Half of working age Americans not contributing to a retirement planPosted by RJ and Makay on May 15, 2012 |
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49% of Americans are not contributing to any retirement plan, according to a new Life Insurance and Market Research Association (LIMRA) survey. And those age 18 to 34 are more likely (56%) than other age groups to not be saving for retirement. The survey also showed that only 25% of all Americans and less than a third of Americans over 50 have worked with a financial professional for retirement planning.
defined contribution plans
The U.S. Department of Labor (DOL) issued a rule yesterday that will expand access to personalized investment advice for workers in retirement savings plans, Assistant Secretary of Labor Phyllis Borzi said. Advisors to defined-contribution plans such as 401(k)s and IRAs will be able to recommend investments and receive fees from investment companies.








