2024-04-26 | retirement
... implement retirement savings programs but noted that federal intervention is essential to address the broader issue. Access to workplace retirement plans emerged as a critical factor in retirement savings. AARP's survey revealed that Americans are 15 times more likely to save for retirement when such plans are available through their employers. However, an alarming 57 million people lack access to such plans. Congress is currently deliberating on various legislative proposals aimed at bolstering retirement security, including the bipartisan Retirement Savings for Americans Act of 2023 and t...
2024-03-21 | advice retirement
... ite of new partnerships with asset management and insurance providers to offer a market-leading range of in-plan and out-of-plan guaranteed retirement income solutions for investors saving through workplace plans.The new offerings, to be launched in the coming weeks, will offer retirement plans multiple options designed to convert participant retirement savings into an income stream customized to their individual needs to support them in their post-working years. The offering will include managed accounts with a guaranteed lifetime withdrawal benefit featuring Income America by American Centur...
2023-06-01 | demographics finances
... nancial goals. Almost three in four young adults (72%) indicate they are saving in a retirement plan – either through their workplace (48%), one that they purchased on their own (13%), or both (11%)."The sooner young people start saving for retirement, the more their money has time to grow, and the better they'll feel about their financial futures," said Jeanne de Cervens, Director of the AgingWell Hub. "We can't have people this early in their careers resigning themselves to thinking they won't do as well financially as their parents did. We need employers, community groups and others to st...
2022-05-19 12:02:00 | retirement
... his as a savings vehicle. “For many Americans, the workplace is their first exposure to retirement savings education. While it’s heartening to see a significant percentage making 401(k) contributions and taking advantage of an employer match if it is offered, this is just the first step toward building a financial strategy that can sustain living 30 years or more in retirement. The partnership of a trusted financial professional can help put these resources into the context of a broader financial strategy,” said Huang. Additional findings from New York Life’s Wealth Watch survey ...
2022-05-19 | retirement
... .5 million plan participants as of March 31, 2022. Considers average balance across all active plans for 5.6M unique individuals employed in tax-exempt market. Source: Fidelity Investments ...
2022-05-04 12:00:05 | workplace
... t time in their adult lives,” said Kelly Lannan, senior vice president, Emerging Customers, Fidelity Investments. “It’s therefore no surprise this group looks at the workplace in a new light. Of course, financial benefits will always be important, but there’s also a heightened expectation from younger professionals to have more paid time off, schedule flexibility and meaningful work – and they’re not afraid to make a change to attain that expectation.” While salary is typically the most important factor when a person is assessing a job offer -- the other top three financial co...
2022-04-26 12:10:00 | crypto retirement
... turn from individuals with an appetite to incorporate cryptocurrencies into their long-term investment strategies.” The announcement of Fidelity’s workplace digital assets account represents the firm’s continued commitment to evolving and broadening its digital assets offerings amidst steadily growing demand for digital assets across investor segments. According to the Fidelity Digital Assets 2021 Institutional Investor Digital Assets Study, 30% of U.S. institutional investors surveyed would prefer to buy an investment product containing digital assets. Meanwhile, Fidelity estimates t...
2022-04-25 14:00:00 | demographics financial planning retirement
... the way you need it to at least once a year. ...
2022-04-25 12:15:00 | workplace
... ed online three times per year as results come in, and an annual New York Fed press release, issued following the July survey, highlights notable changes and trends. Source: New York Federal Reserve...
2022-02-11 12:29:10 | retirement women workplace
... The survey found women are also interested in exploring solutions that can help them reach their goals. About half (48%) of female participants showed interest in in-plan guaranteed lifetime income. ...
2021-12-03 12:00:00 | pandemic workplace
... lenges of the pandemic will likely slow the back-to-the-office movement. Future trends may be more evident in a few weeks after year-end bonuses are paid and 2022 pay increases are discussed. ...
2021-10-29 09:08:19 | demographics retirement
... early withdrawals from retirement accounts. Twenty-seven percent of women have taken a loan, early withdrawal, and/or hardship withdrawal from their 401(k) or similar plan or IRA at some point, including 19 percent who have taken a loan and 19 percent who have taken an early and/or hardship withdrawal. Many expect their primary source of retirement income to be self-funded savings from 401(k)/403(b)/IRAs and or other savings and investments (47 percent). Twenty-seven percent of women workers expect to rely primarily on Social Security and 15 percent on income from working. Household retir...
