There was a time when folks in the food industry didnt want nutritional information published. They said people would be so bombarded with facts, they wouldnt know what to do or wouldnt bother to find out.

They were right in some respects: People see helpful nutritional facts on packaging, and they buy the bad stuff anyway.

And the same may be true when retirement plan participants get clearer details on how much they pay in fees to invest their retirement money.

New disclosure rules by the Labor Department are intended to help workers and the companies that provide retirement plans understand the fees charged to, or deducted from, individual accounts.

Those with 401(k)s or similar plans should begin receiving the information by Aug. 30. And more detailed information tied directly to the fees you pay will be sent with your quarterly statement by Nov. 14.

So what are you going to do with this enhanced fee information? Will you ignore it? Or will you take it seriously?

Its not reasonable to expect service providers to do this for free, but people are going to be shocked and outraged when they see how much they pay in fees, said Peter Kirtland, president and chief executive of ASPire Financial Services, which provides low-cost retirement plan solutions that can be customized.

The government says the new rules will reduce the time investors spend collecting fee information.

It would be great if most plan participants devoted time to analyzing fee information. They do not, according to AARP.

The advocacy group for seniors polled 800 workers with money in 401(k)s and asked them if they paid fees: Seventy-one percent said no. Yet all fund owners are compensated through fees for the costs of running the fund, says Don Blandin, president of Investor Protection Trust.

Read more from the original source:
Retirement fund fees, if ignored, will eat into your nest egg

What does retirement mean to you? When I was in my 20s, this is what I thought a typical day for a retiree would be like.

5 a.m. Wake up to a leisurely breakfast and a cup of coffee. Read the paper and do the crossword puzzle.

7 a.m. Go for a walk or swim in the pool, then take it easy.

9 a.m. Watch some TV and read a magazine or a book.

11 a.m. - Have lunch.

Afternoon Go shopping, walk the dog, work on the house, and catch up with friends.

5 p.m. Have an early bird dinner and kick back the rest of the day.

9 p.m. Time to hit the hay.

This sounds like the easy life, but it also seems quite boring. This vision fits a sedate retirement home more than the current active retirements in which many retirees actually engage. Now that Im older and know more retirees, I know this is not what people do in retirement. Many people stay quite active when they first retire from their careers and put off the relaxed retirement until when they are much older.

Active retirement. My dad retired about five years ago from running a restaurant, but a relaxed retirement isnt for him. He is always restless and hated not working. So he started a new micro business and is working part time. Its a hobby-based business and he is having a lot of fun. My father-in-law retired with a full pension and he is working (ok, volunteering) at a friends liquor store for free. One of my friends is financially independent, but he still actively manages his portfolio every day. I suspect most people would rather continue to be active after they retire from their career than relaxing around the pool all day.

Excerpt from:
What Does Retirement Really Look Like?

WEST DES MOINES, Iowa--(BUSINESS WIRE)--

Sammons Retirement Solutions, Inc.SM, which develops and distributes products focused on IRA rollovers and other retirement assets, today announced the launch of LiveWell ModelsSM, a series of risk-based asset class model portfolios created exclusively for the LiveWell Retirement Series. Developed by Morningstar Associates, LLC, a registered investment advisor and a wholly owned subsidiary of Morningstar, Inc., LiveWell Models are designed to help financial professionals make informed asset allocation1 recommendations to clients to help them meet their investment goals.

The models provide financial professionals with a quick and easy way to create portfolios for clients based on the clients target asset allocations and according to their answers to an optional Morningstar Risk Tolerance Questionnaire. When creating a portfolio, an online Morningstar proposal-builder tool gives financial professionals the flexibility to use a LiveWell Model or to select a LiveWell Asset Class Model as a framework to choose the funds themselves. The tool allows financial professionals to add a hypothetical comparison portfolio to help evaluate the asset allocation, investment style, top holdings, and historical performance. The end result is a set of illustrations at the asset-class or investment option level that financial professionals can present to clients or prospects.

It is becoming increasingly important for financial professionals to give their clients a range of options for investing rollover money from 401(k) and other investment vehicles. The challenge with too many options may be the difficulty in allocating the investment dollars. said William Lowe, President of Sammons Retirement Solutions, Inc. To address the growing demand for allocation assistance, we have responded to financial professionals requests for something beyond traditional asset class allocation strategies. The LiveWell Mutual Fund IRA offers fund-specific models and the LiveWell Variable Annuity provides a similar model at the investment option level.

