John Sullivan

Almost 70% of near-retirees either failed or barely passed MassMutual’s latest Social Security retirement benefits quiz. Over one-third failed (35%), and another one-third received a D (34%).   More than a quarter of near-retiree respondents did not know that if they have a spouse, the other spouse... READ MORE

Only 28% of businesses with less than 10 employees offer retirement plans, and only 51% of businesses with 10-24 employees offer them. New research from Capital Group found that many business owners may not be offering a plan due to misperceptions around cost and company size requirements,... READ MORE

A new report finds a decline in retirement confidence to levels not seen since the 2008 financial crisis. The report, from the Employee Benefit Research Institute (EBRI), also finds both employees and retirees are very concerned about inflation and its impact on their savings and spending.... READ MORE

The National Council on Aging (NCOA) and UMass Boston find that 80% of older Americans, or 47 million people, can’t sustain a financial shock such as needing to pay for long-term care services and supports (LTSS) or the loss of income due to divorce or widowhood. “It is unacceptable that nearly... READ MORE

A bill to establish the Minnesota Secure Choice Retirement Program (HF 782), a state-sponsored auto-IRA, passed through the Ways and Means Committee in the Minnesota House on Monday with the bill’s author praising “nerdy group” American Retirement Association (ARA) for its help and support. Rep.... READ MORE

Vermont is the latest state to push for a mandatory auto-IRA for uncovered workers and is close to getting its wish. The Green Mountain State’s Senate swiftly and unanimously passed the VTSaves public retirement initiative on Thursday, which was introduced with the support of AARP in March.   ... READ MORE

Will Hansen, Chief Government Affairs Officer for the American Retirement Association, details to John Sullivan what’s going on in Washington. Could the 401(k) system move from the private sector to Treasury? How do provisions in SECURE 2.0 help Americans? Hansen also details what ARA is doing to... READ MORE

In a move to encourage choice in retirement saving, President Biden vetoed a measure on March 20 that the administration says would block plan fiduciaries from freely considering the best interest of workers and savers in retirement plan investment offerings.   The veto, the Administration’s first... READ MORE

Financial literacy, financial wellness, and now …longevity literacy. It’s the latest phrase in the fight to raise awareness of — and preparation for — later-in-life issues, financial, medical, and otherwise, and an idea the TIAA Institute hit upon during its research. “When we think about... READ MORE