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Most Minnesota registered voters ages 35-64 who are in the workforce hope to retire and stop working at the average age of 66, but many do not feel financially prepared. Nearly three-quarters support a state retirement savings plan that would help residents save for retirement through a public-private partnership, according to a new survey from AARP Research.
The study examined eight key factors which were weighted in line with a nationally representative survey of non-retired U.S. adults. From most to least important, the categories were: cost of living, healthcare quality, crime, cultural vitality, weather, taxes, senior citizensí well-being and the prevalence of other seniors.
As 401(k) plan participants reach retirement, they face the challenge of making their savings last for an unknown lifespan, and many 401(k) plan sponsors do not offer options to help participants with this complex task.
An increase in average life expectancy for individuals in the United States is a positive development, but also requires more planning and saving to support longer retirements, according to a newly released report from the Government Accountability Office (GAO). At the same time, as life expectancy has not increased uniformly across all income groups, proposed actions to address the effects of longevity on programs and plan sponsors may impact lower-income and higher-income individuals differently.
The White House this week unveiled a series of proposals aimed at ensuring near universal access to workplace retirement savings accounts and creating a path to a more portable retirement benefits by testing what works.
A new report illustrates that todayís workers are expecting to transition into retirement but face a significant obstacle: Few employers have employment practices to support them.
A bad plan, with exorbitant fees and poor fund choices, can mean surrendering hundreds of thousands of dollars in retirement savings during the years of investing.
A bicameral group of congressional Democrats sends a letter to Secretary of Labor Thomas Perez encouraging the Employee Benefits Security Administration to issue guidance on innovations designed to help workers retain retirement savings between jobs.
The latest revisions to the Employee Retirement Income Security Act (ERISA) guidelines will allow retirement asset investments that yield social and environmental impact. The revisions address guideline changes made in 2008 that limited investorsí ability to use socially conscious investment vehicles. Indeed, ERISAís latest revision has the potential to stimulate investment of the nationís $25 trillion in retirement assets in affordable housing and equitable economic development.
If you're a CEO at one of the nation's top 100 corporations, your retirement nest egg closely resembles the national budget of, say, a small European country.
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