2021-10-20 12:10:10 | demographics
... education is offered in schools, institutions of higher education, and workplaces, we will continue to see generations of adults struggling with their personal finances." The P-Fin Index is an annual barometer of financial literacy among the U.S. adult population. It measures knowledge and understanding that enable sound financial decision making and effective management of personal finances. The P-Fin Index is based on responses to a 28-question survey covering eight areas in which individuals inherently function. Earning: determinants of wages and take-home pay. Consuming: budgets...
2021-10-11 12:00:00 | retirement
... 9%) say they intend to save more in their retirement plan. Participants are not the only people looking to invest in their futures, though, as nearly half of those who have access to workplace retirement benefits but do not currently participate, plan to start contributing. This makes now the perfect time for employers to celebrate National Retirement Security Month and take steps to help their employees achieve the retirement they envision. “It is clear that while the COVID-19 pandemic affected everyone to different degrees, what the majority of workers have in common is their focus on i...
2021-08-10 09:08:19 | workplace
... remote work the primary experience for all of its 547 employees. "While we watched Wall Street return to their offices this past month, we know virtual workplaces are here to stay. Yesterday, Personal Capital internally announced we will not return to our offices. We are listening to our employees, who want more balance and flexibility. Our growth since March of 2020 proves our digital-first hybrid model was built for virtual delivery. We want everyone, both clients and employees, to know we are listening and responding to your wants and needs," said Jay Shah, President of Personal Capital....
2021-07-06 | workplace
... ...
2021-06-10 12:00:00 | employment workplace
... y will be required to come back before it is safe to do so. MindEdge's second annual survey on remote work, The State of Remote Work 2021: The Age of the Hybrid Workplace found that concerns about workplace safety are most pronounced in the Technology (78%) and Healthcare (67%) sectors. At the same time, vaccine mandates appear to be finding favor among many businesses. A full 40% of survey respondents have been told that they must be vaccinated in order to return to work, while only 14% have been told that vaccinations will not be required. Another 47% have not heard one way or the other ab...
2021-06-08 12:00:00 | housing
... as a whole, the findings are evidence of the Great Reshuffling at work. Up until March 2020, workers were largely locked to locations within a bearable commute of their workplace. When the pandemic hit, many began working remotely -- spending a lot more time at home and thinking about where, and how, they want to live. A larger house with an office or chef's kitchen, or a home with lower monthly payments in sunny Arizona, became extremely alluring. All the while, interest rates kept dropping, adding fuel to a scorching-hot housing market and boosting shoppers' buying power. Home appreciatio...
2021-06-02 12:00:00 | employment
... ybrid workforce where returning will be required for some and voluntary for others. Source: The Conference Board...
2021-05-19 12:00:00 | pandemic demographics
... ch cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more. Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services. Our global network of member firms and related entities in more than 150 countries and territories (collectively, the "Deloitte organization") serves four out of five Fo...
2021-05-12 12:00:05 | employment workplace
... sistently re-assess conceptions of productivity and the impact on their cultures, ensuring their team's approach is optimized for the in-person, hybrid and digital work experience." Source: EY...
2021-05-11 | employment workplace
... ealth as excellent or good – up from 67% in the early months of the pandemic. “Understanding an employee’s mental health plays an important role in managing workplace injuries,” said Dr. Marcos Iglesias, Vice President and Chief Medical Director at Travelers. “The pandemic has likely affected the many psychosocial factors that can complicate the healing process and delay the time it takes to recover from a physical injury. It’s encouraging to see workers’ mental health trending back toward pre-pandemic levels because when employees are in a good mental state, they are safer, m...
2021-05-07 | retirement healthcare
... rt B covers expenses such as hospital stays, doctor visits and services, physical therapy, lab tests and more, and in Medicare Part D, which covers prescription drugs. Source: Fidelity Investments...
2021-05-06 | investing
... investing, financial and estate planning. This year’s report surveyed 1,500 high-net-worth men and women in marriages or partnerships and showed that while women continue to make strides in the workplace, there is still a long way to go in achieving equality at home. Surprisingly, only one in five (20%) couples say they make financial decisions together, but overwhelmingly believe that unless women are equally involved in these decisions, there will never be true gender equality. During the pandemic, stereotypical gender roles became exacerbated among couples when it came to discussi...
