Defined Contribution

How and when we retire is changing in the U.S. as the workplace shifts to defined contribution plans rather than traditional pensions. Looking at the challenges from an actuary's point of view can help us deal with this major shift.

Compare your small-business retirement plan to other small-business retirement plans with these 10 data points from Vanguard's "How America Saves" report.

The move follows an aggressive price cut announced in 2014, which reduced fees in the target-date series by 20 to 26 basis points.

Mercer had already put a 3 percent drop in funded status among the plans of S&P 1500 companies down to Brexit, and Millimans latest pension funding index chalked up that $46 billion drop primarily to a $54 billion increase in pension liabilities.

Almost a third of plan sponsors indicated that their retirement plans were audited by the IRS or Department of Labor, says Willis Towers Watson.

Sometimes we talk up the power of saving early and compounding so much we unintentionally discourage those nearing retirement.