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The surge in early retirements spurred by the pandemic is increasing inequality among Baby Boomers in the U.S., with older Black workers without a college degree more likely to be forced to exit the labor market prematurely, a study showed.
At least 1.7 million older workers retired early because of the pandemic crisis, according to a report by the New School for Social Research’s Retirement Equity Lab.
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U.S. workers say retirement is getting harder to afford, raising questions about how organizations can help workers save, understand their benefits, and plan ahead.
With financial preparedness a continuing challenge, according to a new MetLife survey, employers have the opportunity to better equip their people through emergency savings and financial wellness benefits.
Alternative retirement options are growing in popularity as employees reject traditional, more rigid, plans.
Young professionals are struggling more than their older counterparts to juggle their jobs, debt, and families with aging parents.
Expansion of savings vehicles, along with the largest transfer of wealth in U.S. history, bodes well for plan participants as advisers shift to offering ongoing financial guidance.
