A column warning future generations not to follow baby boomers' lead when it comes to retirement planning elicited a fiery response from boomers.
More than half of 401(k) plan sponsors would prefer to keep retired participants’ assets in their plan rather than having them roll their assets into an IRA or another employer-sponsored plan.
Nearly two-thirds of US households are now involved in intergenerational wealth transfer, with growth seen in both wealthy and lower-asset households.
More than half of consumers say they’ve taken steps to lower health care costs over the last two years, Fidelity reports.
The deal brings over $5.6 billion in retirement plan assets, representing more than 1 million participants and 41,000 individual accounts across 11 states.
The Allianz Life survey also showed fewer Americans than last year are worried about a major recession hitting the economy any time soon.
Voya says its new program will provide greater support for plan participants when it comes to retirement saving, including tailored investment advice and managed accounts.
Toomey represented Pennsylvania in the Senate from 2011 to 2023 and served as the ranking member of the Senate Banking Committee from 2021 to 2023.
Mutual of America agreed to settle an ERISA excessive fee lawsuit filed by 401(k) participants last week.
American workers 45 and older think it will take about $1.1 million in savings to retire comfortably, yet only 21% expect to reach even the $1 million mark.
