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More than three-and-a-half years after COVID struck, the U.S. still has around 2 million more retirees than predicted, in one of the most striking and enduring changes to the nation’s labor force.
The so-called Great Retirement induced by COVID-19 is evident in the divergence between the actual number of retirees and that predicted by a Federal Reserve economic model. While down from a 2.8 million gap late last year, it remains elevated today and has even risen from 1.7 million in June.
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Public sectors are approaching chronic disease support out of necessity, leading to benefits that build a stronger workforce.
Employees are facing rising financial stress, retirement savings gaps, and competing priorities but new financial wellness trends are emerging to help.
A new TIAA study finds many retired workers wish they had saved sooner, planned for healthcare costs, and prepared for career disruptions that delayed or reshaped retirement.
Young professionals are struggling more than their older counterparts to juggle their jobs, debt, and families with aging parents.
Emphasizing the importance of 401(k) savings preservation will help more employees achieve the American Dream and improve their lives before and after retirement.