2021-05-06 | pandemic workplace
... our nearly 170-year-old commitment to help people secure their future and protect the ones they love.” Complex balancing act of working parents New financial, workplace and childcare responsibilities are converging to create heightened challenges for parents according to the index. More than half (52%) of parents are spending more on monthly family-related costs due to the pandemic, and one-third are spending $1,000+ more per month. Nearly two-thirds (65%) of parents dipped into savings over the last three months, significantly more than the general population (45%). The survey also ...
2021-04-28 12:00:20 | financial wellness pandemic
... so offer resources to help individuals cope with the anxiety and stress stemming from their financial situation. Personal finance experts—such as advisors, counselors and planners—should take heed of the harmful effects of financial anxiety and stress on their clients. Source: FINRA, GFLEC ...
2021-04-28 12:00:10 | workplace
... to four seasons of world-class outdoor adventures at highly rated destinations like Solitude; nomads have endless options to live life to the fullest, just outside their back door. Source: Zillow...
2021-04-26 12:00:10 | employment pandemic
... ed to be rehired to their previous positions, or they simply couldn't return because they were weighed down with more childcare responsibilities. Layoffs soon returned to historic lows: Layoffs peaked in the spring but dropped back to historic lows by mid-summer, leaving workers feeling secure with their jobs. Job-hopping continued: Strong hiring, coupled with fewer job seekers per opening, resulted in quit rates bouncing back to historic highs. Even in this pandemic, many workers were voluntarily moving to new jobs. Not all good news: As is common during recessions, some labor market-re...
2021-04-19 12:00:05 | pandemic workplace
... a smart, beneficial career move for workers around the world,” said Casey Phelps, senior vice president of client services EMEA at Graebel, a leading provider of global talent and workplace mobility solutions for Global 100 and Fortune 500 firms. “It’s proof that the global mobility industry isn’t slowing down anytime soon. Workers are undeterred and ready to relocate to advance their careers, and companies must be prepared to support their mobile employees.” To attract world-class talent, companies need to create strong talent mobility offerings and programs that create exceptio...
2021-04-12 14:00:00 | workplace employment
... d experiences." Source: Qualtrics...
2021-04-09 12:00:00 | workplace employment
... ys ending 2/18/21. 1,566 responses (1,063 organizations; 503 employees) were received, representing organizations of different sizes and across multiple industries/geographies. Source: WorldatWork...
2021-04-08 12:00:00 | pandemic workplace
... be taking on a new form as we ease back into socializing with others. We should not take a step backwards but instead, companies must create flexible, hybrid workplaces to keep their employees happy and engaged." Job Satisfaction Is Tied to Flexible Work Models Hibob's study found that job satisfaction is back up to pre-pandemic levels as people have adjusted to the benefits of working from home. When surveyed about overall job satisfaction, 62% of individual contributors, 66% of middle managers, and 79% of senior managers answered they were presently highly satisfied with their jobs....
2021-04-01 15:00:00 | retirement investing
... in their workplace retirement plan, with 1 in 10 (13%) saying they feel totally unprepared for making decisions about their plan, compared to only 4% of men who say they feel unprepared. Education toolbox Plan sponsors who take a one-size-fits-all approach to retirement plan communications might want to “retire” their thinking. When asked what types of tools and information investors wish their employers would provide to help navigate their retirement plans, responses varied across employee profiles: While 35% of investors utilize their employer plan administrator most for advi...
2021-04-01 12:00:01 | housing real estate
... that came during a 12-month period when the national median home price shot up 18 percent, to $278,000, in the first quarter of 2021. Yet, with workplace pay rising and home mortgage rates continuing to hit historic lows, major expenses on a median-priced home nationwide still consumed just 23.7 percent of the average wage across the country in the first quarter of 2021. That figure was up from 22 percent in first quarter of 2020 and from 19.7 percent five years ago. But it remained well within the 28 percent standard lenders prefer for how much homeowners should spend on those major expense...
