Retirement

Employees will receive personalized insights, guidance and tools to build a financially secure retirement.

“Financial wellness is front and center [for employers], so the partnership between Betterment and Lumity made perfect sense,” says Amit Ahluwalia, Lumity’s national employee benefits practice leader.

Many low-paid workers without much retirement savings found themselves forced out of their jobs with little prospect of finding employment again. Retiring before the full retirement age will result in a cut in their Social Security benefits, by as much as 30%.

When employees change jobs, auto portability can help avoid risky and premature cash outs.

In a panel discussion, three financial advisers explained why the products are often misunderstood and how to assist clients in evaluating their policies.

If you have a special number in mind for your golden years, it should be how much you’ll be able to spend each year. And financing that spending brings many new risks into the picture.

About 2.7 million Americans age 55 or older are contemplating retirement years earlier than they’d imagined because of the pandemic.

More than a third of respondents who said they’d retired earlier than planned said a hardship like a health problem or disability was the reason.

The pandemic-driven migration out of big cities could lead to more missing participants, and going forward, more small, stranded retirement accounts.

Three-quarters of employees feel confident that they will have a comfortable lifestyle in retirement.