A NATIONAL FRAMEWORK FOR CLOSING THE RETIREMENT SAVINGS COVERAGE GAP RONALD P. O HANLEY PRESIDENT & CEO STATE STREET GLOBAL ADVISORS
|
|
- Sarah Howard
- 6 years ago
- Views:
Transcription
1 A NATIONAL FRAMEWORK FOR CLOSING THE RETIREMENT SAVINGS COVERAGE GAP RONALD P. O HANLEY PRESIDENT & CEO STATE STREET GLOBAL ADVISORS
2 Source: Pensions & Investments, February 17,
3 Gen Xers Retirement Saving Shortfalls by Individual For Those Households with a Deficit, by Marital Status and Gender $160,000 $140,000 $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $0 Single Male Single Female Family Source: Jack VanDerhei. Retirement Savings Shortfalls: Evidence from EBRI s Retirement Security Projection Model, EBRI Issue Brief, no. 410 (February 2015) For illustrative purposes only. 3
4 Goldie Michelson at Clark University in 2008 Photo credit Clark University 4
5 Our Forecast: 3 and 5-year annualized returns across all asset classes barely breach the mid-single digits Source: State Street Global Advisors (SSGA) Investment Solutions Group (ISG) long term asset class forecasted returns (30-year annualized) as of December 31, It is not possible to invest in an index. Past performance does not guarantee future results. 5
6 Balance at Retirement The Power of Starting Early Balance at Retirement by Start Age $400,000 $300,000 $200,000 $100,000 $ Age of Initial Savings Source: State Street Global Advisors The above is for illustrative purposes only. The calculations assume a retirement age of 65, a savings rate of 11%, annually salary of $30,000, expected return of 5.17% and an investment in a 60% (S&P 500)/40% (U.S. Aggregate Bond) balanced fund as of December The simulation assumes a simple annual contribution and no wage growth. 6
7 Time Is Not on Our Side 7
8 Choosing the Right Path 8
9 Retirement Savings at Age 65 Comparing 401k to IRA Savings $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0 $25,000 $30,000 $35,000 $40,000 $45,000 Starting Salary Source: State Street Global Advisors For illustrative purposes only. Analysis assumes starting age of 21 years old, retirement age of 65, with 2.5% annual wage growth rate. Investors assumed to be invested in Target Date Funds and risk and return expectations for those Funds provided by SSGA s Investment Solutions Group as of December 31, For the 401(k) participant, analysis assumes constant 11% savings rate (an 8% employee contribution and 3% employer match) and annual contribution cap of $18,000. For the IRA holder, analysis assumes constant 8% savings rate and annual contribution cap of $5, (k) IRA 9
10 States Taking Action to Create Plans for Small Employers Since 2012, at least 30 states have considered proposals to study or establish state sponsored plans Source: Georgetown University Center for Retirement Initiatives, as of May For illustrative purposes only. Laws enacted (2012-present) Legislative proposal and/or study in 2016 Recent state efforts ( ) No legislative actions underway 10
11 Choosing the Right Path 11
12 National Framework Auto-Enroll All Private Sector Workers Into a DC Plan Auto Escalation and Default Investments Tax Credits For Small Employers Eliminate Barriers To Open Multiple Employer Plans 12
13 Auto-Enroll All Private Sector Workers into a DC Plan 13
14 Source: Institutional Investor, June 5,
15 Auto-Escalation and Default Investments 15
16 Recently Hired Participants Holding Target Date Funds 28.3% 34.3% 44.4% 47.9% 49.8% 55.2% 57.3% 56.3% 58.9% Source: Jack VanDerhei. 401(k) Plan Asset Allocation, Account Balances, and Loan Activity in 2013, EBRI Issue Brief, no. 423 (April 2016) For illustrative purposes only. 16
17 Helping Small Businesses 17
18 Tax Credits For Small Employers 18
19 Eliminate Barriers to Open Multiple Employer Plans 19
20 How Does Our Plan Stack Up? 20
