|
Komfie Manalo, Opalesque Asia: A study by J.P. Morgan Asset Management has found that many Americans are not allocating their assets appropriately and remain woefully unprepared for a retirement that may last upwards of 30 years.
The study, contained in a paper entitled, "Retirement Reset: How re-enrollment can help strengthen U.S. retirement security," explores the state of the U.S. retirement system 10 years after the passage of the Pension Protection Act (PPA).
"The Pension Protection Act sets a strong foundation and made great strides, creating new opportunities for stronger DC plans and greater potential for increased retirement security. But, the reality is the U.S. retirement system is still falling short," said John Galateria, head of North America Institutional, J.P. Morgan Asset Management. "Although some progress has been made on the savings front, advances have been far more limited in getting participant assets allocated appropriately to help get them across the retirement finish line."
The paper assesses key accomplishments of the PPA, including establishing a legal framework for the use of automatic enrollment, introducing automatic contribution escalation, and creating the Qualified Default In...................... To view our full article Click here
|
|