Employee Benefit News

EBRI: Low interest rates could ding retirement plans

In a scenario where retirement income and wealth account for 100% of an investor’s simulated retirement expenses, a model projects that around a quarter of baby boomers and Gen Xers who would have had sufficient retirement income under interest rates at historical averages would run out of money if the current low rates were taken as a permanent condition.

A Mother's Advice Updated for Our Digital World

Making connections is as important as ever, though the process is changing considerably.

Denver Pays Wall Street $216 Million as Swaps Fail: Muni Credit

Wall Street banks collected $215.6 million that Denver’s public schools paid to unwind swaps and sell bonds since the district began borrowing to cut pension costs in 2008. That sum is about two-thirds of annual teaching expenses.

Detroit Emergency Manager Targets Long-Term Debt for Cuts

Detroit may run out of cash next month and must cut costs such as long-term debt and retiree obligations, according to emergency financial manager Kevyn Orr’s preliminary plan to improve services and keep Michigan’s largest city out of bankruptcy.

Is retirement in your portfolio? It’s on everyone’s minds

A real opportunity for advisers lies in the ambitions of Gen X and Gen Y Americans, who aren’t planning on postponing retirement — yet.

BlackRock’s Fink Says Workers Need Mandatory Retirement Savings

Laurence D. Fink thinks U.S. employers should be required to put money aside for their employees’ retirement, similar to Australia’s superannuation system.

Illinois House Approves Pension Bill Asking Workers to Pay More

The Illinois House of Representatives approved a bill designed to repair the nation’s worst-funded pension system by raising contribution levels for state employees and delaying the retirement age.

AIP reports more companies dropping 401(k) match

According to this week’s 401(k) Performance Survey, approximately 5% of 401(k) plans, or 13,811 plans, stopped matching in 2010, and an additional 2% halted the employer match in 2011.

Two ways to increase retirement savings

John Ludwig on how to help employees can increase their retirement savings including auto escalation and auto enrollment.

Retirement expert on ‘the biggest social crisis of our time’

Transamerica’s Stig Nybo author of Transform Tomorrow: Awakening the Super Saver in Pursuit of Retirement Readiness on how building a proper retirement nest egg is a big social crisis.

DCDB|Adviser

Hartford Financial advances after profit beats estimates

Hartford Financial Services Group Inc. climbed in New York trading yesterday after profit beat estimates and the insurer’s margins widened.

GAO: IRA advice questionable

The U.S. Government Accountability Office released a report in April saying that employees switching jobs often receive guidance by 401(k) companies to roll their accounts into an IRA, even when that might not be the best course of action.

“We want to be your business partner”

If you’re an advisor or a TPA like we are, you’ll be found.

LIMRA: A Third of Americans Fail Financial Literacy

Americans who work with a financial professional, had a college education and more than $100,000 in household assets are more likely to have a higher financial literacy.