Retirement

As Americans struggle in the recession’s aftermath to prepare for retirement, those who have taken the time to put together a financial plan feel more confident and report more success managing money, savings and investments than those who have not.

The Department of Labor is looking into whether JPMorgan Chase & Co. violated its fiduciary duty under the Employee Retirement Income Security Act in connection with one of its stable value funds.

Data collected from the 13th Annual Transamerica Retirement Survey makes it clear that the effects of the “Great Recession” have taken their toll on not just retirees, but the unemployed and underemployed as well.

More than three-quarters of plan participants (78%) know it is important to determine how much to save for a secure retirement but only a third claim to have the knowledge to determine that amount, according to a survey released Wednesday by State Street Global Advisors.

Employer matches aren’t as strong an inducement to get employees into the 401(k) plan as you might think, according to Brigitte Madrian, professor of public policy and corporate management in the Aetna Chair at Harvard’s Kennedy School of Government.

According to a recent LIMRA survey, 61% of consumers who worked with an adviser contributed to a retirement plan or an IRA and are saving at a higher rate compared to only 38% of consumers who weren't working with an adviser.

The health care trust affiliated with the United Auto Workers named a former Stanford University official and Hewlett-Packard Co executive to manage its $54 billion in assets earmarked for retiree medical benefits.

Advisers are more committed than ever to helping clients with their retirement income planning, but they face a host of challenges, including not knowing where to go to build their knowledge of retirement planning.

Even with women making great strides in workplace parity and achieving greater financial independence, they continue to lag behind men in many key areas of financial planning.

I turned 55 on July 2. As a member of the Baby Boom generation who hopes he’s aging like a fine wine and not turning into vinegar, I abhor the idea of losing money again in a 2008-style meltdown.