21 EBRI: Impact of Modifying Coverage Auto IRAs Reduction in Retirement Savings Shortfalls for Various Scenarios (Baseline = $4.19 trillion) 3%, no opt-out 6.5% 3%, 10% opt-out 5.9% 6%, no opt-out 11.9% 6%, 10% opt-out 10.7% Source: EBRI. Retirement Savings Shortfalls (RSS) represent the present value (at age 65) of all simulated deficits in retirement for households where the head of household is Assumptions for auto IRA scenario: All employers (regardless of size) are required to provide DB/DC or Auto IRA, no erosion from DC to Auto IRA, Husband's employer size is used to categorize employer size for married HH, 100% autocorrelation for employer size. For additional detail, see: VanDerhei, Jack, Auto-IRAs: How Much Would They Increase the Probability of 'Successful' Retirements and Decrease Retirement Deficits? Preliminary Evidence from EBRI s Retirement Security Projection Model, June For illustrative purposes only. 21
22 EBRI: Impact of Modifying Coverage SSGA Plan Reduction in Retirement Savings Shortfalls for Various Scenarios (Baseline = $4.19 trillion) No opt-out 17.7% 10% opt-out 16.1% 25% opt-out 13.6% Source: EBRI Retirement Security Projection Model Version 2590 Retirement Savings Shortfalls (RSS) represent the present value (at age 65) of all simulated deficits in retirement for households where the head of household is For additional detail, see: Jack VanDerhei, Retirement Savings Shortfalls: Evidence from EBRI s Retirement Security Projection Model, February For illustrative purposes only. 22
23 EBRI: Impact of Modifying Coverage SSGA Plan Reduction in Retirement Savings Shortfalls for Various Scenarios by Age (Baseline = $4.19 trillion) 28% 25% 24% 25% 21% 21% 24% 21% 18% 18% 16% 13% 10% 10% Opt-out Scenarios 0% 10% 25% 8% 7% 6% 5% Source: EBRI Retirement Security Projection Model Version 2590 Retirement Savings Shortfalls (RSS) represent the present value (at age 65) of all simulated deficits in retirement for households where the head of household is For additional detail, see: Jack VanDerhei, Retirement Savings Shortfalls: Evidence from EBRI s Retirement Security Projection Model, February For illustrative purposes only. 23
24 Making Retirement Work 24
25 Questions?
26 Disclosures This document may contain certain statements deemed to be forward-looking statements. All statements, other than historical facts, contained within this document that address activities, events or developments that SSGA expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions and analyses made by SSGA in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances, many of which are detailed herein. Such statements are subject to a number of assumptions, risks, uncertainties, many of which are beyond SSGA s control. Please note that any such statements are not guarantees of any future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The views expressed in this material are the views of Ron O'Hanley through the period ended June 10, 2016 and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. State Street Global Advisors 2017 One Lincoln Street Boston, MA Tracking Code: DC-3938 Expiration Date: 6/30/2018
Retirement Plan Coverage: How to Close the Gap
Retirement Plan Coverage: How to Close the Gap WISER Symposium, Melissa Kahn, Esq., Managing Director SSGA September 19, 2017 This material is solely for the private use of WISER Symposium attendees and
More informationEBRI Retirement Security Projection Model (RSPM) Analyzing Policy and Design Proposals
May 31, 2018 No. 451 EBRI Retirement Security Projection Model (RSPM) Analyzing Policy and Design Proposals By Jack VanDerhei, Ph.D., Employee Benefit Research Institute A T A G L A N C E At various times,
More informationHow Retirement Readiness Varies by Gender and Family Status: A Retirement Savings Shortfall Assessment of Gen Xers
January 17, 2019 No. 471 How Retirement Readiness Varies by Gender and Family Status: A Retirement Savings Shortfall Assessment of Gen Xers By Jack VanDerhei, Ph.D., Employee Benefit Research Institute
More informationSPECIAL CONSIDERATIONS WOMEN FACE IN RETIREMENT SECURITY
SPECIAL CONSIDERATIONS WOMEN FACE IN RETIREMENT SECURITY 2019 EBRIEFING SERIES FEBRUARY 6, 2019 SPECIAL CONSIDERATIONS WOMEN FACE IN RETIREMENT SECURITY Jack VanDerhei Research Director, EBRI The Cost
More informationHow long will Baby Boomers and Gen Xers need to work for a 50, 70, and 80 percent probability of adequate retirement income?
