Last year’s market plunge and quick recovery appear to have changed the way people feel about the value of guaranteed lifetime income, Cannex found. In February 2020, 71% of people said they found guaranteed lifetime income highly valuable, but that figure had dropped to 63% by August.
The company said that year that it would separate the life and retirement unit from its sprawling property-casualty operation, furthering the dismantling of the insurance giant.
The changes, which take effect May 1, mark the second time in a year that the company has significantly altered its insurance-series funds to make them match their better-known retail counterparts.
With the deal for Atlanta Plan Partners, which oversees more than 130 retirement plans, OneDigital Investment Advisers will serve approximately 5,000 retirement plans.
The retirement plan aggregator's national footprint grows to more than $600 billion with the addition of Cammack Retirement Group, which serves more than 170 plan sponsors.
If the goal is to collect the largest possible survivor benefit, wait until full retirement age to claim it.
It’s widely accepted, because it’s true, that retirement planning lags significantly for most American workers. Musk and Tesla chose the wrong history to buck.
The RISE accounts Edelman is proposing would be funded initially by $5,884, and people would be able to begin receiving retirement income checks starting at age 70.
The banking giant, which was convicted of wire fraud in connection with a Libor-rigging scheme, currently enjoys key rule exemption.
The rule, which was proposed last year and goes into effect next Tuesday, essentially replaces the defunct Obama-era version that regulated investment advice for 401(k)s and rollover IRAs. It provides an exemption for investment advice fiduciaries under the Employee Retirement Income Security Act.
The new world of working from the comfort of home has made employment a touch more tolerable, leading many to stay in their current jobs indefinitely, or accept new offers for part-time or temporary work.
The legislation would allow an inflation adjustment for stock or business property held by people 59 ½ or older who have held the assets for more than three years. The inflation adjustments would be made according to the Chained Consumer Price Index for All Urban Consumers.
While the Labor Department has ended its support for the suit seeking to invalidate California's auto-IRA, the analysis in its amicus brief is still part of the record before the court.
The company is among a slim minority of defined-contribution plan sponsors. According to Vanguard’s 2020 How America Saves report, only 4% of its record-keeping clients did not make contributions of any kind to the company retirement plans.
Though retirement planning seems so critical to those of us in the defined-contribution industry, just as copy machines seem to their salespeople, plan sponsors may not feel the same.
Nearly three-quarters of women with investible assets of $100,000 or more say the pandemic has negatively impacted their ability to retire, but as that is happening, more women are turning to financial professionals for advice, according to a Nationwide survey.
Survey finds most institutional investors look for sustainable investing and diversity criteria when hiring equity managers.
Health savings accounts can be one of the best ways to save for retirement. But the money to fund them must come from somewhere, and for many, the most obvious place appears to be the 401(k).
Relatively few people tapped their retirement accounts, but 20% drew on their emergency savings and 18% increased their credit card debt.
The Coca-Cola Bottlers' Association this week was sued over fees and investments in its multiple employer plan. Former participants in a terminated 403(b) sponsored by a health care system also filed claims.
