The latest in the world of retirement-related news: "Pension-izing" retirement plans, why working longer can be a good thing, and tips for handling retirement assets in a divorce.
Time for a new model in retirement plans? The 401(k) and individual retirement account models of generating retirement income have failed for a large portion of the workforce for various reasons. Now is the time, argue three experts, to "pensionize" retirement plans.
Merck makes exception to retirement policy to keep CEO. Merck & Co. this week made an exception to its mandatory retirement policy to allow Ken Frazier to remain the company's CEO past the age of 65. Merck joins the trend of fewer companies requiring retirement by a certain age.
Working longer before retirement can have significant benefits. Continuing to work past age 65 can bulk up savings and potentially increase future Social Security payments -- two factors that make a big difference in retirement security. Not everyone is able to keep working, but those who can might find that the current tight labor market works to their advantage.
Six tips for handling retirement assets in a divorce. Splitting up retirement assets in the event of a late-in-life divorce can be tricky, writes investment advisor Kirk Cassidy, who offers six tips for people in the situation. Among his suggestions are not letting emotions cloud financial decisions, making sure paperwork is organized and keeping tax consequences in mind.
IRI paper: Annuities are powerful tools to manage healthcare costs in retirement. People who manage their health risks well can end up saving on annual healthcare costs, but their overall healthcare spending could rise if they live longer because of this, according to a paper from the Insured Retirement Institute and HealthyCapital. The paper also looked at how income from annuities can help cover healthcare costs in retirement, even if the owners live a much longer than their projected life expectancy.