How long will Baby Boomers and Gen Xers need to work for a 50, 70, and 80 percent probability of adequate retirement income? Jack VanDerhei and Craig Copeland, EBRI Is There a Future for Retirement? EBRI-ERF
More informationERISA Advisory Council U.S. Department of Labor
T-180 ERISA Advisory Council U.S. Department of Labor Hearing on: LIFETIME PARTICIPATION IN PLANS June 17, 2014 C5320 Room 6 at the U.S. Department of Labor Statement for the Record by Jack VanDerhei,
More informationEBRI Retirement Security Projection Model. ICI Retirement Summit: A Close Look at Retirement Preparedness in America
EBRI Retirement Security Projection Model ICI Retirement Summit: A Close Look at Retirement Preparedness in America Jack VanDerhei Research Director, EBRI April 4, 2014 Background of RSPM RSPM grew out
More informationA Post Crisis Assessment of Retirement Income Adequacy for Baby Boomers and Gen Xers
February 2011 No. 354 A Post Crisis Assessment of Retirement Income Adequacy for Baby Boomers and Gen Xers By Jack VanDerhei, Employee Benefit Research Institute E X E C U T I V E S U M M A R Y DETERMINING
More informationUnited States Senate Committee on Banking, Housing & Urban Affairs SUBCOMMITTEE ON ECONOMIC POLICY
T-177 United States Senate Committee on Banking, Housing & Urban Affairs SUBCOMMITTEE ON ECONOMIC POLICY Hearing on: THE STATE OF U.S. RETIREMENT SECURITY: CAN THE MIDDLE CLASS AFFORD TO RETIRE? Wednesday,
More informationA T A G L A N C E. Short Falls: Who s Most Likely to Come up Short in Retirement, and When? by Jack VanDerhei, Ph.D., EBRI
June 2014 Vol. 35, No. 6 Short Falls: Who s Most Likely to Come up Short in Retirement, and When? p. 2 Consumer Engagement Among HSA and HRA Enrollees: Findings from the 2013 EBRI/Greenwald & Associates
More informationRetirement Savings 2.0: Updating Savings Policy for the Modern Economy
T-181 United States Senate Committee on Finance Hearing on: Retirement Savings 2.0: Updating Savings Policy for the Modern Economy Tuesday, September 16, 2014, 10:00 AM 215 Dirksen Senate Office Building
More informationStatement for the Record
T-175 United States Senate Committee on Finance Subcommittee on Social Security, Pensions, and Family Policy Hearing on: The Role of Social Security, Defined Benefits, and Private Retirement Accounts in
More informationUnited States Senate Committee on Finance Subcommittee on Social Security, Pensions, and Family Policy
T-176 United States Senate Committee on Finance Subcommittee on Social Security, Pensions, and Family Policy Hearing on: Retirement Savings for Low-Income Workers Wednesday, February 26, 2014, 10:00 AM
More informationRetirement Plans and Prospects for Retirement Income Adequacy
Retirement Plans and Prospects for Retirement Income Adequacy 2014 Pension Research Council Symposium: Reimagining Pensions: The Next 40 Years May 1, 2014 Jack VanDerhei Employee Benefit Research Institute
More informationBy Jack VanDerhei, Ph.D., Employee Benefit Research Institute
June 2013 No. 387 Reality Checks: A Comparative Analysis of Future Benefits from Private-Sector, Voluntary-Enrollment 401(k) Plans vs. Stylized, Final-Average-Pay Defined Benefit and Cash Balance Plans
More informationA T A G L A N C E. In the case of females, only 5 of the 16 combinations have break-even rates under 1.5 percent.
February 7, 2019 No. 473 How Much Would It Take? Achieving Retirement Income Equivalency Between Final-Average-Pay Defined Benefit Plan Accruals and Automatic Enrollment 401(k) Plans in the Private Sector
More informationRetirement Plans and Prospects for Retirement Income Adequacy
Retirement Plans and Prospects for Retirement Income Adequacy Jack VanDerhei September 2014 PRC WP2014-06 Pension Research Council The Wharton School, University of Pennsylvania 3620 Locust Walk, 3000
More informationUse of Health Care Services and Access Issues by Type of Health Plan: Findings from the EBRI/MGA Consumer Engagement in Health Care Survey, p.
June 2012 Vol. 33, No. 6 Use of Health Care Services and Access Issues by Type of Health Plan: Findings from the EBRI/MGA Consumer Engagement in Health Care Survey, p. 2 Retirement Readiness Ratings and
More informationReady or Not... The Impact of Retirement-Plan Design
Ready or Not... The Impact of Retirement-Plan Design Some 10,000 baby boomers a day are heading into retirement. Will they have enough income to finance retirements that, for some, may last as long as
