Statistics show the baby boomers have median retirement savings of just $144,000 — at a time when Americans keep living longer.
Fewer retirement plan participants took hardship withdrawals to meet their immediate financial needs, according to the report.
The target-date funds will invest in actively managed sustainable and ESG-focused exchange-traded funds managed by Putnam.
Passing down season tickets from generation to generation can get hairy. It’s often worthwhile to bring in an estate planner or attorney to make sure it’s a clean handoff.
Starting next year, beneficiaries of 529 plans that have been in place for 15 years or more will be able to move assets into a Roth IRA.
As plan sponsors and plan advisors do their annual reviews of company retirement plans, they’ll spend a significant chunk of their time and energy coming to terms with 2022 before seriously looking ahead to the opportunity that is 2023.
There were 88 excess fee lawsuits against retirement plans last year, the second most ever, and Daniel Aronowitz of Euclid Fiduciary expects another busy year.
The majority of account holders contributed more to their HSA than they took out in 2021. But only 12% invested their HSAs in assets other than cash.
Over two-thirds of non-retired investors say they may continue working after they retire.
A growing number of defined-contribution retirement plan participants are seeking guaranteed lifetime income products, according to a report from Greenwald Research.
