Retirement

“Over the past few years it’s [been] closing the plan, freezing the plan -- now, we’re actually seeing them trying to shed the liability,” Fidelity’s Laurie E. Vance said in Washington.

“Those with an income shortfall are far more likely to be low-income, low-asset households, and they spend down their liquid assets at a far faster rate than households that do not have an income shortfall,” says one expert with the Employee Benefit Research Institute.

“Those with an income shortfall are far more likely to be low-income, low-asset households, and they spend down their liquid assets at a far faster rate than households that do not have an income shortfall,” says one researcher with the Employee Benefit Research Institute.

Even companies who have no interest in getting involved with a public health care exchange for active employees might help steer their pre-65 retirees toward the marketplace, experts with Fidelity Investments said Thursday.

The average U.S. balance rose 12% from 2011 to $77,300 as of Dec. 31, 2012, according to a report this month.

Those between the ages of 40 and 50 were the most likely (25%) to say they were “not confident” or “completely doubtful” in their ability to retire and maintain their current lifestyle.

More than half of U.S. Gen X and Gen Y consumers admit having little or no knowledge about investments and financial products, according to a recent LIMRA study.

Employer applications are now being accepted for the 2013 Financial Fitness Challenge, an engaging and effective online financial education program made available by Employee Benefit Adviser and /i>.

The Financial Fitness Challenge is an event-driven program that provides unbiased, online, interactive instruction in personal finance and investing fundamentals. It is designed for all employees, regardless of age, education or income.

Most (91%) are confident in their ability to manage their personal finances, according to a recent survey by Allstate, even as more than 40% are living paycheck-to-paycheck.