If ever there were any doubts about the benefits of having a formal financial plan to help prepare for retirement, a new study by T. Rowe Price puts that to rest. According to the firm’s report, individuals with a formal financial plan were found to have two to four times more wealth when entering... READ MORE

A new report by a collaborative of industry stakeholders suggests that low-cost, plan-design solutions to nudge participants to avoid early withdrawals could make a significant dent in the racial and gender retirement savings gap. The report also observes, however, that more study is needed to... READ MORE

An early preview of Vanguard’s How America Saves 2024 finds that plan sponsors are continuing to make improvements to their plan designs.   The report reveals that 60% of plans with an automatic enrollment design defaulted their employees into the plan at a rate of 4% or higher—which is a new... READ MORE

While it may come as no surprise, a new survey finds that nearly all Americans (97%) agree that the financial professional who provides one-time recommendations or other one-time advice about retirement investments should be required to act in their client's best interest. This includes a... READ MORE

While there’s an emerging sense of optimism among women that the economy is improving, many unfortunately still worry about achieving financial security, particularly in the areas of retirement savings and paying down debt.  Released in celebration of Women’s History Month, these findings are... READ MORE

To address retiree concerns about running out of money in retirement, MetLife announced that it is working with Fidelity Investments to offer a fixed immediate income annuity through Fidelity’s new retirement income solution. The availability of the MetLife Guaranteed Income Program through... READ MORE

While employers strive to address employees’ evolving needs, the results of a new survey find a disconnect between compensation and benefit offerings and employee preferences. Franklin Templeton’s Voice of the American Workplace Survey, now in its fourth year, finds that employee expectations are... READ MORE

A hearing that was billed as “taking a serious look at the retirement crisis in America” with a focus on improving the defined benefit system ended with witnesses agreeing that some reforms are needed, but calling for drastically different measures. The Feb. 28 hearing was held by the Senate... READ MORE

Even with other ongoing financial struggles, retirement savers ended the year on a positive note with improved market conditions and consistent contributions helping boost average account balances to their highest level in nearly two years. Indeed, according to the latest data from Fidelity... READ MORE