More informationSavings Needed for Health Expenses for People Eligible for Medicare: Some Rare Good News, p. 2 IRA Asset Allocation, 2010, p. 8
October 2012 Vol. 33, No. 10 Savings Needed for Health Expenses for People Eligible for Medicare: Some Rare Good News, p. 2 IRA Asset Allocation, 2010, p. 8 A T A G L A N C E Savings Needed for Health
More informationThe EBRI Retirement Readiness Rating: Retirement Income Preparation and Future Prospects
July 2010 No. 344 The EBRI Retirement Readiness Rating: Retirement Income Preparation and Future Prospects By Jack VanDerhei and Craig Copeland, Employee Benefit Research Institute E X E C U T I V E S
More informationThe Impact of Auto- enrollment and Automatic Contribution Escalation on Retirement Income Adequacy
The Impact of Auto- enrollment and Automatic Contribution Escalation on Retirement Income Adequacy By Jack VanDerhei, Employee Benefit Research Institute, and Lori Lucas, Callan Associates New Simulation
More informationWRITTEN TESTIMONY SUBMITTED BY LORI LUCAS EXECUTIVE VICE PRESIDENT CALLAN ASSOCIATES
WRITTEN TESTIMONY SUBMITTED BY LORI LUCAS EXECUTIVE VICE PRESIDENT CALLAN ASSOCIATES ON BEHALF OF THE DEFINED CONTRIBUTION INSTITUTIONAL INVESTMENT ASSOCIATION (DCIIA) FOR THE U.S. SENATE COMMITTEE ON
More informationGetting Beyond Ordinary MANAGING PLAN COSTS IN AUTOMATIC PROGRAMS
PRICE PERSPECTIVE June 2015 In-depth analysis and insights to inform your decision-making. Getting Beyond Ordinary MANAGING PLAN COSTS IN AUTOMATIC PROGRAMS EXECUTIVE SUMMARY Plan sponsors today are faced
More informationInvesting for Retirement in a Low Returns Environment
Investing for Retirement in a Low Returns Environment Catherine Reilly, CFA Alistair J. Byrne, CFA, PhD, IIMR May 4, 2017 This material is solely for the private use of Pensions Research Council Conference
More informationSenate Committee on Banking, Housing & Urban Affairs
T-171 Senate Committee on Banking, Housing & Urban Affairs SUBCOMMITTEE ON ECONOMIC POLICY Hearing on: Retirement (In)security: Examining the Retirement Savings Deficit March 28, 2010 538 Dirksen Senate
More informationSenate Committee on Health, Education, Labor and Pensions. The Power of Pensions: Building a Strong. Middle Class and Strong Economy
T-169 Senate Committee on Health, Education, Labor and Pensions Hearing on: The Power of Pensions: Building a Strong Middle Class and Strong Economy Tuesday, July 12, 2011 SD-430 Dirksen Senate Office
More informationSelf-Insured Health Plans: State Variation and Recent Trends by Firm Size, p. 2 All or Nothing? An Expanded Perspective on Retirement Readiness, p.
November 2012 Vol. 33, No. 11 Self-Insured Health Plans: State Variation and Recent Trends by Firm Size, p. 2 All or Nothing? An Expanded Perspective on Retirement Readiness, p. 11 A T A G L A N C E Self-Insured
More informationA T A G L A N C E. June 2013 Vol. 34, No. 6
June 2013 Vol. 34, No. 6 What a Sustained Low-yield Rate Environment Means for Retirement Income Adequacy: Results From the 2013 EBRI Retirement Security Projection Model, p. 2 Use of Health Care Services
More informationOther Sources of Financial Security
Other Sources of Financial Security Retirement Adequacy and the Outlook for Employer Sponsored Retirement Plans Financial Security Research Symposium Jack VanDerhei EBRI Research Director vanderhei@ebri.org
More informationDeferred Income Annuity Purchases: Optimal Levels for Retirement Income Adequacy
January 3, 2019 No. 469 Deferred Income Annuity Purchases: Optimal Levels for Retirement Income Adequacy By Jack VanDerhei, Ph.D., Employee Benefit Research Institute A T A G L A N C E The prospect of
More informationOUP CORRECTED PROOF FINAL,
OUP CORRECTED PROOF FINAL, 11/12/2015, SPi Reimagining Pensions The Next 40 Years EDITED BY Olivia S. Mitchell and Richard C. Shea 1 OUP CORRECTED PROOF FINAL, 11/12/2015, SPi 3 Great Clarendon Street,
More informationSenate Committee on Finance
T-167 Senate Committee on Finance Hearing on: How Do Complexity, Uncertainty and Other Factors Impact Responses to Tax Incentives? Wednesday, March 30, 2011 10:00 a.m. 215 Dirksen Senate Office Building
More informationGetting Beyond Ordinary MANAGING PLAN COSTS IN AUTOMATIC PROGRAMS
PRICE PERSPECTIVE In-depth analysis and insights to inform your decision-making. Getting Beyond Ordinary MANAGING PLAN COSTS IN AUTOMATIC PROGRAMS EXECUTIVE SUMMARY Plan sponsors today are faced with unprecedented
More informationHOW DOES 401(K) AUTO-ENROLLMENT RELATE TO THE EMPLOYER MATCH AND TOTAL COMPENSATION?
