- America’s Retirement Preparedness Level Declines Amid Continued Volatility
Millennials experienced greatest decline in preparedness among generations since study last conducted in 2020, despite highest increase in income
Fidelity Investments® today released its latest Retirement Savings Assessment, revealing a decline in retirement readiness as American savers continue to navigate market volatility and disruption.
read more - Wellbeing & Your Wallet
49% of consumers optimistic about their financial futures
Affinity Federal Credit Union (“Affinity”) released findings from the debut installment of its Wellbeing and Your Wallet Index. The Index captures consumer sentiment around their overall financial wellbeing, a cornerstone of the culture within Affinity’s community, and analyzes results from a 42-question survey completed by 3,001 individuals in New Jersey, New York, Connecticut and Pennsylvania.
read more - Retirement Disruptors To Watch By 2030
Survey of plan sponsors, financial professionals reveals predictions, challenges, and opportunities for the future of retirement
A new survey from Principal Financial Group® identifies the leading disruptors to the retirement industry that employers and financial professionals believe will reshape plans, services, and solutions by 2030.
read more - Closing The Gender Gap In Retirement Savings
Women significantly lag behind men in retirement savings
T. Rowe Price, a global investment management firm and a leader in retirement, today published the latest findings of its annual Retirement Savings and Spending study, which found women lag far behind men in terms of retirement contributions, savings, and confidence.
read more - Guide To Retirement
Examining the impacts of the SECURE 2.0 Act, importance of staying invested through volatility, and need to align your portfolio to long-term financial goals
J.P. Morgan Asset Management today released the 11th edition of its annual Guide to Retirement, analyzing the most significant issues impacting retirement to help advisors and their clients, and DC plan participants make informed planning decisions and take positive actions to achieve a comfortable retirement.
read more - American Women Significantly Less Confident In Retiring Compared To Men
An overwhelming majority of women (79 percent) desire greater access to financial literacy resources with 74 percent reporting they do not have a financial plan in place compared to 58 percent of men
A special report from the BMO Real Financial Progress Index focusing on women and financial confidence found a stark contrast regarding how women and men feel about one of life's top financial goals: retirement.
read more - Defined Contribution Plan Trends And Fee Survey
Defined contribution plans challenged by booming retirement income market, TDF scrutiny
NEPC, LLC, one of the country’s largest research-driven investment consultants and OCIO providers, today published the 17th annual edition of its Defined Contribution (DC) Plan Trends and Fee Survey, which examines current plan investment trends, features, and innovations across major sectors, and how these plans have evolved over the years
read more - Cities Where Inflation Is Rising The Most
In the U.S. and around the world, inflation is high and getting higher
Americans are still dealing with sky-high inflation, which hit a 40-year high last year. Though inflation has started to slow slightly due to factors like the Federal Reserve rate hikes, the year-over-year inflation rate was still a whopping 6.0% in February.
read more - Silicon Valley Bank Collapse Highlights Critical Lessons For The Insurance Industry
U.S. insurers have relatively minimal exposures to SVB bonds
The failure of Silicon Valley Bank, along with the recent shutdown of Silvergate Bank by regulators, has impacted several banks. The ramifications for insurers’ equity portfolios could be more significant than for bondholdings, as some major bank stocks have already lost significant value.
read more - Record Annuity Sales In 2022 Expected To Continue Into First Quarter 2023
Total annuity sales in 2022 top $312 billion, an all-time high
Facing unprecedented long-term market volatility in 2022, consumers sought the protection offered by fixed annuities, propelling a record-high $312.8 billion in total U.S. annuity sales. According to LIMRA’s 2022 Individual Annuity Sales Survey, total 2022 annuity sales increased 23% over 2021 results and were 18% higher than the previous record of $265 billion set in…
read more - 2023 Retirement Income Pulse Check
Post-SECURE 1.0, majority of retirement plan consultants have taken action on guaranteed retirement income options
Following the passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act in December 2019, the majority of defined contribution (DC) retirement plan consultants, 82%, report that they have gotten more comfortable recommending retirement income options to their clients, according to MetLife’s 2023 Retirement Income Pulse Check study. What’s more, an overwhelming majority…
read more - U.S. Life/Annuity Insurers Flex Muscles In 2022, Remain Well-Positioned For 2023 Challenges
The life/annuity segment emerged from the pandemic with solid balance sheets, capitalization, and liquidity, but faces new challenges
Despite equity market volatility, inflationary pressure and rapid interest rate hikes, U.S. life insurance and annuity writers posted a 17% increase in net income to $31.7 billion through third-quarter 2022, as compared with the same prior year period, driven mainly by a 7% rise in premium and annuity considerations, according to a new AM Best…
read more - Women Continue To Feel The Pay Gap Impact, But Report Improved Financial Security
Over one-third of women report feeling financially secure, concern over retirement savings remains top
of mind in 2023
Amidst the ongoing reinvention of the workplace and work culture in the U.S., women continue to face significant financial barriers and career hurdles.
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