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Retirement

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Mutual Funds Increasingly on Personal Finance Press Radar

Latest stories warn investors against absolute-return funds, hidden 401(k) fees, hardship withdrawals.

The Hartford Raises Mid-Market Plan Profile

Following three key acquisitions in 2008 to target mid-market retirement savings plans, the insurance giant has hired Denise Diana from Transamerica.

Target Date Funds to SEC: Yes on More Disclosure, No on Changing Names

Investment funds, lawmakers and other fund experts say that target-date funds need to increase the amount of information they provide investors to understand their investment risk. But they don’t want the Securities and Exchange Commission to change the way the funds are named.

BlackRock Argues Against Adding Asset Allocations to Target-Date Fund Name

In a letter to the SEC, investment management firm says it does support enhanced disclosure.

Americans of All Ages View Social Security as Safety Net: AARP

75% oppose cutting Social Security to reduce the deficit as the government program celebrates its 75th anniversary.

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Articles

Boomers View Simple Luxuries as Basic Needs

Americans of All Ages View Social Security as Safety Net

Retirement Self-Starters: Extending Automatic IRAs to America's Unprepared

WASHINGTON -- The Retirement Savings Project, a leading policy research group backed by The Brookings Institution, The Heritage Foundation and Georgetown University, and affiliated with FINRA and the AARP, is advocating new approaches for defined contribution plans, Social Security and tax policies to insure Americans' retirement future. David C. John, deputy director of The Retirement Security Project and a frequent Congressional witness, sat down with Money Management Executive Editor Lee Barney to discuss new laws and regulations that will reshape 401(k) plans and offer new challenges and opportunities for the mutual fund industry-most notably reaching the 78 million Americans who have no workplace retirement savings at all.

Retirement Confidence Belies Vast Unpreparedness

American workers are feeling more confident about being able to retire than they were last year, but their expectation to stay in the workforce longer to make up for a savings shortfall and the fact that 54% of the population has less than $25,000 saved has retirement experts extremely worried. "The idea that you can continue on working longer is really a pretty risky proposition," said Daniel Houston, president of retirement, insurance and financial services at The Principal. "Half the time, people retire before age 65, whether it's due to their health, their spouse's health or that they find their skills are no longer needed."

GLBs Buoy VA Sales, But for How Long?

While sales of variable annuities declined 18% to $127 billion last year, guaranteed living benefits remained popular, with 84% of policyholders electing to buy those riders in the fourth quarter, according to LIMRA. Jafor Iqbal, an associate managing director at LIMRA Retirement Research, said GLBs' continued popularity is in spite of the fact that insurers spent much of the year raising costs and paring back benefits on the variable annuities, the assets of many are underwater compared to their guarantees.

Fear of Investment Losses Could Take Serious Toll on Retirement

AXA Equitable uncovered a dismal outlook for the economy and retirement in "Retirement in America: A Survey of Concerns and Expectations," in which it polled both investors and economists and found a large percentage of both groups bearish on the economy and the stock and bond markets. Twenty-four percent of consumers and 12% of economists believe the economy will continue to be volatile with no clear pattern of improvement. Eleven percent of consumers and 16% of economists believe the nation could sink back into a recession.

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