October 2013, Number 13-14 RETIREMENT RESEARCH HOW DOES 401(K) AUTO-ENROLLMENT RELATE TO THE EMPLOYER MATCH AND TOTAL COMPENSATION? By Barbara A. Butrica and Nadia S. Karamcheva* Introduction Many workers
More informationDriving Better Outcomes with the TIAA Plan Outcome Assessment
Driving Better Outcomes with the TIAA Plan Outcome Assessment A guide to measuring employee retirement readiness and optimizing plan effectiveness For institutional investor use only. Not for use with
More informationRetirement Annuity and Employment-Based Pension Income, Among Individuals Aged 50 and Over: 2006
Retirement Annuity and Employment-Based Pension Income, Among Individuals d 50 and Over: 2006 by Ken McDonnell, EBRI Introduction This article looks at one slice of the income pie of the older population:
More informationThe Impact of Repealing PPACA on Savings Needed for Health Expenses for Persons Eligible for Medicare, p. 2
August 2011 Vol. 32, No. 8 The Impact of Repealing PPACA on Savings Needed for Health Expenses for Persons Eligible for Medicare, p. 2 The Importance of Defined Benefit Plans for Retirement Income Adequacy,
More informationPlan Sponsor Report. Page 1 of 14
2017 Plan Sponsor Report Page 1 of 14 This page was intentionally left blank Page 2 of 14 The Retirement Readiness Landscape at Sample Plan Sponsor We are pleased to provide our annual Retirement Readiness
More informationBETTER TOGETHER. Introducing the SPDR SSGA Gender Diversity Index ETF (SHE)
BETTER TOGETHER Introducing the SPDR SSGA Gender Diversity Index ETF (SHE) TALK ABOUT IMPACT Over the past generation, women entering the workforce have had a powerful, positive effect on the American
More informationMillennial, Gen X, and Baby Boomer Workers and Retirees RETIREMENT SAVING & SPENDING STUDY
Millennial, Gen X, and Baby Boomer Workers and Retirees RETIREMENT SAVING & SPENDING STUDY Table of Contents Methodology Workers with 401(k)s: Millennials, Gen X, and Baby boomers Workers 401(k) Accounts
More informationWritten. Before the. Regarding. September 2009
Written Statementt of Larry H. Goldbrum, Esq. General Counsel, The SPARK Institute Before the UNITED STATES DEPARTMENT OF LABOR ERISA ADVISORY COUNCIL Regarding Retirement Security September 2009 The SPARK
More informationBoosting 401(k) Retirement Readiness
Boosting 401(k) Retirement Readiness With retirement savings taking a back seat to more immediate financial concerns, and the percentage of workers confident that they ll have enough money for a comfortable
More informationOpting out of Retirement Plan Default Settings
WORKING PAPER Opting out of Retirement Plan Default Settings Jeremy Burke, Angela A. Hung, and Jill E. Luoto RAND Labor & Population WR-1162 January 2017 This paper series made possible by the NIA funded
More informationRetirement Readiness: Maximizing your retirement savings program
Retirement Readiness: Maximizing your retirement savings program Today s agenda The Retirement Readiness issue The search for solutions, Your Automated Retirement Builder 2 Presenters Ted Goldman North
More informationPERSPECTIVES ON RETIREMENT
PERSPECTIVES ON RETIREMENT The Power of Plan Wellness Financial wellness is top of mind for many defined contribution plan sponsors who recognize that having participants who are financially secure benefits
More informationCASE STUDY: Taking the Next Step in Customization
CASE STUDY: Taking the Next Step in Customization Josh Cohen, CFA, Head of Defined Contribution Jeff Eng, CFA, Director Retirement Income Ken Ingham, President & CEO, Ingham Retirement Group Important
More informationThe 2007 Retiree Survey
The Ariel-Schwab Black Investor Survey: The 00 Retiree Survey October 11, 00 BACKGROUND, OBJECTIVES, AND METHODOLOGY Ariel Mutual Funds and The Charles Schwab Corporation commissioned Argosy Research to
More informationUSING AUTO-ENROLL TO IMPROVE PARTICIPANT OUTCOMES
National Association of Government Defined Contribution Administrators, Inc. USING AUTO-ENROLL TO IMPROVE PARTICIPANT OUTCOMES For decades governmental defined contribution plans were viewed as a supplemental
More informationWho makes the most of matching contributions? An analysis of member choices in DC pension plans
Who makes the most of matching contributions? An analysis of member choices in DC pension plans Introduction About the research We analysed the contribution decisions of almost 80,000 employees, working
More informationThe power of plan wellness
