Retirement Trends

Consumers say they had significantly less money this past year due to inflation and are taking a less optimistic, more pragmatic view of their finances – save more money, pay down debt and spend less money, says a new study.

An emergency savings policy – which would automatically enroll employees into savings programs – would align with the goals of the U.S. retirement system, wrote employers in a letter sent to House and Senate leaders.

The Retirement Savings for Americans Act would establish a new program that gives workers access to portable, tax-advantaged retirement savings accounts with federal matching contributions for low- and middle-income workers.

It's time to do a top-to-bottom review, taking a holistic approach that enables employers and advisors to check the overall health of the plan and gauge how prepared it is to deal with changes.

Of those plan sponsors who reported full employee participation, 80% had a plan financial advisor, according to a Morgan Stanley, who just enhanced its design.

This largest-ever rescue covers 350,000 workers and retirees of the Central States Pension Fund, one of the largest multi-employer pension plans in the nation that was projected to become insolvent in 2026 prior to the pandemic.