Uncle Sam Bolsters Support of State-Sponsored Retirement Plans

The U.S. Department of Labor is paving the way for states to sponsor retirement plans for millions of private-sector workers who don’t have such programs on the job. About 68 million U.S. workers don’t have access to a 401(k) or similar workplace account, according to the Labor Department, even though studies show that employees are more likely to save for retirement if their employer offers a savings plan. More than half of the 50 states are either developing retirement savings …

Trends Favor Hiring Older Workers

Workers 50 and older face a hurdle that younger peers don’t: how to overcome negative stereotypes that paint them as much more expensive, out of touch with technology and less productive. An AARP report released Monday dispels these myths. The report, “A Business Case for Workers Age 50+: A Look at the Value of Experience 2015,” was conducted by Aon Hewitt and based primarily on data from large employers. A similar report, which confirmed the value of older employees, was done …

What Will Retirement Look Like for Our Adult Children?

For decades, the three-legged stool was the metaphor for funding retirement: Social Security, pensions and savings/investments. Because of the recession and drop in pensions, the stool started to shake. That hasn’t escaped the notice of our adult children as they watch parents head into retirement. The upside of those watchful eyes is that many millennials have begun saving for their own retirement. At an unprecedented age of  22, some 70 percent of working millennials are socking money away, according to …

New U.K. Annuity Reforms Are a Step Too Far

After nearly a decade where the United Kingdom has been the gold standard for retirement savings policy, it is about to take a step that it may regret. The U.K. has a retirement savings system that will enable virtually all of its workers to supplement their state-paid pension with retirement savings. When it is fully phased in, they will have access to a low-cost, diversified savings platform that uses automatic enrollment to encourage participation. However, starting in April, the requirement …

Across the States: Fighting for You in 2015

This month, state legislatures throughout the nation are convening to mark the inauguration of new governors, state legislators and other state leaders. We will then begin to hear State of the State messages from governors that detail the challenges, opportunities and priorities they have defined for the year ahead. At AARP, we’ve also set our priorities for 2015 with a state advocacy agenda that highlights how we will continue to fight for you in every state, the District of Columbia, Puerto …

Those Pension Cuts and What You Need to Know

Congress recently carved a hole in a 40-year-old pension law that has prevented employers from cutting benefits earned by those already retired. This change applies to people covered under multiemployer plans that are in critical financial shape. Here’s what you need to know: What is a multiemployer plan? This is a pension covering workers and retirees from more than one employer in the same or related industries, such as trucking or construction. (Most of them were established under collective bargaining between …