One-third of U.S. adults are using AI in their personal or professional lives, and as such they appear to recognize the value AI can add to financial planning when combined with human guidance.