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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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.