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Retirees Fastest-Growing Users of Social Networks
Tweet Share on Facebook August 30, 2011 Comment (2)Retirees age 65 and older are the fastest-growing group of social networking site users like Facebook, LinkedIn, and MySpace, according to a new Pew Research Center survey. And for the first time this year, more than half of baby boomers use social networking sites.
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SF Fed: Baby Boomer Retirement May Sink Stock Market
Tweet Share on Facebook August 24, 2011 Comment (3)The oldest members of the baby boom generation, born between 1946 and 1964, began to turn 65 this year. Those who don’t have traditional pension plans will need to sell their assets to finance retirement. “A looming concern is that this massive sell-off might depress equity values,” according to a Federal Reserve Bank of San Francisco report released this week.
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401(k) Savers Who Stuck With Stocks Saw Gains
Tweet Share on Facebook August 19, 2011 Comment (1)401(k) account owners who maintained their equity allocation and continued to save during the market decline of 2008 and 2009 now have much larger account balances than investors who stopped saving or pulled their money out of the stock market, according to a new Fidelity Investments study.
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Average Retirement Age Grows
Tweet Share on Facebook August 17, 2011 Comment (2)Workers are now retiring at older ages because the incentives to retire have changed. Since the mid-1990s, the average retirement age has risen from 62 to 64 for men and from 60 to 62 for women, according to a new Center for Retirement Research at Boston College analysis of Census Bureau data. The trend toward later retirement has been driven by declines in traditional pensions and retiree health benefits offered by employers, changes in the way Social Security benefits are calculated, better education and health, and less strenuous jobs that people are able to perform at older ages.
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Traditional Pensions Hit Record Low
Tweet Share on Facebook August 12, 2011 CommentThe number of large companies offering traditional pension plans hit a record low this year. Only 13 Fortune 100 companies sponsor a traditional pension plan open to newly hired workers, down from 17 in 2010 and 89 in 1985, according to a study by Towers Watson.
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Automatic Enrollment Hurts Retirement Saving
Tweet Share on Facebook August 9, 2011 Comment (2)Automatically enrolling new employees in the 401(k) plan generally gets more people to participate in the retirement plan. But it also leads to low contribution rates because the default saving rate is usually 3 percent or lower, according to several recent studies.
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6 Retirement Benefits in Decline
Tweet Share on Facebook August 3, 2011 Comment (2)Many workplace benefits have been cut since the economic downturn began and retirement benefits have been among the most commonly eliminated perks. The prevalence of traditional pensions, retiree health coverage, and even phased retirement programs have all declined since 2007, according to a Society for Human Resource Management survey of 600 human resources professionals. Here’s a look at which retirement benefits are rapidly disappearing.
