The Indiana Business Research Center attributes the predicted slowdown during the next 30 years to an increasing number of baby boomers entering retirement and a cresting of the decades-long rise in female labor force participation.
Ellen Annala has less than a year to lead United Way of Central Indiana through a multimillion-dollar fundraising campaign and launch a five-year strategy. At the same time, the not-for-profit’s board has its own challenge: finding someone to take over when Annala retires April 1.
The Indiana Public Retirement System has cut its assumed rate of return from 7 percent to 6.75 percent, becoming the first large pension system in the country to go below 7 percent.
Plan sponsors will face both higher expectations and legal responsibilities.
A record number made hardship withdrawals in the second quarter, and the number of of workers who borrowed from their accounts reached a 10-year high, according to Fidelity Investments.
For four decades, Jim Ashby worked as a manufacturing floor manager, first for General Motors Corp., then, after a buyout,
for an Ingersoll Rand subsidiary. He likes to relax and fish, but Ashby considers himself too energetic for retirement. He’s
now 67 years old. And a first-time entrepreneur.
In order to comply with stricter rules from the Internal Revenue Service, schools and other not-for-profits are making changes
and consolidations to retirement plans, creating growth opportunities for companies like Indianapolis-based American United
Life Insurance Co.