Retirement

House Democrats on Wednesday introduced legislation that would expand the role of the U.S. Securities and Exchange Commission to conduct oversight examinations of investment advisers, a segment of the financial services sector that lawmakers on both sides of the aisle have agreed is under regulated.

One-third of “transition boomers,” those aged 55 to 65 and who are 10 years or fewer away from retirement, are unsure how much money they will need to cover basic living expenses in retirement, according to The Transition Boomers and Retirement Income Survey, from Allianz Life Insurance Company of North America.

Worries persist that working Americans aren’t saving enough to afford a life of leisure, but maybe retirement isn’t all that it’s cracked up to be.

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.