Retirement

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Collapse of three-legged stool threatens retirement security
RETIREMENT PLANNING OCT 27, 2020
Collapse of three-legged stool threatens retirement security

The worsening outlook will likely trigger 401(k), Social Security reform

AIG to split off life insurance and retirement unit, names new CEO
RETIREMENT PLANNING OCT 26, 2020
AIG to split off life insurance and retirement unit, names new CEO

Peter Zaffino, currently the company's president, will succeed current CEO Brian Duperreault March 1

Demand for financial wellness is overwhelming
RETIREMENT PLANNING OCT 26, 2020
Demand for financial wellness is overwhelming

Plan sponsors want the services for their participants, but wellness has done little to help people improve their financial lives

Americans worry inflation will make retirement unaffordable
RETIREMENT PLANNING OCT 26, 2020
Americans worry inflation will make retirement unaffordable

59% of those surveyed by Allianz believe rising costs will prevent them from enjoying life in retirement

INmail: Social Security do-over options
RETIREMENT PLANNING OCT 26, 2020
INmail: Social Security do-over options

Someone who has been collecting Social Security for more than a year can't stop her benefits now, but she might be able to in the future.

160 at MassMutual face layoffs due to Empower deal
RETIREMENT PLANNING OCT 23, 2020
160 at MassMutual face layoffs due to Empower deal

About 90% of a group of 2,000 MassMutual workers have been informed that they will receive job offers, according to the companies

Auto-IRA states, AARP blast CalSavers lawsuit claims
RETIREMENT PLANNING OCT 23, 2020
Auto-IRA states, AARP blast CalSavers lawsuit claims

Oregon, Illinois and others are backing California in a legal attack on the state's auto-IRA system, while the Trump administration has taken the opposite side

UBS rolls out small-business 401(k) fiduciary program
RETIREMENT PLANNING OCT 22, 2020
UBS rolls out small-business 401(k) fiduciary program

The firm is also adding student-loan guidance for workplace wealth clients

Empower Retirement posts $110 billion in new-client sales
RETIREMENT PLANNING OCT 22, 2020
Empower Retirement posts $110 billion in new-client sales

The No. 2 record keeper added smaller adviser-sold plans as well as megaplans

401(k) record keepers near final stage of ‘consolidation curve’
RETIREMENT PLANNING OCT 21, 2020
401(k) record keepers near final stage of ‘consolidation curve’

There are lessons from numerous other industries that have gone through the full consolidation process

Fiduciary insurance costs soar amid new 401(k) litigation
RETIREMENT PLANNING OCT 21, 2020
Fiduciary insurance costs soar amid new 401(k) litigation

It is arguably a scary time to be a retirement plan sponsor, and many might forgo liability coverage

Pandemic fuels retirement fears, study finds
RETIREMENT PLANNING OCT 21, 2020
Pandemic fuels retirement fears, study finds

The majority of workers affected by COVID-19 are pessimistic, a Wells Fargo study shows

Labor Department moves at 'warp speed' on ESG rule
RETIREMENT PLANNING OCT 21, 2020
Labor Department moves at 'warp speed' on ESG rule

The proposed rule, which would make it more difficult for retirement plans to invest in ESG, was submitted to the White House last week

Timely tax strategies on the eve of the election
OPINION OCT 20, 2020
Timely tax strategies on the eve of the election

Tax rates are more advantageous now for realizing compensation and capital gains than they likely would be after a hypothetical 'blue wave' election

More participation equals more savings, Fidelity study of retirement plans finds
RETIREMENT PLANNING OCT 20, 2020
More participation equals more savings, Fidelity study of retirement plans finds

Workers enrolled in both stock purchase plans and company 401(k)s tend to save more

NYSE threatens to move out of New Jersey if trade tax is imposed
REGULATION AND LEGISLATION OCT 19, 2020
NYSE threatens to move out of New Jersey if trade tax is imposed

A test in which the exchange temporarily moved its production servers out of New Jersey was successful, exec says

Bill would let 403(b)s use PEPs
RETIREMENT PLANNING OCT 19, 2020
Bill would let 403(b)s use PEPs

There could be even more demand for pooled employer plans from nonprofit organizations than from the for-profit side

INmail: Birthdate foils ex-spouse’s Social Security claiming strategy
RETIREMENT PLANNING OCT 19, 2020
INmail: Birthdate foils ex-spouse’s Social Security claiming strategy

Only people born on or before Jan. 1, 1954, have the right to file a restricted claim for spousal benefits.

Planning for uncertainty around Social Security
OPINION OCT 19, 2020
Planning for uncertainty around Social Security

The shutdown caused by the pandemic threw millions of people out of work, which cut into the FICA payroll taxes that fund Social Security payments

How secure is Social Security?
RETIREMENT PLANNING OCT 19, 2020
How secure is Social Security?

Advisers will need to act to help clients navigate what is potentially a looming financial crisis