The models are comprised of portfolios that provide exposure to a broad spectrum of asset classes. Each model suggests the mix of investment options based on a clients time horizon, investment goals, and risk tolerance across different investment categories such as Conservative, Moderate, Moderate Growth, Growth, and Aggressive Growth. The models include investment options from brand name money managers as well as boutique managers.

About Sammons Retirement Solutions, Inc.SM(SRSI SM)

A member of Sammons Financial Group, Sammons Retirement Solutions, Inc.SM specializes in designing straightforward retirement solutions that address the increasingly complex needs of todays investors. The company complements Sammons Financial Groups existing business by expanding the product line with a Mutual Fund IRA platform and a variable annuity available for sale through independent broker-dealers and financial professionals.

Variable annuities are designed for long-term investing such as retirement investing and are subject to market risk including loss of principal.

Investing in mutual funds and variable annuities involves risk, including potential loss of investment. You and your client should consider the investment objectives, risks, charges, and expenses of the mutual fund or variable annuity and its underlying investment options carefully before investing. The prospectus and/or summary prospectus contain this and other information. You or your client can call 866.747.3421 to obtain a current prospectus for the mutual fund or the variable annuity and its underlying investment options. Please read it carefully.

You and your client should consider the expenses of the IRA program before investing. You and your client must receive a fund prospectus and the LiveWell Mutual Fund IRA disclosure form before investing.

More:
Sammons Retirement Solutions, Inc. Launches LiveWell Asset Allocation ModelsSM Powered by Morningstar Associates

DETROIT, Aug. 22, 2012 /PRNewswire/ --The Police and Fire Retirement System of the City of Detroit has received full payment on its investment in the One Kennedy Square building and other key properties are seeing stable returns and record occupancies, a report shows.

Just a few years ago when renovation or construction of new commercial projects was planned in Detroit few banks would lend and investments made by the Police and Fire Retirement System have resulted in stable returns, full reimbursements to the Pension Fund with the added benefit of increased occupancy and building density in Detroit.

"The Police and Fire Retirement System is proud of its record of investing in commercial properties within the City of Detroit," said Chairman Matt Gnatek. "All six of the commercial properties in our Targeted Investment Fund are generating good yields and the entire $3 million loan made to the One Kennedy Square project has been repaid in full. No other pension system has made these types of investments to help grow businesses in the City."

Gnatek commented on a report titled the Detroit Targeted Investment Fund that provides up to $25 million of revolving loans prior to the loan repayment from One Kennedy Square. Many of the development projects, he noted, could not have been done without financing from the Fund. The investment report was prepared by Alex Brown Realty, Inc. and presented to the Board by advisor Marty West at a recent meeting.

"For a long time one of the few capital sources available to developers in the City of Detroit was the Police and Fire Pension Fund," said West. "They had a plan to help stimulate growth in key areas of the city and it has resulted in performing loans and nearly fully occupied office and apartment buildings."

The PFRS invested in the Kales Building, One Kennedy Square, Lafer Building, Union at Midtown, Beethoven Apartments and the College Park Medical Building all within the City of Detroit. The pension fund is receiving a minimum interest rates ranging from 7.25 percent to 8.5 percent.

"The Police and Fire Pension Board has taken a lot of heat for so-called bad investments," said Gnatek. "While there have been some isolated projects that went awry, the vast majority even with the benefit of hindsight were excellent investments for financial reasons and to help build density in the core city areas and underserved areas of the City and that was exactly what the intent of these investments were at a time when no one would touch City properties."

"Everyone is praising Dan Gilbert and Quicken Loans and other companies for moving downtown and they should," said Gnatek. "We would appreciate acknowledgment that with Pension Fund monies wisely invested these buildings represent more than 40 stories of buildings with commercial space and apartments now occupied in the City. We are very proud of helping make this happen at a time when no one else would and the Board was criticized for throwing good money after bad."

Redico, owners of One Kennedy Square, refinanced the 10 story building paying a $3 million mezzanine loan off to the PFRS five months early. The building was refinanced for $27.3 million or $112 per square foot.

