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A significant number of advisers who serve 401(k) plans will ramp up their retirement income planning practices over the next few years, according to a new report from Principal Financial, called the 2011 Best Practices in Retirement Income Planning Study.
Americans are divided on their outlook for the economy, a Harris poll of 2,464 adults earlier this month found. Twenty-one percent expect the economy will improve, 45% think it will stay the same, and 34% fear it will get worse.
Eighty-four percent of 401(k) sponsors surveyed by Mercer and the U.S. SIF Foundation (formerly known as the Social Investment Forum Foundation) believe that sustainable and socially responsible investment funds will either hold steady or grow in the next five years.
Four years from now, the median account balance of a defined contribution plan will reach $150,000, up from $100,000 today – a decent-sized nest egg by most standards, but a far cry from the $1 million or more experts say is needed to sustain a retiree's lifestyle and health care costs. Thus, one-third of those "retiring" will continue to work and a majority of senior workers will be saving a portion of their earnings for "true old age," when they actually stop working.
The Defined Contribution Institutional Investment Association has issued a report calling on employers to limit leakage from 401(k) plans, "Plug the Drain: 401(k) Leakage and the Impact on Retirement."
The dot-com crash and the Great Recession have taken a serious and lasting toll on the risk appetites of Generation Y, according to the latest MFS Investing Sentiment Survey. This generation, between the ages of 18 and 30, are investing more like their parents and grandparents, many of whom grew up in the shadows of the Great Depression, says William Finnegan, senior managing director of U.S. retail marketing for MFS.
With employers increasingly embracing mobile app technology for delivering benefits information, more vendors are getting into the game to serve the growing market. Enter the latest, Left Coast Solutions, which has developed iJoin, an application for smartphones and other mobile devices that helps investors determine how much they need to save for retirement to replace their monthly income.
401(k) investors and sponsors are likely to stand up and take notice of the fees that will be clearly presented to them in April, particularly the fact that investors pay most of the administration fees. These administration fees, or expense ratios, cover not just fund management but also recordkeeping, auditing and broker commissions.
Most target-date funds are not as diversified as they could be, and particularly as they increase in popularity in 401(k) plans, their design needs to be revisited, according to Folio Investing.
Four years from now, the median account balance of a defined contribution plan assets will reach $150,000, up from $100,000 todaya decent-sized nest egg by most standards, but a far cry from the $1 million or more experts say is needed to sustain a retirees lifestyle and health care costs.
In light of the recent market volatility, a new report from Fidelity Investments analyzing the performance of 401(k) balances between Oct. 1, 2008 and June 30, 2011 is quite telling giving a testimonial to the value of sticking with the stock market even amid the worst declines.
Middle-income baby boomers, those earning between $30,000 and $74,000, are vastly underserved in terms of preparing for retirement, according to a new Insured Retirement Institute report, Middle-Income Boomers and Retirement: Tapping the Significant and Underserved Middle-Income Market.
Middle-income Baby Boomers, those earning between $30,000 and $74,000 are vastly underserved in terms of preparing for retirement, according to a new report from the Insured Retirement Institute, Middle-Income Boomers and Retirement: Tapping the Significant and Underserved Middle-Income Market.
Forty-two percent of workers are living paycheck to paycheck, down slightly from the 43% who were in this financial state in 2010, CareerBuilder found in a survey of 5,200 workers. This 42% level is at pre-recession levels, indicating that while incremental, household finances are improving.
Forty-two percent of workers are living paycheck to paycheck another reason clients have to help employees wring maximum value from their compensation.
Rather than focus on the traditional notion of saving for retirement, asset management firms serving affluent investors with a minimum of $100,000 to invest and who are between the ages of 40 and 60 should understand that most of these people never intend to leave the workforce, according to Hearts & Wallets.
The Defined Contribution Institutional Investment Association has issued a report calling on employers to limit leakage from 401(k) plans, Plug the Drain: 401(k) Leakage and the Impact on Retirement.
Despite arguments that retirees should be exposed to equities in order to bring enough growth in their portfolios to last throughout their retirement, Morningstars president of the investment management division, Peng Chen, argues in a new article that retirement portfolios must include a conservative bent that includes longevity-insurance products.
Folio Investing research finds that other target-date funds lose 1% or more a year in performance due to inadequate diversification. The funds would do well to take a more institutional approach by looking at the relationship between asset classes to reduce risk, improve performance and deliver more consistent returns.
While recent legislation has sparked debate about suitability versus fiduciary standards, a majority of investors do not understand the difference between the two, a survey by J.D. Power and Associates finds.