October 2025
31Oct

The Future of Retirement Security An International Comparison through the Lens of Adequacy, Sustainability, Equity and Plan Design

By Surya Kolluri, Catherine Reilly & David P. Richardson Countries around the world are considering and implementing reforms to their retirement systems for a variety of reasons, including increasing demographic and economic pressures. A key demographic driver is human longevity. For example, the average retiree can expect to spend about two decades in retirement, roughly double the time from 50 years ago. In the United States, life expectancy has risen by 17 years since the Social Security program debuted nearly 90...

October 31, 2025
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31Oct

US. Uncertainty about retirement growing increasingly

Americans are growing increasingly uncertain about their retirement plans amid persistent inflation and mounting concerns about the future of Social Security. In a trio of recent surveys from Charles Schwab, Fidelity, and Northwestern Mutual, Americans' confidence in their ability to retire, retire comfortably, and the exact age at which different generations expect to retire varied widely. And in both the Schwab and Fidelity surveys, the number of Americans who said they're confident in their retirement plans fell from the same surveys conducted last...

October 31, 2025
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30Oct

US. State Pension Funding Levels Stayed Stable Despite Volatility

The reported funding gap for state pension plans—the disparity between promised benefits and available assets—was $1.32 trillion in 2023, according to 50-state data collected by The Pew Charitable Trusts. This represents a $44.7 billion increase over 2022, driven primarily by increases to liabilities from benefit changes and differences between what plans assumed for salaries, longevity, and similar workforce and demographic trends and what actually happened. However, even amid volatile markets, state funds showed signs of resilience. The overall funded ratio—the...

October 30, 2025
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30Oct

Risks escalate for U.S. retirement plans due to unregulated private credit funds and new rules opening them up to retirement savings accounts

When the privately owned auto parts manufacturer First Brands Group earlier this month began to be unable to service its $6.1 billion debt load, the financial press began to pick up on the story—not because it was so unique or important to the U.S. economy, but rather because various financial institutions, including the Swiss banking giant UBS Group AG, were admitting that their exposure to the company was higher and more complicated than they had previously shared, through their...

October 30, 2025
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29Oct

US. After 4 Weeks, How the Government Shutdown Is Affecting Retirement Plans

On Tuesday, Day 28 of the government shutdown, federal agencies and departments were unable to make important updates that, if delayed much longer, could affect retirement plans and their participants. The Internal Revenue Service, for example, operated as normal in the early days of the shutdown, but eventually needed to furlough employees and to further reduce operations as the government closure dragged on. As it stands now, the agency is unable to publish critical information that normally would be released in fall....

October 29, 2025
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28Oct

US. Are Workers Warming Up to In-Plan Annuities?

“Today, 40 percent of retirees have access to a pension plan. The numbers go down substantially each generation,” Hodgens says. “Just 24 percent of Gen X workers have access to a pension, and only 16 percent of millennials will have a pension.” He and other financial professionals say recent federal legislation focused on retirement security could help fill the pension gap. The Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in 2019, and SECURE 2.0, which followed three...

October 28, 2025
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28Oct

Rising birth rates no longer tied to economic prosperity

Fertility rates began falling in most of the world starting in the last century. By the 1970s, the U.S. had dipped under the replacement rate of 2.1 children per woman, a trend that has continued on a declining slope. In her new working paper, “The Downside of Fertility,” Claudia Goldin, the Henry Lee Professor of Economics, takes a deeper dive into the cultural changes around gender that are driving down fertility rates. The economic historian and 2023 Nobel laureate introduced a model in a previous...

October 28, 2025
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24Oct

US. AIC Celebrates National Retirement Security Week 2025

The American Investment Council (AIC) today proudly joins in celebrating National Retirement Security Week (October 19–25) by highlighting how private equity investments strengthen retirement security for millions of Americans across the country. “Retirement systems and public pension funds nationwide continue to rely on private equity because it has outperformed every major asset class over the long term, offering steady, diversified, and robust returns,” said Will Dunham, President and CEO of the American Investment Council. “The recent Executive Order democratizing retirement...

October 24, 2025
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23Oct

Millennials en EE.UU.: entre el sueño de la casa propia y una jubilación segura

Los millennials estadunidenses están viviendo una encrucijada financiera que define su futuro: elegir entre comprar una vivienda o asegurar una jubilación estable. Un estudio de Advisor Authority, respaldado por el Nationwide Retirement Institute, revela que 58% de los inversionistas millennials siente que debe decidir entre ser propietario y ahorrar para su retiro. Con precios de vivienda que crecen más rápido que los salarios, esta generación enfrenta un entorno económico muy distinto al de sus padres, en el que la casa...

October 23, 2025
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22Oct

US. Corporate Pension Funding Ratios Hit Highest Level Since 2007

The funded ratio for the largest 100 corporate defined benefit plans improved to 106.5% in September, the highest level since October 2007 (108.1%) and up from 106.3% in August, according to Milliman’s pension funding index. September’s market returns of 2.5% added $26 billion to the market value of plan assets and swelled the funding status surplus to $80 billion last month. Meanwhile, discount rates dropped 17 basis points to 5.36%, which raised plan liabilities by $22 billion. During the third...

October 22, 2025
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