Young investors take cues from parents, seek face-to-face advice
When it comes to accessing information on financial investments, most young investors turn to traditional media, according to a recent survey.
Financial planning
In-plan retirement advice still under-used, but confidence-boosting
The availability of in-plan investment advice appears to have increased. In a recent survey, almost eight in 10 participants (79%) said that their plans offer online, telephonic or in-person advice, up from 72% in 2011.
ADP goes wide with mobile retirement services
Participants using the companys retirement app have an average deferral rate 11% higher than the average deferral for all participants covered by plans, according to a recent survey
Affluent Americans naively optimistic about their retirement readiness
A new survey finds that while most wealthy Americans have a retirement plan in place and feel confident about their retirement readiness, they may be underestimating how much money they will need once they retire.
Senate bill aims to prevent 401(k) leakage
The American Society of Pension Professionals and Actuaries is applauding a bipartisan push to make it easier for workers to repay withdrawals they make from their employer-sponsored defined contribution plans.
Three 20-somethings discuss their retirement prep
As part of EBNs upcoming portrait of Generation Ys financial planning, we spoke with a trio of young investors. Unsurprisingly, the one whos doing the most to help her 401(k) works in the benefits field.
Putnam CEO urges retirement industry to evolve
We find ourselves moving ever so tentatively into a financial future with seemingly only one certainty: It will likely be very different than the investment world in which we all grew up, Putnam Investments CEO Robert Reynolds said at a recent industry event.
By
Irene Park
EBRI: Retirement confidence remains at record low
The 23rd annual Retirement Confidence Survey, the longest-running survey of its kind, reports 28% the highest level in the surveys history are not at all confident about being able to afford a comfortable retirement
Survey: Majority stressed about retirement saving
More than one-third (37%) of respondents in a Franklin Templeton poll say they are more concerned about outliving their assets or having to make major sacrifices to their retirement plans today than 12 months ago.
By
Irene Park
Employer, employee 401(k) participation holds steady
The number of employers offering a sponsored retirement plan slightly increased in 2012 from four years prior, while matches and employer contributions remained near constant, according to a survey released today by WorldatWork and the American Benefits Institute.
Americans prioritize gym, dentist over financial planning
More than eight in 10 Americans (84%) expect to see their dentist this year for regular cleanings while less than half (43%) plan to meet with their financial adviser to review their investment strategies, according to a survey on retirement from the PNC Financial Services Group.
Best (and worst) places for retirement globally
Western European nations, backed by strong health care and retiree social programs, dominated the top of the list, snagging the first 10 slots in an index based on data from sources including the World Bank and the United Nations.
MassMutual: Women closing retirement gap
MassMutuals fourth quarter data show that the average 401(k) deferral rate for female participants was 5.38%, an increase of 1.6% for the quarter. In comparison, male participants are saving at 5.81% on average, an increase of 1.2% from the previous quarter.
By
Paula Vasan
401(k) loans down
New 401(k) loan transactions were down approximately 5% year-over-year, and total hardship and in-service withdrawals were down nearly 8%, according to Bank of America Merrill Lynchs most recent 401(k) Wellness Scorecard, released Thursday.
401(k) plans need work, but are far from failed experiment
At least one expert at a panel at this weeks ASPPA 401(k) Summit in Las Vegas said the plans work well for people who can afford to contribute large amounts and who dont withdraw the money, but acknowledged they do little for low- to moderate-income workers.
Choose TDF first, then recordkeeper
At the ASPPA 401(k) conference, going on this week in Las Vegas, financial advisers said that too often, plan sponsors pick their recordkeeper and then default to the investments options offered, when it should be the other way around.
DOL resolves important ERISA issues on cleared swap transactions
ERISA plans, as financial entities, will be required to clear certain over-the-counter swaps (i.e., not executed on an exchange) at a derivatives clearing organization.
LIMRA: Gens X & Y blasé about retirement saving
How many Gen X and Gen Y consumers are saving for retirement? Not nearly enough, according to industry research group LIMRA.
Avis Budget implements advice access
Rental car agency Avis Budget Group puts its 401(k) plan participants in the drivers seat with access to investment advice.
ING U.S. launches retirement benchmarking tool
After inputting age, income and additional retirement savings information, individuals are shown personalized scores that reflect the amount of their retirement savings as a multiple of their annual income.