November 2023
03Nov

Alberta pension plan: Analysis of costs, benefits, risks and considerations

By LifeWorks Alberta Treasury Board and Finance (ATBF) has engaged LifeWorks to prepare a detailed analysis of the costs, benefits and structure of a potential Alberta Pension Plan (APP). This analysis includes actuarial, economic, legal, and technical information regarding the establishment and ongoing operation of an APP. This analysis will give ATBF a clearer picture on what a future provincial pension plan may look like and help answer key questions that Albertans are asking about the costs and benefits of such a move. This report does...

November 3, 2023
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October 2023
27Oct

Allianz Pension Report Latam special 2022

By Allianz Research Even before the pandemic, the pension systems of most Latin American countries ranked in the bottom third in international comparison of their long-term adequacy and sustainability in our last Global Pension Report. The Covid-19 pandemic has been a double blow with respect to pension systems’ adequacy: On the one hand, rocketing unemployment rates diminished the share of the labor force in formal employment that is covered by pension schemes; on the other hand, lower contributions to pension...

October 27, 2023
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27Oct

Insights for helping employees build enduring financial wellness

By Always Designing for People Improving long-term financial wellness is a clear priority for many employees, according to a recent survey by Retirement Insights, LLC. Seventy-eight percent of survey respondents said they prefer saving for the future over spending on current needs. Yet, many of them find some pieces of the retirement planning puzzle to be unclear and would like financial education from their employer to help them with complicated calculations and decisions. You can fulfill this unmet need and make...

October 27, 2023
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20Oct

Mercer CFA Institute Global Pension Index 2023

By CFA Institute & Monash University  The Mercer CFA Institute Global Pension Index benchmarks 47 retirement income systems around the world, highlighting challenges and opportunities within each. Botswana, Croatia and Kazakhstan were added to the mix this year. We also used updated data from the OECD and added some new questions to the integrity sub-index. The Index is made up of three sub-indices, including adequacy, sustainability and integrity, to measure each retirement income system against more than 50 indicators. Each year...

October 20, 2023
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20Oct

Understanding Financial Vulnerability Among Asians, Blacks, and Hispanics in the United States

By Andrea Hasler, Annamaria Lusardi, Olivia S. Mitchell & Alessia Sconti The COVID-19 crisis has brought to light the deeply rooted financial struggles that many people face in America, and it also exacerbated racial inequality. In particular, minority communities have been disproportionately impacted by the pandemic in many ways, making them ideal targets for efforts to promote financial well-being. This paper examines the financial vulnerability of Asians, Blacks, and Hispanics in the United States, along with potential drivers, using data...

October 20, 2023
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06Oct

The Vanguard Retirement Outlook: A national perspective on retirement readiness

By Fu Tan, Fiona Greig, Andrew S. Clarke, Kevin Khang, Kate McKinnon & Victoria Zhang The global retirement landscape is changing. As populations age, government retirement benefits are under pressure. At the same time, the shift from defined benefit to defined contribution workplace retirement plans means that workers bear more responsibility for managing capital markets risk and turning accumulated savings into retirement income. And many workers have no access to a workplace plan. In the United States, the figure is about...

October 6, 2023
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06Oct

Understanding Trends in Hispanic and African American Retirement Preparedness in the US

By Edward Nathan Wolff  Retirement income security refers to households’ ability to provide an adequate income stream during the period of their retirement from the labor force. Expected retirement income is based on four components: standard wealth holdings, defined contribution pensions, defined benefit pensions, and social security benefits. Using the Survey of Consumer Finances, I find that Black and Hispanic households made remarkable progress in terms of retirement income, poverty reduction, and replacement rates over 1989-2007. This was followed by...

October 6, 2023
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September 2023
29Sep

Best Practices for Defined Contribution Plans

By Nicole M. Boyson This paper provides operational and investment recommendations for ERISA 403(b) plans. Based on a review of academic literature and an empirical analysis, I recommend that plan investment menus include mostly passive index funds covering key investment categories, a full suite of index-based target date funds as the auto-enroll qualified default investment alternative, and a self-directed brokerage option. I also recommend that plan sponsors adhere to and regularly review the plan’s Investment Policy Statement, that the Retirement...

September 29, 2023
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22Sep

2023 BlackRock Read on Retirement

By Black Rock If the pandemic taught us anything, it’s that burnout is real. Three years on, it turns out it’s not just a workplace side effect. BlackRock’s 2023 Read on Retirement™️ survey reveals that financial burnout is on the rise – and one for employers to watch. Today, only about half of workplace savers feel on track to retire with the lifestyle they want – a double-digit drop compared to last year and a worrisome trend since 2021. Encouragingly, though, this drop in...

September 22, 2023
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15Sep

2023 401 (k) Participant Study

By Charles Schwab  • The 2023 401(k) Participant study is an online study conducted by Logica Research. • The study was conducted from April 19 through May 2, 2023. • 1,000 401(k) plan participants completed the survey. • Ages 21-70 • Work for companies with 25+ employees that have 401(k) plans • Currently contribute to their companies’ 401(k) plans • Survey respondents include participants served by approximately 15 different retirement plan providers. • The typical (median) survey length was 10 minutes. Read book “here”

September 15, 2023
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