Retirement Trends

Lawmakers included the Secure Choice Savings Program, which would require employers to automatically enroll their employees, in the state’s budget bill that both chambers passed on Monday, and is now awaiting the governor’s signature.

The number of Americans living to 100 is expected to quadruple by 2054, yet most retirement plans aren't built for longer lifespans – and this is why employers should offer lifetime income options within 401(k)s, says Nationwide.

Social Security benefits will be depleted in 2033, according to SSA’s latest trustees report, and retirees will need extra funds to make up the shortfall, unless Congress takes action, according to PensionBee.

The 4-year-old case alleged that the financial institution mismanaged its $440 million employee retirement plan with underperforming funds that had higher fees than comparative funds in the market.

While over half of annuity providers already offer a retirement in-plan solution, a majority believe that automatic plan defaults will be the most effective catalyst for broader adoption, according to a Goldman Sachs annuity survey.

On July 1, a new Nuveen and TIAA campaign explores the power of guaranteed income in retirement planning through the story of Bonilla’s legendary income deal in 2000, when he deferred payment for 10 years – an unusual move at the time – similarly to a fixed annuity.