Archive of: Retirement

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Pension funding deficit grows in November

The nation's 100 largest defined benefit pension plans experienced a $7 billion decline in market value and a $1 billion increase in pension liabilities during November, according to Milliman Inc.'s latest Pension Funding Index.

While declining assets drove the deficit growth, the 4.53 percent discount rate - the lowest in the 11-year history of this study - continues to be the big story.

December 2011

Financial advisers preparing clients for continued volatility

Many financial advisers are telling their clients to expect continued market volatility in 2012, according to Russell Investments' latest Financial Professional Outlook. When asked what they plan to tell clients in preparation for next year, 40 percent of the comments focused on expectations for continued volatility, followed by slow economic growth (15 percent of comments).

In the latest survey, 63 percent of advisers say that market volatility has been a primary topic of client-initiated conversations during the past three months. Moreover, as a result of recent volatility, 78 percent of advisers reported increased outbound communications (phone calls), while 52 percent are having more client meetings and 49 percent say they are receiving more inbound calls from clients.

December 2011

Military families losing confidence in ability to retire comfortably

The long-term financial confidence of military families is beginning to unravel, reflecting concerns over the economy and a proposed overhaul of the military retirement system.

The First Command Financial Behaviors Index reveals that just 37 percent of middle-class military families (senior NCOs and commissioned officers in pay grades E-6 and above with household incomes of at least $50,000) are extremely or very confident  that their financial situation will improve over the next year, down from 41 percent in the first quarter.

November 2011

People on the Move

Susan Warner has been named deputy director/curator of Museum of Glass. She joined the museum as director of education in February 2001.  In 2006, Warner was appointed director of public programs and in 2009 she was named deputy director.

Felix Peguero, an Edward Jones financial adviser in Lacey, has qualified for the firm's 2011 Leadership Diversity Forum. He is among 55 financial advisers of the firm's more than 12,000 who qualified.

November 2011

Despite the economy, employees continue to save

Financial Finesse today released findings from its 2011 third quarter research report on employee financial issues.

The report reinforced a trend seen early in 2010 with employees continuing to put more emphasis on retirement and long-term planning as they continue to weather a tough economy and sluggish job and real estate markets.

Some of the most significant findings from the report were:

October 2011

Declining interest rates fuel record growth in pension funding deficit

The nation's 100 largest defined benefit pension plans experienced a $31 billion investment loss and a $93 billion increase in pension liabilities during September, according to Milliman Inc.'s latest Pension Funding Index.

The massive increase in the funding deficit closes out a rough quarter for these pensions. Since June 30, the funded status deficit has grown by $252 billion, making the third quarter of calendar year 2011 the second worst in the history of the study. The only previous quarter in which pensions have performed so poorly was the fourth quarter of calendar year 2008, which spanned the financial crisis.

October 2011

Investment managers don't see double-dip

More than three quarters (79 percent) of investment managers say that they do not believe the U.S. economy is entering a double-dip recession, according to the latest Investment Manager Outlook quarterly survey conducted by Russell Investments.

When this subset of managers was asked what economic indicators support their position, 78 percent cited strong corporate balance sheets and high corporate profit levels, and nearly half (49 percent) also pointed to the U.S. Federal Reserve's decision to keep interest rates low until mid-2013.

September 2011

Most don't see home buy as best investment

For the fourth straight month, less than half of adults nationwide believe buying a home is the best possible investment for a family.

The latest Rasmussen Reports national telephone survey of American adults shows that just 48 percent believe buying a home is the best investment a family can make. Though that's up slightly from July's all-time low of 43 percent, it is well below findings dating back to 2008. Prior to June, this finding had ranged from a low of 51 percent to a high of 73 percent since September 2008. As recently as last September, 60 percent of respondents felt that way.

September 2011

Majority of workers not prepared for retirement

The overall state of U.S. employees' retirement preparedness remains low despite a positive trend in employees improving their finances and putting heavier emphasis on retirement planning, according to a report from Financial Finesse.

The report found that most employees have never run a retirement projection despite their income or age.

September 2011

Corporate pension funded status drops for 2nd consecutive month

The nation's largest 100 defined benefit pension plans experienced a $29 billion investment loss and a $33 billion increase in pension liabilities during August, according to Milliman Inc.'s latest Pension Funding Index.

The increase in the pension funded deficit comes on the heels of an even larger increase in July. The combined $128 billion growth in the deficit between June 30 and Aug. 31 is the largest two-month increase since a $134 billion increase in May and June 2010.

September 2011
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