Retirement

George Castineiras, senior vice president of total retirement solutions at Prudential, says with 10,000 baby boomers turning 65 for every day for the next 16 years, it’s an exciting time to watch the “money in motion.”

“The consumer demand for income annuities has grown steadily during the past two years as consumers seek to generate a guaranteed stream of retirement income,” says Cathy Weatherford, IRI president and CEO.

The Employee Benefit Research Institute and the Investment Company Institute say more and more 401(k) plans are offering target date funds, and more participants are using them — but the adoption rate has moved at a slower pace.

Auto-enrollment and –increase features continue to see success in defined contribution plans, reports Bank of America Merrill Lynch, which serves 2.5 million plan participants.

After reading research from the Investment Company Institute concluding that defined contribution plans don't "reduce retirement preparedness," EBN Editor Kelley Butler channeled a "Saturday Night Live" skit to offer her perspective.

Looking at the Department of Labor’s 408b2 rules six months later.

Research from Fidelity shows defined contribution balances are growing yet EBRI data reveal retirement confidence is at an all-time low.

Although research finds an increased risk of developing macular degeneration among long-term aspirin takers, study authors still advise patients who take aspirin for cardio-vascular reasons to continue to do so.

Next year, the maximum IRA contribution rises from $500 to $5,500. One wealth management expert advises immediately changing salary deferrals.

Three out of 10 Americans between the ages of 55 to 70 have not begun even basic retirement planning, LIMRA reports, and only 15% have a formal, written retirement plan.