Thirty percent of those surveyed have virtually no savings or investments, and 60 percent reported less than $25,000 in savings, excluding the value of their home or any defined benefit plans.Read More
The aggregate funding level of 422 pension plans offered by Fortune 1000 companies fell to 78 percent in 2011, down from 84 percent in 2010 and 81 percent in 2009, according to Towers Watson & Co. analysis.
While older workers tend to be more concerned about retirement than their younger colleagues, the survey found that the most dramatic shift in attitudes toward retirement security has been among the under-40 set.Read More
Financial stress and uncertainty are serious workplace issues, a study by MetLife Inc. shows. Seventy-eight percent of employers said concerns over financial problems could have a negative effect on productivity. The study also found that effective financial education lowers stress, reduces absenteeism and increases productivity among the workforce.Read More
Out-of-pocket costs on drugs and medical insurance are the second most costly item for older folks.Read More
Experts agree that automatically enrolling all participants and annually increasing the pretax employee salary contribution is crucial for getting minorities to participate in retirement plans. Read More
'I would like to believe, three years past the depths of the worst economic time since the Great Depression, there are lessons learned.'
Facing a $3.6 billion deficit for the state's 2011-13 budget, Wisconsin Gov. Scott Walker says he knew he had to do something and didn't really like the choices. The budget shortfall was the largest the state had ever seen, and Walker says he didn't want to raise taxes, fire anybody or cut services.