The power of plan wellness RETIREMENT PERSPECTIVES How can individuals be expected to achieve financial wellness if the primary retirement savings vehicle, the defined contribution plan, is either poorly
More informationGENDER AND MARITAL STATUS COMPARISONS AMONG WORKERS
2017 RCS FACT SHEET #5 GENDER AND MARITAL STATUS COMPARISONS AMONG WORKERS Are unmarried men and women equally likely to plan and save for retirement? Do they have similar expectations about their needs
More informationRetirement Age Expectations of Older Americans Between 2006 and 2010, p. 2
December 2011 Vol. 32, No. 12 Retirement Age Expectations of Older Americans Between 2006 and 2010, p. 2 Variation in Public Opinion on the Future of Employment- Based Health Benefits: Findings From the
More informationPPI. Tax relief for pension saving in the UK. Chris Curry, PPI Director. Pensions Policy Institute 15 July 2013
Tax relief for pension saving in the UK Chris Curry, Director Pensions Policy Institute 15 July 2013 www.pensionspolicyinstitute.org.uk We d like to thank our sponsors... The is grateful for the support
More informationSavings Medicare Beneficiaries Need for Health Expenses: Some Couples Could Need as Much as $400,000, Up From $370,000 in 2017
September 2010 No. 346 October 8, 2018 No. 460 Savings Medicare Beneficiaries Need for Health Expenses: Some Couples Could Need as Much as $400,000, Up From $370,000 in 2017 By Paul Fronstin, Ph.D., and
More informationSavings Medicare Beneficiaries Need for Health Expenses: Some Couples Could Need as Much as $370,000, Up from $350,000 in 2016
Dec. 20, 2017 Vol. 38, No. 10 Savings Medicare Beneficiaries Need for Health Expenses: Some Couples Could Need as Much as $370,000, Up from $350,000 in 2016 by Paul Fronstin, Ph.D., and Jack VanDerhei,
More informationVISION A Framework to Help You Build a Stronger Plan FOR INCOME
VISION 2020 A Framework to Help You Build a Stronger Plan FOR INCOME Why plan design is critical When building a house, having a framework to guide you is crucial to success. It s not that different from
More informationDefined Contribution Plan Participants Activities, 2017
ICI RESEARCH REPORT Defined Contribution Plan Participants Activities, 2017 MAY 2018 The Investment Company Institute (ICI) is the leading association representing regulated funds globally, including mutual
More informationBest Ways to Engage Employees in Their Retirement Plan. Emily Talley, CEBS Benefits Manager Tanner Health System
Best Ways to Engage Employees in Their Retirement Plan Emily Talley, CEBS Benefits Manager Tanner Health System The Starting Line Tanner Health System in 2002 Regional healthcare system 1,600 employees
More informationThis study is brought to you courtesy of.
This study is brought to you courtesy of www.google.com/think/insights The Inside Look into the Financially- Minded, Digitally-Connected Baby Boomer Google/Nielsen Online/Sterling U.S., September 2010
More informationAre Your Employees Ready for Retirement?
Are Your Employees Ready for Retirement? March 2019 Prepared by Aon Presentation to Financial Executives International Aon s Innovative Thought Leadership 2018 Retirement Income Adequacy Study Measures
More informationState-Facilitated Retirement Savings Programs: A Snapshot of Design Features
State-Facilitated Retirement Savings Programs: A Snapshot of Design Features State Brief 18-03 August 15, 2018 UPDATE 1 1This updates State Brief 18-03, dated May 31, 2018. property of the CRI. This document
More informationDO INDIVIDUALS KNOW WHEN THEY SHOULD BE SAVING FOR A SPOUSE?
March 2019, Number 19-5 RETIREMENT RESEARCH DO INDIVIDUALS KNOW WHEN THEY SHOULD BE SAVING FOR A SPOUSE? By Geoffrey T. Sanzenbacher and Wenliang Hou* Introduction Households save for retirement to help
More informationDefined Contribution Plan Participants Activities, First Half 2013
ICI RESEARCH REPORT Defined Contribution Plan Participants Activities, First Half 2013 November 2013 The Investment Company Institute (ICI) is the national association of U.S. investment companies. ICI
More informationFunding Savings Needed for Health Expenses For Persons Eligible for Medicare
December 2010 No. 351 Funding Savings Needed for Health Expenses For Persons Eligible for Medicare By Paul Fronstin, Dallas Salisbury, and Jack VanDerhei, Employee Benefit Research Institute E X E C U
More informationAutomatic enrollment: The power of the default
