Data & Research April 26, 2013

Most Gen Xers Own 401(k) Plans, MetLife Finds

Many Gen Xers are on the right track to reach retirement, according to a study from the MetLife Mature Market Institute.
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“The MetLife Study of Generation X: The MTV Generation Moves into Mid-Life” reports that two-thirds (66%) of the members of Generation X—born between 1965 and 1976—own 401(k) plans. And half (50%) are keeping up their retirement savings.

Although the study found that, on average, Gen X’ers own about four financial products, with those in higher income brackets more likely to own more, the majority are uncertain about their retirement prospects. Seventy percent are not confident that Social Security will be there to provide benefits when they retire. While most would like to retire at age 62, they expect they will have to continue working until at least age 67.

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The nationally representative survey was conducted by GfK Custom Research North America on behalf of the MetLife Mature Market Institute between November 29 and December 19. A total of 1,000 interviews were completed by phone with respondents born between 1965 and 1976.

Deals & People April 26, 2013

OGAM Welcomes Vice Chairman

Bradley D. Belt has been named vice chairman of the Orchard Global Capital Group, effective May 1.
Reported by

In his new position, Belt will advise Orchard Global Asset Management (OGAM)’s group management committee on strategic and operational matters, including product and relationship development, public affairs and regulatory policy issues. He will report to Paul Horvath, the firm’s chief executive.

Belt joins OGAM from Palisades Capital Management LLC, where he serves as chairman. He recently was senior managing director of the Milken Institute, and is a former executive director of the Pension Benefit Guaranty Corporation (PBGC). Previously, he was appointed to the Social Security Advisory Board and held senior staff positions in Congress as counsel to the Senate Banking Committee and at the Securities and Exchange Commission (SEC).

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OGAM pointed to Belt’s knowledge of financial markets, expertise in regulatory matters and track record of addressing complex financial, operational and policy challenges as key qualifications.

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