Target date fund

NEPC Survey Shows “Retirement Crisis” Is Real, But Resolvable

Retrieved on: 
Tuesday, March 5, 2024
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Respondents to the 2023 survey include 128 clients representing $259 billion in aggregate assets and 2.6 million plan participants.

Key Points: 
  • Respondents to the 2023 survey include 128 clients representing $259 billion in aggregate assets and 2.6 million plan participants.
  • The survey also highlights:
    An older contingency of plan participants than previously imagined, with 53% of participants over the age of 65 contributing to a TDF.
  • Close to 30% of plans have less than 10 core options, and that group is growing since TDFs represent 47% of plan assets.
  • Those interested in hearing how DC consultants are advising plans to address emerging opportunities can register for the webinar here .

Ascensus Announces Spring 2024 Launch of Ascensus | American Funds PEP Solution

Retrieved on: 
Wednesday, October 4, 2023
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DRESHER, Pa., Oct. 4, 2023 /PRNewswire/ -- Ascensus, whose technology and expertise help millions save for a better future, said it will begin offering the Ascensus | American Funds Pooled Employer Plan (PEP) solution on its independent, open-architecture recordkeeping platform beginning in spring 2024.

Key Points: 
  • DRESHER, Pa., Oct. 4, 2023 /PRNewswire/ -- Ascensus , whose technology and expertise help millions save for a better future, said it will begin offering the Ascensus | American Funds Pooled Employer Plan (PEP) solution on its independent, open-architecture recordkeeping platform beginning in spring 2024.
  • "We're delighted to partner with Capital Group, home of American Funds, to offer the significant benefits and flexibility our PEP program provides," said Jason Crane, head of Distribution for Ascensus Retirement.
  • American Funds' investment experience and Ascensus' award-winning service are a powerful combination—and all focused on driving better outcomes for partners, clients, and savers."
  • Crane said Ascensus will be the first provider to offer American Funds Target Date Plus.

NEPC Survey Shows Defined Contribution Plans Challenged by Booming Retirement Income Market, TDF Scrutiny

Retrieved on: 
Tuesday, March 7, 2023
Consulting, Professional Services, Finance, Consultant, Principal, Retirement, TDF, Growth, Hearing, ESG, Target date fund, DC, Financial adviser, Life insurance, NEPC, TDF Group

However, the survey also points to two major challenges for plan sponsors:

Key Points: 
  • However, the survey also points to two major challenges for plan sponsors:
    There is still no consistency or real industry consensus on how to create meaningful retirement income solutions in pooled employer plans.
  • A concurrent poll of NEPC consultants shows that retirement income solution selection is a pain point for many defined contribution clients.
  • As the dedicated retirement income solution market has boomed over the past several years, many plan sponsors have struggled to evaluate their options strategically.
  • Those interested in hearing how DC consultants are advising plans to address emerging opportunities can register for the webinar here .

J.P. Morgan Asset Management Releases 2023 Guide to Retirement

Retrieved on: 
Monday, March 6, 2023
Employee Benefit Research Institute, Target date fund, Market, Research, Act, EBRI, JPMorgan Chase, Private sector, Policy, DC, Capital market, Financial adviser, Retirement

NEW YORK, March 6, 2023 /PRNewswire/ -- J.P. Morgan Asset Management today released the 11th edition of its annual Guide to Retirement, analyzing the most significant issues impacting retirement to help advisors and their clients, and DC plan participants make informed planning decisions and take positive actions to achieve a comfortable retirement.

Key Points: 
  • NEW YORK, March 6, 2023 /PRNewswire/ -- J.P. Morgan Asset Management today released the 11th edition of its annual Guide to Retirement , analyzing the most significant issues impacting retirement to help advisors and their clients, and DC plan participants make informed planning decisions and take positive actions to achieve a comfortable retirement.
  • said Michael Conrath, Chief Retirement Strategist, J.P. Morgan Asset Management.
  • "Our 2023 Guide to Retirement has been designed to help advisors navigate the evolving economic environment, take advantage of recent legislative changes, and provide long-term investing strategies to drive stronger retirement outcomes for clients."
  • To view the full 2023 Guide to Retirement, click here .

DBRS Morningstar: Italian Banks Higher Net Interest Income To Offset Risks From Weaker Economic Prospects

Retrieved on: 
Monday, December 12, 2022
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We see the upward trend in net interest income as a lever for Italian banks to absorb increased risks due to an expected deterioration in economic prospects in 2023, said Andrea Costanzo, Vice President from the DBRS Morningstar Global Financial Institutions team.

Key Points: 
  • We see the upward trend in net interest income as a lever for Italian banks to absorb increased risks due to an expected deterioration in economic prospects in 2023, said Andrea Costanzo, Vice President from the DBRS Morningstar Global Financial Institutions team.
  • For more information on regulatory registrations, recognitions and approvals of the DBRS Morningstar group of companies, please see: https:// www.dbrsmorningstar.com/research/highlights.pdf .
  • The DBRS Morningstar group of companies are wholly-owned subsidiaries of Morningstar, Inc. 2022 DBRS Morningstar.
  • The information upon which DBRS Morningstar ratings and other types of credit opinions and reports are based is obtained by DBRS Morningstar from sources DBRS Morningstar believes to be reliable.

Fidelity® Q3 2022 Retirement Analysis: Despite Continued Volatility, Retirement Fundamentals Remain Sound

Retrieved on: 
Thursday, November 17, 2022
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“The market has taken some dramatic turns this year, including the best month this past October since 1976,” said Kevin Barry, president of Workplace Investing at Fidelity Investments. “Retirement savers have wisely chosen to avoid the drama and continue making smart choices for the long-term. This is important, because one of the most essential aspects of a sound retirement savings strategy is contributing enough consistently – in up markets, down markets, and sideways markets -- to help reach your goals.”