Automatic enrollment: The power of the default Vanguard Research February 2018 Jeffrey W. Clark, Jean A. Young The default decisions made by defined contribution (DC) plan sponsors under automatic enrollment
More informationU.S. Household Savings for Retirement in 2010
U.S. Household Savings for Retirement in 2010 John J. Topoleski Analyst in Income Security April 30, 2013 CRS Report for Congress Prepared for Members and Committees of Congress Congressional Research
More informationIMPLEMENTATION OF HEALTH CARE REFORM
IMPLEMENTATION OF HEALTH CARE REFORM By Randall B. Weill, Esq. Since it became effective on September 23, 2010, implementation of the Patient Protection and Affordable Care Act of 2010 (Public Law 111-148),
More informationEmployee Tenure Trends, , p. 2
Sept. 20, 2017 Vol. 38, No. 9 Employee Tenure Trends, 1983 2016, p. 2 A T A G L A N C E This study examines employee-tenure data of American workers. It uses U.S. Census Bureau data from the Current Population
More informationOVER THE PAST TWO DECADES THERE HAS BEEN
RUNNING 401(k): KEEPING PACE FROM ACCUMULATION TO DISTRIBUTION* Sarah Holden and Michael Bogdan, Investment Company Institute INTRODUCTION OVER THE PAST TWO DECADES THERE HAS BEEN a shift in private-sector
More informationIs Debt Good or Bad for a Comfortable Retirement? Exploring the Relationship between Consumer Debt and Retirement Preparedness
Is Debt Good or Bad for a Comfortable Retirement? Exploring the Relationship between Consumer Debt and Retirement Preparedness Laith Alattar, Social Security Administration 1 Jeremy Elder, Bureau of Economic
More informationAdaptive Retirement Accounts
Adaptive Retirement Accounts Frequently asked questions Overview of Adaptive Retirement Accounts... 3 1. What are Adaptive Retirement Accounts?... 3 2. Why should I consider Investing in an Adaptive Retirement
More informationDefined Contribution Plan Participants Activities, First Three Quarters of 2017
ICI RESEARCH REPORT Defined Contribution Plan Participants Activities, First Three Quarters of 2017 FEBRUARY 2018 The Investment Company Institute (ICI) is the leading association representing regulated
More informationDefined Contribution Plan Participants Activities, First Quarter 2018
ICI RESEARCH REPORT Defined Contribution Plan Participants Activities, First Quarter 2018 AUGUST 2018 The Investment Company Institute (ICI) is the leading association representing regulated funds globally,
More informationPublic-Private Partnerships: A Way Forward in Improving Retirement Security. Hank Kim
VOL. 27, NO. 4 WINTER 2014 BENEFITS LAW JOURNAL Public-Private Partnerships: A Way Forward in Improving Retirement Security Hank Kim The United States is facing a retirement security gap which, unless
More informationUsing the FRS to Plan for Your Retirement
Using the FRS to Plan for Your Retirement 42% of American Workers are NOT currently Saving for Retirement Even if saving, only 44% of individuals have calculated how much they need for a comfortable retirement.
More informationAn Evaluation of the Adequacy and Structure of Current U.S. Voluntary Retirement Plans, With Special Emphasis on 401(k) Plans
T-162 An Evaluation of the Adequacy and Structure of Current U.S. Voluntary Retirement Plans, With Special Emphasis on 401(k) Plans For presentation at: Approaches for Retirement Security in the U.S. U.S.
More informationHoward County & Howard County Schools 457(b) Deemed IRA Participation Agreement
Howard County & Howard County Schools 457(b) Deemed IRA Participation Agreement For Deferred Compensation Plan DC-4803 (12/2016) For help, please call 877-677-3678 howard457.com 1 2 DC-4803 (12/2016) For
More informationResearch Report. The Population of Workers Covered by the Auto IRA: Trends and Characteristics. AARP Public Policy Institute.
AARP Public Policy Institute C E L E B R A T I N G years The Population of Workers Covered by the Auto IRA: Trends and Characteristics Benjamin H. Harris 1 Ilana Fischer The Brookings Institution 1 Harris
More informationThe U.S. Retirement System
The U.S. Retirement System Women s Institute for a Secure Retirement (WISER) Annual Women s Retirement Symposium Overcoming Retirement Hurdles: The Financial Realities for Women December 6 & 7, 2012 Washington,
More informationDebt of the Elderly and Near Elderly,
March 5, 2018 No. 443 Debt of the Elderly and Near Elderly, 1992 2016 By Craig Copeland, Ph.D., Employee Benefit Research Institute A T A G L A N C E Much of the attention to retirement preparedness focuses
More informationBe out living your life, not outliving your savings.
