The alarming pay gap between newly drafted basketball players in the WNBA and the NBA provides an opportunity to examine the negative impact of low compensation on building retirement savings.
Reacting to cases citing the ‘inappropriateness’ of certain investments, many large plan sponsors have eliminated volatile asset classes from their menus.
As increasingly more public sector workers rely on defined contribution plans for their retirement savings, many are struggling to grow their balances, research from EBRI and NAGDCA shows.
The research demonstrates that public-sector workers tend to feel safer spending more when they have a defined benefit retirement plan as their primary retirement account.
Women are more likely to invest in environmental, social, and governance funds in their defined contribution plans than men, according to a new issue brief.
PSCA: 403(b) plans ahead of 401(k)s on ESG, retirement income investmentnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentnews.com Daily Mail and Mail on Sunday newspapers.
The pandemic and new data are highlighting the need for more financial wellness help, as well as assistance with asset allocation and retirement income.
Public Sector Gen X Workers Face More Outstanding Retirement Plan Loans
Likely feeling the same financial squeeze as their private sector counterparts, the new Public Retirement Research Lab also found they are contributing less to retirement savings.
Reported by
Public sector Generation X workers have taken more retirement plan loans than any other age group, according to a recent survey by the Public Retirement Research Lab (PRRL) that measured data in public sector defined contribution (DC) plans.
The survey, which was made in collaboration with the Employee Benefit Research Institute (EBRI) and the National Association of Government Defined Contribution Administrators (NAGDCA), was discussed during a webinar hosted by the PRRL. Jack VanDerhei, research director at EBRI, said the organizations reviewed plans based on age, tenure and plan type, which included 213 457(b), 401(a), 403(b), 401(k) and other public DC plans of state, county, city and subdivision government employees.