Archive of: Retirement

Title Issue

Investor optimism declines

Overall investor optimism declined between February and May, as rising energy prices, budget deficits and persistent unemployment dampened sentiment, according to the Wells Fargo/Gallup Investor and Retirement Optimism Index.

The Optimism Index fell to 33 in May, down from 42 in February.

June 2011

People on the Move

David Smedick is the summer 2011 Thurston Energy Fellow. His project for the fellowship will be helping to determine the organization's direct impact on energy savings in Thurston County. Smedick is pursuing a master's degree in environmental management with a concentration in energy from Duke University's Nicholas School of the Environment. He received his Bachelor's degree in environmental studies from American University in Washington, D.C.

Brian Ditmore has joined NW Protective as business development manager. He has more than 30 years of experience in the building services industry, where he spent most of the time in the Seattle and Portland area. Ditmore is an active member of BOMA, IFMA and IREM.

May 2011

More U.S. workers delaying retirement

U.S. workers have been working longer and retiring later since the mid-1990s, but the recession has put even greater pressure on workers to stay on the job, according to a report by The Conference Board.

"Retirement rates declined significantly during and after the great recession," said Gad Levanon, associate director of macroeconomic research at The Conference Board, and author of "U.S. Workers Delaying Retirement: What Businesses Can Learn from the Trends of Who, Where and Why." "However, we see that delayed retirement has been more prevalent for some occupations and industries. For example, the health care industry experienced the largest decline in retirement rates in recent years. Jobs in this field are also in great demand. On the other hand, there was almost no retirement delay among government workers, who are more likely to receive defined benefit pension plans."

May 2011

Corporate pension funded status falls as interest rates drop

The nation's 100 largest defined benefit pension plans experienced a $12 billion increase in the funded status deficit during April, boosting the total to $184 billion.

Milliman Inc.'s latest Pension Funding Index shows pension liabilities increase by $31 billion due to a drop in interest rates, overshadowing a $19 billion increase in assets.

May 2011

Financial services play major role in state economy

The financial services cluster in Washington generated $27 billion in gross revenue in 2010 and employed more than 131,000 workers with total wages of $7.5 billion, according to a study commissioned by enterpriseSeattle.

The Washington State Financial Services Cluster Study identified six subsectors, including accounting, banking, credit and lending, financial investing, insurance and public finance.

May 2011

Rising interest rates improve pension funding

The nation's 100 largest defined benefit pension plans experienced no asset growth during March but did see liabilities decrease by $16 billion on an increase in the discount rate, according to Milliman Inc.'s latest Pension Funding Index.

"Last month's neutral asset performance illustrates the liability-driven nature of the corporate pension funding deficit," said John Ehrhardt, co-author of the Milliman Pension Funding Study. "These pensions saw a healthy increase brought on almost entirely by rising interest rates."

April 2011

People on the Move

Bard Luippold has been named corporate finance manager of NoteWorld Servicing Center. He has worked for the company for two years, most recently as market research manager. Prior to joining NoteWorld, Bard held project management and market research positions with World Vision and Lehman Brothers.

Dale Richart has joined GCI Ad Agency as client liaison. He has worked for more than a decade in the printing industry and has experience in business and design.

March 2011

Nearly one-third of employers restoring matching contributions in 2011

Despite high unemployment rates, signs of economic recovery are surfacing according to the 7th annual Retirement Plan Survey, conducted by Grant Thornton LLP, Drinker Biddle & Reath LLP and Plan Sponsor Advisors LLC.

After significant cutbacks in employer matching contributions during the past few years, 30 percent are planning to reinstate previously eliminated or reduced matching contributions to retirement plans during 2011. Forty-two percent do not have plans to reinstate their match this year. 

March 2011

Financial advisers expecting double-digit revenue growth in 2011

A majority of financial advisers are expecting their businesses to grow in 2011, according to the latest Financial Professional Outlook quarterly survey conducted by Russell Investments.
Of the more than 800 advisors surveyed, nearly a third (31 percent) predict revenue growth of 10 percent to 14 percent during 2011 and almost half (44 percent) indicated that they expect to see revenue growth of 15 percent or more.

March 2011

People on the Move

Scott A. Shelton has been named to the LPL Financial Chairman's Club. The distinction is awarded to less than 2 percent of the firm's 12,000 advisers nationwide. Shelton, who is managing partner and an independent financial adviser at Westgate Capital Consultants LLC, has received the award for 11 consecutive years.

Liz O'Brien-Yang has joined Umpqua Bank as vice president and relationship manager for the commercial banking division. O'Brien-Yang has more than 20 years of experience in commercial banking, revolving credit lines and term loan financing. Most recently she was vice president and portfolio manager of U.S. Bank's commercial banking group.

March 2011
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