September 2024
04Sep

US. The Economic Implications Of Aging Boomers And Emerging Millennials

More than 4 million Baby Boomers, born 1946-1964, are reaching 65 each year through 2027, and they are exiting the labor force in droves. Meanwhile, the core labor force is growing at a snail’s pace. Since 2000, the population of 25- to 54-year-olds has grown by only 7%. How the U.S. manages these converging demographic trends will be a monumental challenge in the years ahead. With an aging population, the government will face higher obligations for medical and Social Security costs. There will be fewer workers...

September 4, 2024
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03Sep

US. Fortune 500 pension plans shift $1B to bonds

Many pension managers are allotting more assets to long-term investment-grade corporate bonds, reported Standish Mellon Asset Management Co. LLC of Boston today. The firm, which is the fixed-income specialist for BNY Mellon Asset Management and a subsidiary of The Bank of New York Mellon Corp., said that 15 Fortune 500-company pension plans have added about $1 billion to their bond portfolios since January. Nearly half of the $1 billion is new money and the rest is re-allocated, said BNY...

September 3, 2024
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03Sep

US. This Triple Tax-Advantaged Retirement Account Is Getting a Big Boost for 2025

The IRS doesn't always give away tax breaks for free. Often, there's some sort of catch involved. With a traditional IRA or 401(k) plan, for example, you get a tax break on the money you contribute. But in return, you're not allowed to access that money before age 59 1/2, and taking an early withdrawal generally results in an expensive 10% penalty. Health savings accounts, or HSAs, work similarly. While these accounts are loaded with tax breaks, there are strict rules you...

September 3, 2024
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02Sep

US. Annuities gain traction with middle-market consumers

Middle-income Americans will have a more difficult time managing their longevity risk in retirement now that fewer of them have defined benefit plans. Making matters more complicated is that many of these middle-market investors may have saved thousands of dollars throughout their careers in their employer-sponsored defined contribution plans but may not know how they can be certain their money lasts throughout the retirement. LIMRA’s Retirement Investor Study, published earlier this year, examined middle-income investors’ views of their retirement risks...

September 2, 2024
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02Sep

The Average Retirement Age in 2024: US vs. UK

With recent economic challenges and rising costs of living, retirement is on many Americans’ minds. You may be wondering: Is the state of retirement in the U.S. worse than in other countries? That depends on which country you’re talking about. Read on to learn about the average retirement age in the U.S. and UK, plus current retirement processes, to compare the difference.   Earning passive income doesn't need to be difficult. You can start this week. What Is the Average Retirement Age in the US? According to...

September 2, 2024
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August 2024
30Aug

US. Texas is sued over anti-ESG law

 Texas was sued on Thursday by a nonprofit whose members support environmentally-friendly policies, and which seeks to block a state law targeting businesses that support reduced reliance on fossil fuels. The American Sustainable Business Council said the 2021 law known as Senate Bill 13 violates members' free speech rights by banning Texas from investing in or contracting with businesses that, in the state's view, "boycott" the oil and gas industry. Texas is the largest and among the most prominent Republican-led states...

August 30, 2024
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29Aug

US. Prudential to Complete Industry’s 1st Multiemployer Pension Risk Transfer

In what is thought to be an industry first, Sound Retirement Trust, a multiemployer pension plan based in Seattle, has selected the Prudential Insurance Co. of America to complete a pension risk transfer—the first PRT to involve a multiemployer plan. The $221 million transaction will provide pension benefits for approximately 8,700 retirees and beneficiaries. Sound Retirement Trust is a joint labor-management board of trustees that provides retirement benefits to grocery workers of contributing employers across Washington. Multiemployer pension plans are retirement programs...

August 29, 2024
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27Aug

US. How Are Employees Responding to State-Run Retirement Plans?

Practice Management State-run auto-IRA plans affect private-sector employers but are most of all intended to benefit their employees. How are those employees responding to them? Overall Positive Effects There is research indicating that these plans, in which employers are required register if they do not already offer retirement coverage to their employees, have a variety of positive effects. A number of researchers report that state auto-IRA programs increase coverage by serving as a catalyst to private-sector employers to establish plans of their own. In the...

August 27, 2024
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27Aug

US. National Center to Reframe Aging partners with SAGE USA to enhance advocacy for LGBTQ+ elders

The National Center to Reframe Aging — which provides expertise in effective communication strategies surrounding aging issues — has established a strategic partnership with SAGE USA. This collaboration aims to educate SAGE leadership and the SAGE National Resource Center (NRC) on LGBTQ+ Aging on the principles of reframing aging. The National Center to Reframe Aging will be a strategic partner supporting the SAGE National Resource Center on LGBTQ+ in their efforts to reframe their education and advocacy communications on aging. The team will provide...

August 27, 2024
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26Aug

The Average Retirement Age in 2024: US vs. France

Do Americans really work themselves to death, as the media so often portrays? Likewise, do Europeans really avoid work like the plague? Of course not — but that doesn’t mean the retirement looks identical in countries like the US and France. While the average retirement age differs, so too do the benefit systems in each country. Consider the following facts as you compare retirement in the US to France, before booking a one-way ticket to the Continent. Also check out these reasons for using a financial advisor...

August 26, 2024
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