Retirement

Men and women are equally likely to say that they and/or their spouse have saved — or are currently saving — for retirement. And they are almost as likely to indicate that they have tried to calculate how much they will need to save for a comfortable retirement, with 45% of women and 47% of men claiming to have tried to make that calculation.

Baby boomers are bucking the trends of generations before them, according to research released this week from Bank of America Merrill Lynch. When it comes to what they will pass on, 72% cite values and life lessons as most important, while just 32% said financial and real estate assets.

Laurence D. Fink thinks U.S. employers should be required to put money aside for their employees’ retirement, similar to Australia’s superannuation system.

The Fidelity Investments findings show that average balances in small business retirement savings plans increased 20% since 2007, and jumped an average of 64% over 2008 when balances were generally at their lowest point.

Nearly three out of five retirees say they retired earlier than they expected, according to a survey of retirees and pre-retirees conducted by Bank of America Merrill Lynch. Just one in nine pre-retirees, meanwhile, is completely confident in their ability to pay for their health care retirement expenses.

The Illinois House of Representatives approved a bill designed to repair the nation’s worst-funded pension system by raising contribution levels for state employees and delaying the retirement age.

Less than half (42%) were aware that that their take-home pay would decline this year due to the recent elimination of the payroll tax holiday by Congress. The awareness was greater among men.

According to this week’s 401(k) Performance Survey, approximately 5% of 401(k) plans, or 13,811 plans, stopped matching in 2010, and an additional 2% halted the employer match in 2011.

Hartford Financial Services Group Inc. climbed in New York trading yesterday after profit beat estimates and the insurer’s margins widened.

Studying a plan sponsor with 200,000 participants and a 25% annual turnover rate, BRG found that departing employees with personalized start-to-finish help from impartial counselors cut cashout rates in half and saved an estimated $6 million in costs.