2021-03-31 15:00:01 | pandemic workplace
... t on what employees need from their employers – not only right now, but in the future,” said Katz. “As the workplace continues to evolve and become more personalized, employers need to heed the wants and needs of their employees, and then reflect these key learnings in benefits and work experiences they provide.” Research Methodology MetLife’s 19th annual U.S. Employee Benefit Trends Study (EBTS) was conducted in December 2020 and January 2021 and consists of two distinct studies fielded by Rainmakers CSI – an international strategy, insight and planning consultancy. The empl...
2021-03-31 12:00:00 | workplace
... fer from an employer whose policies in these areas didn't match their personal beliefs. The report makes recommendations for how companies can adapt to workers' expectations about remote work for the long term, among them new leadership models and remote work strategies designed for individual jobs. The data gathered for Decoding Global Ways of Working provides insights into worker preferences by gender, age, education level, level of digital skill, and position in the job hierarchy. This data will also inform a third report that BCG and The Network will publish in the coming weeks as part ...
2021-03-30 14:00:02 | retirement
... ...
2021-03-30 | workplace employment
... wipe-out It is likely that workplace hygiene procedures will continue on an ongoing basis, even postpandemic. Organizations should provide bleach wipes throughout the office space, and require employees to wipe their desk down when they come in and before they leave to promote health and cleanliness in the office. Overnight Storage Organizations should offer employees in shared desks with some space, such as a locker, where they can securely store a limited amount of work materials or personal items. “The offices for the hybrid workforce of the future will cater to fewer employees at ...
2021-03-22 09:08:19 | workplace
... with a colleague this past year. They also show that we are on the cusp of a workplace disruption: 73% of workers surveyed want flexible remote work options to continue. Remote job postings on LinkedIn increased more than five times during the pandemic. Over 40% of the global workforce is considering leaving their employer this year and 46% are planning to move now that they can work remotely. In short, addressing flexible work will impact who stays, who goes and who joins a company. To help organizations through the transition, the 2021 Work Trend Index outlines findings from a...
2021-03-12 14:00:04 | demographics health
... e employee benefits options that directly address mental health and substance abuse issues, and regularly communicating those benefits are ways employers can create supportive workplaces that promote behavioral health. Source: The Standard...
2021-02-25 | investing demographics
... an investor, and while it’s encouraging to see greater parity among those who have access to this opportunity through their workplace, it’s incumbent on employers and all of us in our industry to help 401(k) owners save more throughout their earning years,” she says. Trust Remains an Issue Trust in the financial services industry continues to affect stock market participation among Black Americans. While similar proportions of Black and white investors believe that financial services institutions are not trustworthy (23% vs. 20%), only 35 percent of African American investors feel...
2021-01-29 09:30:30 | benefits workplace
... on programs; developing engaging, year-round communication campaigns; and offering innovative digital tools to help their employees understand and maximize their workplace benefits,” explained Frend. “At Voya, we recently launched a new HSA digital assistant — myHealthMoney — to help employees plan for future health-care expenses. In 2021, Voya is working to enhance the capabilities of this powerful tool to help Americans make informed benefits decisions and manage their income across competing health, savings and spending demands.” Source: Voya Financial...
2021-01-25 12:00:00 | workplace demographics employment
... arn more, download the eBook at https://www.nintex.com/nintexworkplacestudy2021_ebook_0121/. Source: Nintex...
2021-01-08 12:00:00 | stock market investing
... y-at-home orders returning and corporate America slow to return to the workplace, interest in the tech sector remained steady at 46%. Energy. This historically volatile sector just bumped consumer staples from last quarter, ranking third (30%). The energy sector is highly dependent on the price of oil and, with stalled reopenings around the globe, the sector could be in for more bumps in the road. Investors may see opportunities in undervalued energy names. About the Survey This wave of the survey was conducted from January 1 to January 7 of 2021 among an online US sample of 904...
2020-12-30 | retirement workplace pandemic
... e and the economic outlook has yet to be fully felt but points to a real danger that the crisis will likely exacerbate. In the United States, 1,005 individuals actively contributing to a workplace retirement plan participated in the survey. Key findings from US participant responses around the central themes of confidence, default strategies, active management and sustainability included: Challenge #1: Confidence, actual and otherwise In the US, retirement plan participants show significant confidence in their ability to save for retirement: 72% of survey respondents say they are confi...
2020-09-16 | workplace
... ital indemnity insurance, critical illness insurance, or short-term and long-term disability income insurance....
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