A surge in baby boomers nearing 65—about 4 million Americans turn 65 this year—means more people are making tough decisions about retirement. That surge is expected to continue through 2027.
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Indianapolis-based OneAmerica Financial Inc.—the city’s largest private company—has agreed to sell its full-service retirement plan business to New York City-based Voya Financial Inc., the companies announced Wednesday.
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The plan is a victory for Wall Street, which has lobbied for wider access to such products.
Worries about the volatility of digital currencies and a plan-sponsor’s duty to protect its participants are among the concerns experts see, even as state and federal officials work to improve access.
A Senate panel also considered raising monthly pension benefits for retired police and firefighters—along with contribution rates for local government employers.
As of October, about 3,700 INPRS members were eligible to request their earned retirement benefits, with median monthly payments ranging from $545.50 to $783.50.
While the cost-of-living increase is in line with overall inflation for the year, it trails categories that are particularly relevant to older adults.
Trump and other Republicans have said they will not cut Social Security benefits, yet the program remains far from the sound economic system that FDR envisioned 90 years ago.
Monthly checks for some 72.5 million Americans receiving retirement or disability benefits will see a smaller adjustment than what they received this year after a further slowdown in inflation.
Increasingly, benefits brokers and personal-finance experts are advising people use cash to pay for health care and investing the HSA funds for decades.
Indiana should move from ad hoc public retirement benefit increases to a long-term approach that guarantees former public employees a 13th check or cost of living adjustment, or COLA, annually, an interim committee recommended Tuesday.
The cost-of living adjustment—the largest in more than 40 years—means the average recipient will receive more than $140 extra a month beginning in January, the Social Security Administration said Thursday.
An estimated 20,000 Delphi workers, including more than 4,000 in Indiana, were hurt by the 2009 GM bankruptcy, and many have spent the past 13 years fighting to get back what they lost.
The recent crypto meltdown has prompted a larger question: For pension funds that ensure teachers, firefighters, police and other public workers receive benefits in retirement after public service, is any amount of crypto investment too risky?
The largest concentrations of affected Delphi retirees are in Michigan (5,859), Ohio (5,181) and Indiana (4,044).
The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic.
The cost-of-living adjustment, or COLA, affects the personal finances of about 1 in 5 Americans, including Social Security recipients, disabled veterans and federal retirees, about 70 million people.
Nyhart has agreed to be acquired by Dresher, Pennsylvania-based Ascensus, the nation’s largest independent provider of retirement and college savings services.
The U.S. Supreme Court agreed to consider giving workers who participate in pension plans more ability to sue when they believe the money is being mismanaged.
Almost all American retirees claim Social Security at the wrong time, a new report estimates, which means they will miss out on a collective $3.4 trillion in benefits before they die.
The U.S. Supreme Court agreed to use an appeal by Intel Corp. to consider tightening the deadlines for lawsuits over the investments made by worker retirement plans.
The surging stock market, which has more than quadrupled since early 2009, has helped increase the value of 401(k) and Individual Retirement Accounts.
