Tag: shift to defined contribution plans
Late Boomers have surprisingly low levels of retirement wealth compared to earlier cohorts. A decline in some wealth components had been expected as a result of the rise in Social Security’s Full Retirement Age and the shift from defined benefit to defined contribution plans. But increasing 401(k)/IRA balances were predicted to offset the gap, sinc…
The media sometimes jokingly refer to the Millennial Generation (born between 1979 and 1996) as “Generation Wait.” Indeed, this generation has delayed many of life’s keystone events: obtaining that first good job, getting married, having children, and purchasing a home. My colleagues and I have worried that all these delays will also lead to an…
