Benefits

  • Average IRA Balance Grew More Than 22 Percent From 2013 Through 2017
    Average IRA Balance Grew More Than 22 Percent From 2013 Through 2017

    But data raise concerns around extreme allocations

    According to new research from EBRI, the average individual retirement account (IRA) balance increased from $93,441 in 2013 to $114,383 in 2017, an increase of 22.4 percent. The average contribution to a Traditional or Roth IRA slightly increased from $3,880 in 2013 to $3,913 in 2017. The Issue Brief, “EBRI IRA Database: IRA Balances, Contributions,…
    read more
  • What’s Considered Rich?
    What’s Considered Rich?

    One-third of Americans say money can’t buy wealth

    by Amanda Pell

    If someone asked you what “rich” means to you, what’s the first thing that would come to mind? Some would say a career that pays well, while others find joy in the simple things. From monetary possessions like a big house or flashy car to the less tangible benefits, achieving wealth means something different to…
    read more
  • Americans Left Guessing for Their Golden Years
    Americans Left Guessing for Their Golden Years

    Four out of five older Americans fail retirement literacy survey

    According to the 2020 Retirement Income Literacy Survey, four in five older Americans fail to understand the basics on how to successfully plan for a financially secure retirement, a concerning finding from one of the most comprehensive surveys on retirement income literacy. Retirees and pre-retirees (ages 50-75) displayed a lack of knowledge around awareness of…
    read more
  • Impact of Covid-19 On Life Insurance Claims Management
    Impact of Covid-19 On Life Insurance Claims Management

    The integration of analytics is a necessity

    COVID-19 outbreak has had a devastating impact on people’s lives across the world and has caused the global economy to stall, the impact of which will be felt for a long time. As of September 15, 2020 globally there have been 29 million cases reported resulting in 933,000 deaths. The US has been one of…
    read more
  • The New Uncertainty
    The New Uncertainty

    Five ways CFOs are looking at the world

    We are now five months into the COVID-19 pandemic and, while some economies are taking steps to reopen, uncertainty still prevails. The chief financial officers (CFOs) and Finance teams we work with have gotten through the initial crisis stages, but they are still trying to make sense of new economic realities.
    read more
  • 84% of U.S. Adults Say COVID-19 Will Impact Their Ability to Achieve Long-Term Financial Security
    84% of U.S. Adults Say COVID-19 Will Impact Their Ability to Achieve Long-Term Financial Security

    ... Yet confidence in a robust recovery is high as financial discipline prevails

    New findings from Northwestern Mutual's 2020 Planning & Progress Study reveal that 84% of U.S. adults aged 18+ expect the COVID-19 pandemic and subsequent economic downturn will have an impact on their ability to achieve long term financial security. Six in 10 (59%) say that impact will be moderate or high.
    read more
  • Virtual Enrollment, Real Benefits: Five Tips to Help Employers Navigate the New Reality
    Virtual Enrollment, Real Benefits: Five Tips to Help Employers Navigate the New Reality

    45% of adults unsure if short-term disability covers COVID-19

    Virtual graduation, Zoom weddings, sports without spectators — this year everything looks different and open enrollment will be no exception. The days of in-person presentations and paper pamphlets are over — open enrollment is going virtual. Lincoln Financial Group (NYSE:LNC) understands that this new reality and the ongoing pandemic create a greater need for education…
    read more
  • Life Insurance Supplements Social Security by $1.5 Trillion Over Nine Years
    Life Insurance Supplements Social Security by $1.5 Trillion Over Nine Years

    Industry has more than $8.6 trillion invested in the economy

    Between 2010 and 2018, the U.S. life insurance industry distributed nearly $1.5 trillion in claims and benefits to policyholders, an amount equal to 19 percent of all Social Security payments made over that same period, according to a study released today.
    read more
  • Pandemic Spurs Remote Work, Raises Office REIT Cash Flow Risk
    Pandemic Spurs Remote Work, Raises Office REIT Cash Flow Risk

    Cash flow will be affected over the near term

    The acceleration of the remote working or the work from home (WFH) trend and the loss of office-based jobs due to the coronavirus pandemic is pressuring US office REIT cash flows, says Fitch Ratings. We expect recent tenant densification and the prevalence of long-term leases to lessen risk. However, cash flow will be hurt over…
    read more
  • Diverging US, EU ESG Regulations Could Impact Fund Returns
    Diverging US, EU ESG Regulations Could Impact Fund Returns

    By translating into differing investment considerations, risks and potential returns over the longer term

    Divergence between U.S. and EU/UK regulations regarding sustainable investing is increasing, as seen with the disparate interpretation and application of Environmental, Social and Governance (ESG) rules for pension funds, Fitch Ratings says.
    read more
  • Stocks Continue Downward Slide
    Stocks Continue Downward Slide

    Stocks traveled a volatile path last week as investors appeared concerned about the upcoming elections, an uncertain economy, and more delays with additional fiscal stimulus.

    The Dow Jones Industrial Average slid 1.66%, while the Standard & Poor's 500 slumped 2.51%. The Nasdaq Composite index plummeted 4.06% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, rose 1.44%
    read more
  • Why Retirement Income Planning Matters
    Why Retirement Income Planning Matters

    Advisors, consumers did not see coronavirus crash coming

    Despite growing attention to the coronavirus in the run up to the March stock market crash, the sixth annual Guaranteed Lifetime Income Study (GLIS) by Greenwald & Associates and CANNEX finds that few clients or advisors believed a market downturn was very likely in 2020. Similar to findings from previous periods of market volatility, the…
    read more
  • Considerations For An Old 401(k)
    Considerations For An Old 401(k)

    Here are 4 options for a 401(k) with a former employer.

    Changing or leaving a job can be an emotional time. You're probably excited about a new opportunity—and nervous too. And if you're retiring, the same can be said. As you say goodbye to your workplace, don’t forget about your 401(k) or 403(b) with that employer. You have several options and it’s an important decision.
    read more