Retirement Trends

Last week, the world’s largest retailer announced that it will start to unwind its Center for Racial Equity, as other employers, including Boeing, <a href="https://www.cbsnews.com/news/lowes-dei-harley-davidson-john-deere-tractor-supply/">Ford and JPMorgan Chase, </a>have recently backed away from their DEI policies.

Employees who start saving an additional $7,500 per year until age 67, while earning a modest 7% compounded annually, can add $250,000 to their retirement nest egg, says Ambassador Wealth Management’s Phill Battin.

Adoption can be improved by integrating annuities into target-date funds, and providing clear communication and professional guidance, says PGIM’s David Blanchett.<br/>

For the first time in years, Gen X reported slightly worse financial wellness than Gen Z, but the new catch-up contribution rules for next year will give them a boost, according to a new Guardian report.

Below is a summary of provisions relevant to employers and their retirement plans that will become effective in 2025.

Target date funds with built-in retirement income payment features, as well as required minimum distributions, offer a way for retirees to receive income directly from their 401(k)s, according to a new IRIC paper.