Retirement

With the United States facing an estimated national retirement savings shortfall of $4.13 trillion, how can more Americans be brought into a retirement savings plan, and how can they be persuaded to save enough to cover expected costs in retirement? Those questions were explored by a panel of retirement experts at EBRI’s 77th policy forum held Dec. 10, 2015, focusing on policy proposals aimed at increasing private-sector retirement plan coverage and possible improvements to retirement plan designs by sponsors of retirement plans. Press release. EBRI Notes Apr 27, 2016 16 pages

Recent data show that, across the board, fewer American retirees say they are “very satisfied” with their retirements, while a growing number of retirees report that they are “not at all satisfied” with their retirements. Press release. EBRI Notes Apr 26, 2016 16 pages

While overall confidence about being able to afford a comfortable retirement has plateaued among American workers, preparations to save for retirement are still lagging, according to the 2016 Retirement Confidence Survey (RCS) by EBRI and Greenwald & Associates. EBRI Issue Brief Mar 22, 2016 40 pages

CPS: Estimates from the new and redesigned Current Population Survey (CPS) by the U.S. Census Bureau show a drop in the percentage of Americans who participate in a workplace retirement plan. However, the results raise doubts about the use of CPS data to assess current and future retirement plan coverage policies, according to a new analysis by EBRI. Press release.

Generational Views of Benefits: Compared to their older cohorts, Millennial workers are less interested and knowledgeable about their work place benefits, and prefer life insurance over health insurance, according to a new analysis by EBRI. Press release.

EBRI Notes Dec 17, 2015 28 pages

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. EBRI Issue Brief Nov 19, 2015 20 pages

Benefits Survey: More than three-quarters of American workers say their workplace benefits package is important to their decision to take or reject a job, according to new research by EBRI and Greenwald & Associates. Press release.

DC Benefits: Private-sector retirement benefits have long been dominated by “defined contribution” plans funded primarily by workers’ own contributions. Private-sector health benefits are still funded primarily by employers, but that may be starting to change with the advent of “defined contribution” health plans. This has major implications for the American work force, the U.S. health care system, and even economic security in the nation, which were explored at EBRI’s 76th policy forum held in Washington this spring. Press release.

EBRI Notes Nov 18, 2015 28 pages

Retiree health savings: Projected savings targets needed to cover health care in retirement are going up again after several years of decline, according to new research by EBRI. This follows more recent declines during 2012-2014. Press release.

DB-DC: Does a traditional “defined benefit” pension provide greater retirement security than a “defined contribution” 401(k)-type plan? The complicated answer to that simple question depends on your salary level and the level of pre-retirement income to be replaced, according to a new analysis by EBRI. Press release.

EBRI Notes Oct 22, 2015 24 pages

WBS: Significantly fewer workers say they experienced health care cost increases in 2015 compared with previous years, according to new research by EBRI. Press release.

IRAs: Owners of individual retirement accounts (IRAs) significantly increased their investment allocations to stock equities in 2013 compared with the two previous years, according to new analysis by EBRI. Press release.

EBRI Notes Sep 17, 2015 28 pages

The average 401(k) account balance of workers who participated consistently in a 401(k) plan from year-end 2007 to year-end 2013 increased significantly between 2012 and 2013, according to an updated annual study by the Employee Benefit Research Institute (EBRI) and the Investment Company Institute (ICI). EBRI Issue Brief Sep 15, 2015 28 pages

HSA Investment Options: Investment options in health savings accounts (HSAs) are a fairly new and not widely used option, but they tend to draw larger contributions and have higher balances where they do exist, according to a new analysis by EBRI. Press release.

Longevity Annuity Contracts: A recently authorized feature for 401(k) plans would allow workers to transform all or part of their retirement savings into a guaranteed stream of lifetime income, similar to what traditional pensions can provide. New modeling from EBRI finds this feature would be a significant help as a way to reduce their “longevity risk”—the risk of outliving their retirement savings—but only to those workers who can expect to have a long retirement. Press release.

EBRI Notes Aug 26, 2015 24 pages