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Demographics, Covid speed looming retirement crisis
A report from the Alliance for Lifetime Income calls for new retirement income model that includes annuities.
Bipartisan group proposes savings plan for low-income workers
The program would be modeled after the government’s Thrift Savings Plan for federal employees.
82% of Americans say Covid affected their retirement plans
A Fidelity study underscores the importance of financial planning, but reveals that the term means different things to people of different ages.
Just 26% of near-retirees have saved enough
Schroders survey shows that more Americans worry about the Netflix lineup than finances or investments.
One in six people now aim to retire before 55
Of the roughly 70 million U.S. households with primary breadwinners younger than 55, 11.5 million are planning to retire by that age, according to a report from Hearts & Wallets.
How Covid-19 changed retirement planning
When to claim Social Security is the top question for new retirees.
When retirement money is tied up in a business, closing hurts
Small-business owners across industries who are nearing retirement have said they are worried about their financial security.
Jackson National top seller of annuities in 2020
The insurer also led in variable annuity sales last year, while New York Life sold the most fixed annuities.
New York Life to pay $10.9 million for annuity replacement violations
New York state says the insurer failed to adequately inform consumers about the differences between products.
Wealthier clients saving in 401(k)s may fall into tax trap
Too much money in tax-deferred retirement accounts could undermine clients' financial plans if taxes rise in the future to pay for today’s exploding government spending.
Stalking a Social Security application decision
The application for benefits was submitted more than seven weeks earlier; persistence pays off in tracking down why the response took so long.
Jackson National to be spun off by UK insurer Prudential
An initial public offering of a stake in Jackson, one of the biggest annuities providers in the U.S., will be held in the first half of 2021, according to a Prudential statement.
Retirement risk rose slightly in 2020, study finds
Roughly half of American households may not be able to maintain their standard of living in retirement, according to a report from the Center for Retirement Research.
89% of women failed retirement literacy quiz: Study
But older women are more willing to seek financial planning help than men, according to a survey by The American College of Financial Services.
Solving for retirement security: Lessons from the DC institutional market
Future innovations in DC plans will come as much from retirement plan advisers and their clients as from the institutional market.
‘Adoption is the next innovation’: Forecasting fintech in 2021 and beyond
The use of new technologies and solutions will mean fundamental shifts in the financial services industry
Social Security shortchanged some older workers, survivors
Two new audits reveal underpayments to certain groups of beneficiaries
Getting annuities onto 401(k) plan menus
SECURE Act provisions providing plan fiduciaries with some legal protection, requirements for lifetime income disclosures on 401(k) statements and a volatile stock market all bode well for these products
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?
Advisers will need to act to help clients navigate what is potentially a looming financial crisis
