Skip to main content

Can DB Pension Plans Be Making a Comeback? #BRNAM #1244


#BRNAM #1244 | Is there a resurgence of DB pension plans? | John Lowell, October Three Consulting | #Tunein: broadcastretirementnetwork.com or your #favorite #streaming / #podcast / #smarttv / #localtv / #digital #platform...(read more)


LEARN MORE ABOUT: Retirement Pension Plans
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
In recent years, the shift towards defined contribution (DC) pension plans has been significant. However, a new trend has emerged which suggests a possible resurgence of defined benefit (DB) pension plans. DB pension plans are retirement plans that provide a specific monthly benefit upon retirement, based on a predetermined formula which usually takes into account an employee's salary, years of service, and age. On the other hand, DC plans are retirement savings plans that allow employees to contribute money towards their retirement and receive contributions from their employers, but the final pension benefit depends on investment performance. According to a survey conducted by Willis Towers Watson, 23% of employers may consider adding DB plans to their retirement benefits lineup in the future. The study also found that 74% of employers felt that their current retirement benefits are not adequate to support employees’ retirement readiness. Several factors are contributing to this trend, including a desire to offer more predictable retirement income to employees, concerns about employees outliving their retirement savings, and changes in legislation making it easier for employers to offer hybrid retirement plans that combine elements of both DB and DC plans. Furthermore, the COVID-19 pandemic has exposed a weakness in DC plans, as market volatility and economic uncertainty have caused many employees to withdraw money from their retirement accounts or reduce their contributions. On the other hand, DB plans provide a steady source of retirement income unaffected by market conditions. However, DB plans are not without their own set of challenges. They are generally more expensive for employers to fund, and can potentially pose a funding risk in the event of an economic downturn or unfavorable demographic trends. In conclusion, while the trend towards DC plans has been significant in recent years, there is a possibility of a resurgence of DB plans. Employers are recognizing the need to provide more predictable retirement income to their employees, and new hybrid plan designs are making it easier for employers to combine the advantages of both types of plans. However, the decision to offer a DB plan is not one to be taken lightly and should be carefully considered in light of the employer's financial situation and goals. https://inflationprotection.org/can-db-pension-plans-be-making-a-comeback-brnam-1244/?feed_id=92688&_unique_id=644d6cc4756a5 #Inflation #Retirement #GoldIRA #Wealth #Investing #529Plans #DataBreach #healthyaging #personalfinance #401k #403b #457b #Aging #annuities #Cryptocurrency #Cybersecurity #ESG #Healthcare #hedgefund #Markets #pensions #Retirement #savings #sustainability #tech #RetirementPension #529Plans #DataBreach #healthyaging #personalfinance #401k #403b #457b #Aging #annuities #Cryptocurrency #Cybersecurity #ESG #Healthcare #hedgefund #Markets #pensions #Retirement #savings #sustainability #tech
Labels:

Comments

Post a Comment

Popular posts from this blog

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their
Post a Comment
Read more

Birch Gold Group Review 2023 – Best Gold IRA Company? Pros and Cons

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. See chapters in the description. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Chapters: 0:00 - Intro 0:26 - Is Gold a Good Investment? 1:03 - What is Birch Gold Group? 1:37 - IRA Eligible Coins 1:59 - Is Birch Gold Group a Legitimate Company? 2:50 - How Does Birch Gold Group Work? 3:34 - Birch Gold Group’s Fees and Investment Options 4:02 - Birch Gold Group Low Minimum Investment 4:29 - Birch Gold Group Storage and Security 5:34 - Con #1 – No Overseas Storage Options 5:49 - Con #2 – Initial Setup Fees 6:02 - Birch Gold Group Review Summary Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a
Post a Comment
Read more