- Americans Facing A New Retirement Reality
Inflation, market volatility and recurring financial crises are making planning for retirement even more challenging. Are Americans heading for a future retirement catastrophe?
The dynamics of retirement planning have dramatically shifted as Americans navigate inflation, market volatility, financial crises, fears of bank failures and other challenges. Taken together, these factors have created a new retirement reality that may have fundamentally shifted the long-term outlook for many Americans, according to the latest study from Allianz Life Insurance Company of…
read more - U.S. Voluntary/Worksite Sales Report
Supplemental health sales outpace life and disability with double-digit growth
Supplemental health sales outpace life and disability with double-digit growth A new Eastbridge report shows strong growth in supplemental health products. AVON, Conn., May 31, 2023 /PRNewswire/ — Supplemental health products such as accident, critical illness, cancer and hospital indemnity insurance are driving continued growth in the voluntary benefits industry, according to Eastbridge Consulting Group’s…
read more - Employers View Well-Being As Key Part Of Workforce Strategy, Despite Economic Pressures
90% will maintain same level of investment in well-being
Employers of all sizes view well-being as a key part of their workforce strategy, more so now than in the past, according to the 14th Annual Employer-Sponsored Health & Well-Being Survey, fielded by Fidelity Investments and Business Group on Health.
read more - Retirees Provide Valuable Lessons To Future Generations
Resilience, redefining success and thriving in retirement
Edward Jones Canada, in partnership with Age Wave, a thought leader on population aging, has released its third study on retirement that builds on previous findings further exploring how Canadians can improve retirement across the four pillars: health, family, purpose, and finances.
read more - Retirement Savers Are Keeping Their Eyes On The Future
Economic climate has retirement savers eyeing guaranteed lifetime income and financial planning options
New research shows retirement savers are eyeing guaranteed lifetime income products and financial planning options as key financial supports in the current economic environment.
read more - New U.S. Pension Risk Transfer Sales Posts Double-Digit Growth In First Quarter 2023
New market entrants coupled with increased plan sponsor interest drive record results
Total U.S. single premium pension risk transfer sales were $6.3 billion, up 19% from first quarter 2022 results. These are the highest first-quarter sales ever recorded, according to LIMRA’s U.S. Group Annuity Risk Transfer Sales Survey.
read more - Competitive Pension Risk Transfer Costs In April Hit Seven-Month Low
Competitive bidding process saves about 3.7% of buyout costs as of April 30
Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its Milliman Pension Buyout Index (MPBI). As the pension risk transfer (PRT) market continues to grow, it has become increasingly important to monitor the annuity market for plan sponsors that are considering transferring retiree pension obligations to an insurer.
read more - Individual Annuity Premiums Soar To Stratospheric Heights In Q1 2023
Rising interest rates and market tumult created ideal conditions for fixed annuity issuance in the first quarter of 2023
Direct ordinary individual annuity premiums and considerations surged by 43.3% to $82.67 billion in the first quarter, according to data compiled as of May 19.
read more - State Of The Workplace
Equity compensation a key driver of employee retention, while helping employees meet long-term goals
The third annual State of the Workplace Study focuses on the evolving role and significance of workplace benefits as economic uncertainty unsettles both workers and their employers. With continued inflation and market volatility culminating in fears of a possible recession, employees are seeking more support even as employers search for ways to do more with…
read more - Millennial & Gen Z Personal Finance Trends
Millennials and Gen Z consumers believe current economic environment is hurting their ability to be financially independent adults
Nearly 70% of Gen Z and millennial consumers believe the current economic environment is hurting their ability to be financially independent adults and more than 1 in 4 don’t feel optimistic about their current financial situation, according to new research released today by Experian. The recent economic news and layoffs, however, have spurred 75% of…
read more - Fixed Annuity Sales Double In Q1 2023, Driving Record Sales For The Fourth Consecutive Quarter
Total annuity sales topped $94 billion, a new quarterly sales record
Total fixed annuity sales increased 101% to $70.9 billion in the first quarter 2023, compared with prior year results. Every major fixed annuity product line experienced at least double-digit growth, according to LIMRA’s First Quarter 2023 Individual Annuity Sales Survey.
read more - Trends In Labor Force Participation And Employment
U.S. labor force participation rates and employment population ratios returning to pre-pandemic levels, but certain groups of workers have reached those levels while others fall short
A new Employee Benefit Research Institute (EBRI) research report released today regarding the labor force in the United States from 2019-2022 found labor force participation rates and employment population ratios have been returning to pre-pandemic levels, but certain groups of workers have reached those levels while others are still falling short. In particular, both male…
read more - 2023’s Best & Worst States For Military Retirees
Members of the armed forces deserve a comfortable retirement in exchange for their brave sacrifices. But it’s not easy to readjust to civilian life
As military personnel retire, whether they faced active combat or not, they may find it difficult to readjust to civilian life. Many retirees face major struggles including Posttraumatic Stress Disorder, disability and homelessness, which are especially difficult to deal with during this period of economic difficulty. These veterans must also consider how state tax policies…
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