Retirement Trends

As creditors prepare to vote on a plan to end Detroits $18 billion bankruptcy, the city still needs help from state lawmakers to pay its obligations while avoiding a fire sale of its fine art collection.

Demographics are driving demand as retiring baby boomers rely on dividend checks to support their lifestyle.

New workers will have the option of choosing a 401(k) plan or a hybrid plan in which one third with will be a 401(k) and two-thirds will be a traditional pension.

The typical U.S. corporate pension plans funding status declined by 1.1 percentage points to 91 percent in April as liabilities increased faster than assets.

Sixty-four percent of respondents said they can get better financial advice than either Mom or Dad can offer.

South Dakota topped the list of best states to retire, thanks to its low taxes, lack of crime and easy access to quality healthcare.