Talk to your financial advisor to learn more about how an annuity can benefit your retirement plan. Discover the value of an annuity. Be out living your life, not outliving your savings. Discover the value
More informationRetirement. Mr. Sample and Mrs. Anna 401k Participant. Prepared for: November 19, (Main Scenario)
Prepared for: Mr Sample and Mrs Anna 401k (Main Scenario) November 19, 2008 Mr Sample and Mrs Anna 401k Retirement Table of Contents Title Page 1 Table of Contents 2 Spending Goal 3 Current Funding 4 Additional
More informationCity of Albany Police and Fire Relief or Pension Fund
City of Albany Police and Fire Relief or Pension Fund Actuarial Valuation and Information Required Under Governmental Accounting Standards Board Statements No. 67 and 68 as of June 30, 2015 2014 Xerox
More informationLump Sum vs. Monthly
Lump Sum vs. Monthly The Right Decision For Me February 2017 Securities offered through Centaurus Financial Inc., a registered broker/dealer. Member FINRA and SIPC Centaurus Financial, Inc., and Herbert
More informationAmericans Can t Get Ahead and
Retirement on the Rocks: Why Americans Can t Get Ahead and How New Savings Policies Can Help Christian Weller, University of Massachusetts Boston and Center for American Progress Coming in December: Retirement
More informationHere Come the Millennials
Here Come the Millennials A Behavioral Finance Discussion Omar Aguilar, Ph.D. Chief Investment Officer, Equities June 27, 2016 Agenda Millennials Demographics Preferences Investment Decision-Making 2 Demographics
More informationThe Real Deal Research
The Real Deal Research 2018 Retirement Income Adequacy at U.S. Plan Sponsors October 2018 Table of Contents Overview...2 Retirement Needs...6 Retirement Resources...13 Defining Retirement Income Adequacy...23
More informationIRA SPENDDOWN. Craig Copeland, EBRI EBRI Policy Forum December 13, 2018
IRA SPENDDOWN Craig Copeland, EBRI EBRI Policy Forum December 13, 2018 EBRI IRA DATABASE Annual data from 2010-2016 Cross sectional and longitudinal data (accounts are linked across years for those that
More informationA Look at the End-of-Life Financial Situation in America, p. 2
April 2015 Vol. 36, No. 4 A Look at the End-of-Life Financial Situation in America, p. 2 A T A G L A N C E A Look at the End-of-Life Financial Situation in America, by Sudipto Banerjee, Ph.D., EBRI This
More informationHOW DOES WOMEN WORKING AFFECT SOCIAL SECURITY REPLACEMENT RATES?
June 2013, Number 13-10 RETIREMENT RESEARCH HOW DOES WOMEN WORKING AFFECT SOCIAL SECURITY REPLACEMENT RATES? By April Yanyuan Wu, Nadia S. Karamcheva, Alicia H. Munnell, and Patrick Purcell* Introduction
More informationDRIVE CHANGE. SPDR SSGA Gender Diversity Index ETF (SHE)
DRIVE CHANGE SPDR SSGA Gender Diversity Index ETF (SHE) March 2018 Drive Change THE TIME IS NOW Despite women s increased participation in the business world 1 and the new focus on building inclusive workplaces,
More informationRetirement Solutions. Engaging the Next Generations in Retirement Savings
www.calamos.com Retirement Solutions Engaging the Next Generations in Retirement Savings Improving Retirement Readiness for the Next Generations by Applying Behavioral Finance & Thoughtful Plan Design
More informationWork and Save. Almost Half of Baby Boomers & Gen Xers At Risk. % at risk
Work & Save % at risk Work and Save Almost Half of Baby Boomers & Gen Xers At Risk 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Early Boomers Late Boomers Gen Xers EBRI 2003 RRR 51.7% 48.5% 51.7% EBRI 2012
More informationRetirement Readiness. A Comparative Analysis of Australia, the United Kingdom & the United States. October 2017
Retirement Readiness A Comparative Analysis of Australia, the United Kingdom & the United States October 2017 RETIREMENT READINESS: A Comparative Analysis 1 Retirement Readiness A Comparative Analysis
More informationPPI Briefing Note Number 101 Page 1. borrowing and the risk of problem debt.
Briefing Note Number 101 Page 1 Introduction Automatic enrolment (AE) into pension schemes was launched in 2012 to capitalise on people s inertia and so increase saving in private pension schemes. Unless
More informationAging Seminar Series:
Aging Seminar Series: Income and Wealth of Older Americans Domestic Social Policy Division Congressional Research Service November 19, 2008 Introduction Aging Seminar Series Focus on important issues regarding
More informationWomen in the Egyptian Labor Market An Analysis of Developments from 1988 to 2006
Women in the Egyptian Labor Market An Analysis of Developments from 1988 to 2006 1 B Y R A G U I A S S A A D P O P U L A T I O N C O U N C I L A N D F A T M A E L - H A M I D I U N I V E R S I T Y O F
More informationBridging the gap between 401(k) sponsors and participants. Turning differing views about retirement planning into shared solutions
Bridging the gap between 401(k) sponsors and participants Turning differing views about retirement planning into shared solutions For 30 years, 401(k) plan sponsors have been working hard to help employees
More informationOECD/ IOPS Global Forum On Private Pensions. Reforming Private DB Plans. Istanbul, Nov 2006 Brigitte Miksa, Head of AGI International Pensions
OECD/ IOPS Global Forum On Private Pensions Reforming Private DB Plans Istanbul, Nov 2006 Brigitte Miksa, Head of AGI International Pensions Private pensions of key importance in pension reforms Copyright
More information