We
offer these notes about pension and retirement planning to
you as a resource.
RETIREMENT PLAN DEVELOPMENTS
NEWSLETTER: September 2010
 Baby Boomers Willing to Delay Gratification Now for a Better Lifestyle in Their Golden Years
The quest for “the good life” continues to drive Baby Boomers to sacrifice today, so that they can enjoy the finer things tomorrow. According to a recent study conducted by Harris Interactive, 76 percent of the Baby Boomers surveyed say they are willing to spend less now to invest for a more comfortable lifestyle in the future.
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Target-Date Funds: Participants Are Younger, Have Lower Account Balances
Target-date funds are designed to make it easier for Americans to save for retirement by providing simplicity for investors. The use of target-date funds, a relatively new 401(k) plan option, is more likely among participants who are younger, have lower account balances, and have shorter tenure at their current job, according to a study. While their growth has been rapid in 401(k) plans in recent years, TDFs are still relatively new for most participants.
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Loans and Hardship Withdrawals on the Rise
New data shows an increase in the use of loans and hardship withdrawals by participants. The average age of those taking a loan or hardship withdrawal is between 35 and 55 years old – a worker’s peak earning years – when individuals often have to deal with multiple financial challenges.
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