Retirement planning

July 20 - The Boston Consulting Group, Inc. - 2010 Global Asset Management Report - 8:15 a.m. - 9:30 a.m. BCG's New York Office at 430 Park Avenue (between 55th and 56th). For more information, please contact David Fondiller at 212/446-3257 or fondiller.david@bcg.com

Back in March, sister publication Financial Planning wrote about the potential long-term care crisis that could plague Boomers during their later years.

Fifty seven percent of employers automatically enroll workers in 401(k) plans, but slightly less than half of those that reduced or suspended matching contributions when the financial crisis hit in September 2008 have restored them, according to a survey released Wednesday by Towers Watson.

BlackRock study also finds a gap between what people intend to save and what they actually contribute.

The site was updated based on feedback from advisors.

A survey from Allianz Life finds that a significant number of boomers feel they are unprepared for retirement — and many blame their advisors.

Individual Retirement Account assets have overtaken assets held in 401(k) plans and 403(b) plans for the first time, according to a Cogent Research report.

Wealthy individuals now hold more of their assets in IRAs than employer-based plans.

Is it possible the media has overhyped the interest level in conversions? Bank of America recently reported that its first quarter Roth IRA conversions surged beyond expectations (see MME 5/10/10). Earlier this year, MME reported that while Roth IRA conversions had the potential to put $3 trillion in play, some fund companies were treating this opportunity merely as a way to reconnect with clients to speak with them in a meaningful way about their retirement planning and tax situation.

Schwab Charitable is hopping on the Roth IRA conversion bandwagon, urging wealthy investors to take advantage of lifted income caps to lower their subsequent tax exposure through charitable donations.

A new survey from TD Ameritrade finds that boomers are less likely to consult spouses when it comes to financial matters.

More than 7.3 million older Americans — one out of every five citizens over the age of 65 — already have been victimized by a financial swindle, according to a new survey.

Putnam Investments plans to continue to aggressively expand its array of products even as market volatility has forced some competitors to retrench.

Robert L. Reynolds, the company’s president and chief executive officer, said he thinks there are a range of opportunities for Putnam to develop products for Boomers “as they age and the need for lifetime income solutions becomes more evident.”

http://www.aarp.org

The $5 billion earmarked by Congress for early retirees is supposed to be available through 2014.

It is no secret that the financial services world is in the midst of an arms race to service Baby Boomers as they enter the next phase of their investing lives.

A California firm is building portfolios that help boomers generate predictable income.

AARP research finds that even fewer employers have adopted automatic escalation.

Upper quintile earners that are over 65 still derive 40% of their income from work, which means new assets for advisors to tap.