Financial Wellbeing
Workers Rank Health Care as the Most Critical Issue in the United States
Workers rank health care as the most critical issue in the nation, according to new research from EBRI. The survey also finds that a majority of workers describe the health care system as poor or fair, though workers’ satisfaction in their own health plans remains high. Rising health care costs have implications for financial wellbeing among workers. Of the one-half of workers reporting cost increases, 26 percent state they have decreased their contributions to retirement plans, and 43 percent have decreased their contributions to other savings. The survey was made possible with funding support from the following organizations: AXA Equitable Financial Services, LLC, Cigna, Mercer LLC, Prudential Financial Inc., The Segal Group, Inc., and Unum Group.
Individual Retirement Account Balances, Contributions, Withdrawals, and Asset Allocation Longitudinal Results 2010–2015
Using the EBRI IRA Database, this Issue Brief examines the trends in account balances, contributions, withdrawals, and asset allocation in IRAs from 2010-2015. Results from both the annual cross-sectional samples and a consistent sample of IRA owners who have been in the database in each year from 2010-2015 are presented. The cross-sectional overall average balance increased 36.1 percent from 2010 to 2015, while the increase for those IRA owners who continuously owned IRAs from 2010-2015 was 47.1 percent. Similarly, the cross-sectional share of assets allocated to equities increased from 45.7 percent in 2010 to 54.7 percent in 2015, while among consistent account owners, the share of assets allocated to equities increased from 44.5 percent in 2010 to 52.6 percent in 2015. Finally, among consistent Traditional IRA owners, 87.2 percent did not contribute to the IRA in any year, as opposed to 60.1 percent of consistent Roth IRA owners not contributing in any year.
Trends in Health Savings Account Balances, Contributions, Distributions, and Investments, 2011-2016: Statistics from the EBRI HSA Database
The first-ever analysis of how health savings accounts (HSAs) are being used over time shows that most account owners use them more as specialized checking accounts rather than investment vehicles, according to new research by EBRI.
Importance of Individual Account Retirement Plans and Home Equity in Family Total Wealth
Home equity and retirement accounts—401(k)-type plans and IRAs—account for nearly all the assets that many families have to depend on in retirement outside of Social Security and traditional pension plans, according to new research from EBRI. Press release.
Geographic Variation in Spending Among Older American Households
Most discussion about retirement preparation revolves around national averages, but a lot could actually depend on where you live in retirement. A new study by EBRI finds large variations in spending by older households across the country. Press release.
The Impact of an HSA-Eligible Health Plan on Health Care Services Use and Spending by Worker Income
Low-income workers who switch to high-deductible health savings accounts (HSAs) plans are more likely than their higher-paid colleagues to avoid certain types of health care, according to new research by EBRI.
Change in Household Spending After Retirement: Results from a Longitudinal Sample
On average, households spend less once they retire—but not all households, and not in the same ways. New research from EBRI finds that while average spending in retirement falls in the first two years in retirement, nearly half of retired households actually spent more than they did just before retirement. That declines over time.
Intra-Family Cash Transfers in Older American Households
When family members help each other out--especially with the Baby Boom generation rapidly entering retirement--which way does the money flow: From old to young, or the other way around? New research from EBRI finds that, overwhelmingly, the generational transfer of money flows downhill: Mostly it’s older family members helping out their younger adult relatives than the other way around.
“A Look at the End-of-Life Financial Situation in America,” and “Measured Matters: The Use of 'Big Data' in Employee Benefits”
End-of-Life Finances: New research by EBRI shows that a large percentage of individuals who died recently had little or no assets. Those who died relatively younger were even more likely to be in this situation. Press release.
Big Data: Since “big data” is changing so many aspects of the business world, how is it affecting the way health and retirement benefits are provided to private-sector workers? At a recent policy forum sponsored by EBRI, several national experts described how employers and researchers are making a major commitment to capturing and analyzing the vast amount of health and retirement data in their benefits plans. Press release.