Key Points: 
  • The total number of Fidelity IRA accounts continues to climb, reaching 13.2 million, an 11.2% increase over Q3 of last year.
  • The number of accounts reporting a contribution also increased by 2.3% year-to-date between Q3 2021 and Q3 2022.
  • Across generations, Roths tend to be the retail retirement savings vehicle of choice, with 61% of all contributions going to a Roth in Q3 2022.
  • Despite inflationary pressures, the percentage of 401(k) savers initiating a new loan continues to remain low, with only 2.4% of participants doing so in Q3.

Fidelity® Q2 2022 Retirement Analysis: Even With Market & Economic Uncertainty, Retirement Savers Look Long Term and Continue to Save

Retrieved on: 
Wednesday, August 17, 2022
Professional Services, Consumer, Millennials, Finance, Generation Z, Banking, Well, Woman, Man, Gen, Risk, Part, Fidelity Investments, Fidelity, Ipsos, Target date fund, Growth, Investment, HSA, Pew Research Center, Retirement, Global, Uncertainty, IRA, S&P, Time, Pew, Generation Z, AUA, Renewable energy, Life insurance, Bank, Financial adviser, Online gambling, Millennials, Q2

And the reality? Fidelity Investments, one of the country’s leading workplace benefits providers3 and America’s No. 1 IRA provider4, today released its Q2 2022 analysis of savings behaviors and account balances for more than 35 million IRA, 401(k), and 403(b) retirement accounts, and although average account balances have decreased -- not surprising, given the stock market’s decline in Q2 -- there was also good news to be found. The drop in average balances was below the S&P's decline of 16.1% for Q2 2022 and below Q1 2020, the last period with significant market volatility. In addition, retirement savers continue to look long-term, as total 401(k) savings rates still hovered at record levels, the number of IRAs on Fidelity’s platform continued to increase and the percentage of employees with 401(k) loans remained low for the fifth consecutive quarter.

Key Points: 
  • As of Q2, 85% of Gen Z savers have all of their 401(k) savings in a target date fund.
  • The total number of Fidelity IRA accounts continues to climb, reaching 12.8 million, a 10.6% increase over Q2 of last year.
  • Despite the market volatility of the past two quarters, 401(k) plans continue to see steady contributions from both individuals and their employers.
  • 8 Based on Fidelity analysis of 10,260 Tax-exempt plans and 7.6 million plan participants as of June 30, 2022.

Fidelity® Q1 2022 Retirement Analysis: Retirement Savers 'Stay the Course' Despite Market Volatility

Retrieved on: 
Thursday, May 19, 2022
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Despite the market volatility in Q1, 401(k) plans continued to see steady contributions from both individuals and their employers.

Key Points: 
  • Despite the market volatility in Q1, 401(k) plans continued to see steady contributions from both individuals and their employers.
  • Of the 401(k) savers that made a change to their allocation in the quarter, 82% only made one change.
  • Among 403(b) savers that made a change to their allocation in the first quarter, 87% only made one change.
  • 7 Based on Fidelity analysis of 10,300 Tax-exempt plans and 7.5 million plan participants as of March 31, 2022.

Empower Examines Savings Behavior of Government Workers Revealing Compelling Insights

Retrieved on: 
Thursday, May 5, 2022
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Government employees saving in Empowers workplace retirement plans steadily increased savings rates during the pandemic compared to two years ago and more government employees contributed to those plans.

Key Points: 
  • Government employees saving in Empowers workplace retirement plans steadily increased savings rates during the pandemic compared to two years ago and more government employees contributed to those plans.
  • An analysis of the savings behavior of 1.55 million active state and local defined contribution (DC) participants with Empower as the recordkeeper provides a comprehensive view of state and local government employees DC savings behavior and retirement preparedness.
  • Its critical that both state and local government workers understand their future expected retirement income as their pension plans may not fully meet their needs in retirement.
  • The Empower analysis Empowering Americas Financial Journey, explores how this segment of American workers are:
    Remaining resilient during the pandemic and uncertain economic conditions.

Annexus Retirement Solutions Announces Solution with State Street Global Advisors Aimed to Help Solve America's Retirement Income Crisis

Retrieved on: 
Thursday, March 31, 2022
Guaranteed, Risk, Retirement, Blackstone, FIA, Target date fund, Multimedia, ESG, Research, DC, Insurance, SPDR, Solution, Communication, ETF, ARS, View, LLC, State Street Corporation, Industry, Goal, TDF, Investment, SSGA, Index, State Street Global Advisors, Income, FIAS, FDIC, Financial adviser, Life insurance, Health insurance, Risk management

SCOTTSDALE, Ariz., March 31, 2022 /PRNewswire/ -- Retirement income solution innovator Annexus Retirement Solutions announced today that it has joined forces with State Street Global Advisors, the world's 4th largest asset manager1, to help develop a target date fund (TDF) with an embedded income solution for the defined contribution (DC) plan marketplace. This will become the second TDF income solution on the market that leverages the Annexus Retirement Solutions patent-pending Lifetime Income Builder design, which has successfully redefined how the industry can deliver in-plan lifetime income solutions in a TDF.

Key Points: 
  • We're excited about the opportunity to work with State Street Global Advisors to bring the second target date series with Lifetime Income Builder to market.
  • Annexus Retirement Solutions is providing its Lifetime Income Builder product and the Annexus Retirement Data Exchange (ARDX), a proprietary middleware solution that streamlines data communication and administration.
  • The Lifetime Income Builder feature is not provided by or guaranteed by State Street Global Advisors or any affiliate of State Street Global Advisors.
  • Annexus Retirement Solutions is not affiliated with State Street Global Advisors Funds Distributors, LLC.