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Data & Research November 15, 2019
Data Mine—November 2019
The retirement plan industry is flush with data points and analyses. In this November 2019 edition of Data Mine, we have dug out the most useful findings from a range of published works.
Reported by John Manganaro
Art by Jennifer Xiao
Survey
2019 Wells Fargo Retirement Study
Published by Wells Fargo
Key Findings
- One in Three workers have personally saved less than $25,000 for retirement
- 13% have saved between $25,000 and $100,000
- 11% have saved between $100,000 and $250,000
- Half of workers have saved less than $250,000
Full survey available here.
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Survey
Investment Perspectives: Reduced Recession Risk
Published by Northern Trust Asset Management
Key Findings
The short-term drivers of market performance are not always clear, but an improving outlook toward economic growth seems to be a clear contributor to the recent rally in equities. At the same time, a rapidly slowing manufacturing sector has raised concerns over the outlook for global growth, which have also been reflected in a flat yield curve.
Full survey available here.
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Survey
2019 403(b) Provider Survey
Published by PLANSPONSOR Magazine
Key Findings
Investment lineups are changing as more contemporary investment options like mutual funds and other institutional investments displace the annuity contracts on which the industry was built. All of this change has fueled recent improvements in processes, systems and technology that have helped to modernize the plan sponsor and participant experience.
Full survey available here.
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Survey
Health and Retirement Survey
Published by the Employee Benefit Research Institute (EBRI)
Key Findings
The average household expenses for those 50-64 were $55,000 in 2005. In that same year, they were $43,000 for those 65-75, which was 22% less. For those ages 75 and older, total household expenses were $33,000, or 23% less than the 65-74 age cohort and 40% less than the 50-64 cohort. This pattern was consistent across all survey years.
Full survey available here.
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- Myths and Realities About Spending in Retirement
- Why Are Retirees Spending DC Plan Assets So Slowly?
- Annuities Are Potential More Useful Today Than Ever
Survey
19 Facts About Women’s Retirement Outlook
Published by Transamerica Center for Retirement Studies
Key Findings
- 12% of women say they are “very” confident that they will be able to fully retire with a comfortable lifestyle
- 55% of women expect to retire after age 65 or do not plan to retire
- 84% of women who reported that they planned to work beyond 65 cited financial reasons
- 56% of women reported taking key steps to protecting their long-term health, including eating healthfully, exercising regularly and seeking medical attention promptly
- $23,000 – the median household retirement savings reported in the survey
Full survey available here.
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Data Mine – September 2019
Data Mine – October 2019