Retirement Trends

The firm incorrectly used the reporting St. Paul, Minnesota-based U.S. Bancorp Investments, which has over 2,350 registered representatives, consented to the censure and fine without admitting or denying findings from the Financial Industry Regulatory Authority, FINRA announced Friday.for banks rather than broker-dealers, FINRA reported.

They're part of the top 50 U.S. retirement "hotspots" where the older population has grown 20% since 2018.

About 55% of retirees surveyed said their Social Security benefits don’t cover their basic needs.

“Fear mongering” has driven people to claim benefits earlier because of loss of trust in the SSA, resulting in a large number of Americans claiming benefits while still employed, according to the Schwartz Center for Economic Policy Analysis. 

The IRS must provide a safe harbor permitting all plan administrators to rely on wage information on W-2s when determining whether employees have exceeded the catch-up wage threshold of $145,000, recommends the American Institute of CPAs.

While diversification and return potential drive interest, most advisors say greater ERISA/regulatory clarity is also needed, according to Empower’s survey.