IRA – Benefits Canada.com

Just 17% of workers aged 50+ confident they can maintain a comfortable lifestyle in retirement: survey

Sadie Janes — Tue, 03 Oct 2023 13:00:31 +0000

Only 17 per cent of U.S. employees aged 50-plus and 23 per cent of retirees are very confident they’ll be able to maintain a comfortable lifestyle throughout retirement, according to a new survey by the Transamerica Center for Retirement Studies in collaboration with the Transamerica Institute. The survey, which polled more than 10,000 U.S. employees, […]

The post Just 17% of workers aged 50+ confident they can maintain a comfortable lifestyle in retirement: survey appeared first on Benefits Canada.com.

U.S. gen X workers falling short of retirement savings targets: report

Sadie Janes — Thu, 20 Jul 2023 13:00:27 +0000

While more than half (55 per cent) of U.S. generation X employees participate in an employer-sponsored retirement savings plan, nearly two-thirds of men (62 per cent) and women (64 per cent) participating in these plans say they’ve saved less than 10 per cent of their retirement savings target, according to a new report by the […]

The post U.S. gen X workers falling short of retirement savings targets: report appeared first on Benefits Canada.com.

81% of U.S. public sector workers worry about retirement savings: survey

Sadie Janes — Tue, 07 Feb 2023 14:00:19 +0000

The majority (81 per cent) of U.S. public sector employees worry whether they’ll have enough money to last them through retirement, according to a new survey by MissionSquare Research Institute. The annual survey, conducted alongside the International Public Management Association for Human Resources and the National Association of State Personnel Executives, also found just 41 per […]

The post 81% of U.S. public sector workers worry about retirement savings: survey appeared first on Benefits Canada.com.

19% of U.S. employees taking conservative approach to retirement savings: report

Sadie Janes — Fri, 19 Aug 2022 19:00:49 +0000

A fifth (19 per cent) of U.S. employees say they’ve adjusted their retirement strategy and are taking a more conservative savings approach amid economic uncertainty, according to a new report by Fidelity Investments Inc. It found the total savings rate for the second quarter of 2022 continued the positive momentum achieved in the first quarter, […]

The post 19% of U.S. employees taking conservative approach to retirement savings: report appeared first on Benefits Canada.com.

Survey finds half of young U.S. employees withdrawing early from retirement savings

Sadie Janes — Tue, 05 Jul 2022 13:00:15 +0000

Half (49 per cent) of U.S. employees younger than age 34 are withdrawing early from an individual retirement account or 401(k), according to a new survey by Morgan Stanley. The survey, which polled more than 900 U.S. workers, found among those making early withdrawals, 20 per cent said they needed the money to pay for […]

The post Survey finds half of young U.S. employees withdrawing early from retirement savings appeared first on Benefits Canada.com.

401(k)s hit records as workers sock away more, stocks jump

mschmit — Fri, 14 Feb 2020 03:58:59 +0000

The average 401(k) balance rose 17 per cent last year to $112,300 from the end of 2018, according to a review of 17.3 million accounts by Fidelity Investments. The average individual retirement account, or IRA, balance rose the same percentage to $115,400. Those figures are averages, not medians, and the typical 401(k) might be closer […]

The post 401(k)s hit records as workers sock away more, stocks jump appeared first on Benefits Canada.com.