"This building has been a great addition to the city skyline adjacent to Campus Martius Park," said Redico CEO Dale Watchowski. "It likely would never have happened without the mezzanine financing from Invest Detroit and the Detroit Police and Fire Retirement System. We are very grateful for their vision and foresight in establishing their Targeted Investment Fund."

Originally posted here:
Police and Fire Retirement System Investments in Detroit properties sparks growth, buildings fully occupied

August 22, 2012: 5:29 PM ET

Are you in your first year or two of retirement? MONEY magazine wants to know what you're doing to get your retirement off to the right start.

For an upcoming story in the magazine, we're looking to speak to people in their early to mid-60s who are making moves to ensure their retirement life is successful. For example, you may be reassessing your income needs to adjust if you're spending more than you expected, or you may be adjusting your portfolio to ensure you're preserving your nest egg now that you're no longer socking away money. Or you may be looking to go back to work in some capacity to bring in extra income.

Tell us what you're doing to make sure your retirement is a success: Send your name, age, former occupation, daytime phone number, and a recent picture to lauren_gensler@moneymail.com. You should be willing to share a brief description of your retirement assets and income and possibly be photographed for the magazine.(We won't use any of your information unless we can get in touch with you first.)

Thank you!

FindMONEY on Facebook. FollowMONEY on Twitter.

Read the original:
Is your retirement off to a good start?

Photodisc | Getty Images

The odds of success aren't great, of course but even first time entrepreneurs know that on some level. Startlingly few of the ones who do make it think forward to their golden years, however, which could present a big problem when they're ready to retire.

Those who do consider retirement options often consider selling their company as the sole exit strategy, and investment option. A big buyout, after all, is likely to top whatever they can squirrel away in IRAs and mutual funds. Reality has a way of squashing those dreams, though.

Dun & Bradstreet reports small business failure rates rose by 40 percent between 2007 and 2010 and some states had it even worse. California, for instance, had a failure rate of 69 percent. For owners who were counting on those companies to set them up for life, it's a devastating figure.

[MORE ON CNBC.COM: Too Many Start-ups to Survive?]

"It's been my experience that most entrepreneurs think of their business as their retirement," says Rick Rodgers, author of "The New Three-Legged Stool: A Tax Efficient Approach to Retirement Planning" and president of Rodgers & Associates. "At some point, they think 'I'm going to sell the business. I don't need to do anything else unless I need a tax advantage.' So most of their disposable income goes into their business. I don't think that makes sense. One of the founding principles of investing is diversification."

Even among those entrepreneurs who aren't betting the farm on the sale of their business, there's still concern. An October 2011 Gallup poll found 67 percent of small business owners are worried about not being able to put enough money away for retirement. And a survey in February by the American College, a nonprofit educational institution that focuses on financial services, found small business owners particularly unprepared for retirement.

"The lack of retirement planning by so many people is stunning, especially since business owners have no one else to rely on when it comes to putting their retirement plans in place," said Mary Quist-Newins, director of the State Farm Center for Women and Financial Services at The American College. "When you consider that the mean age of our respondents is just over 50 you have to wonder: 'What are these individuals waiting for?' Retirement will be upon them before they know it. Small business owners need to start preparing for retirement now."

The best way to do that is to force yourself to put away a minimal amount each month even in the insane start-up days.

[MORE ON CNBC.COM: How a Vacation Turned Into a New Swimwear Business]

Read the rest here:
Entrepreneurs and the Retirement Trap

Tom Grill | Blend Images | Getty Images

When we asked this same question in 2011, 15 percent said they were saving more than the previous year not a significant difference.

But the same proportion of people, 18 percent, say they are saving less than they did last year. That's actually much better than last year, when 29 percent of Americans said they were contributing a smaller amount to retirement savings than the previous year.

"The fact that people have stopped saving less is good but are they saving enough? The data (are) showing, in aggregate, no," says Certified Financial Planner David Littell, co-director of the New York Life Center of Retirement Income and professor of taxation at The American College in Bryn Mawr, Pa.

The combined retirement income deficit for baby boomers and Generation Xers is estimated to be $4.3 trillion, according to a May 2012 report from the Employee Benefit Research Institute, or EBRI.

Starting younger is better

Ideally, people would increase retirement contributions every year, but they don't because it's very likely that most people have no idea how expensive 30 years of retirement will be.

According to a March 2012 report from EBRI, 56 percent of workers say they haven't calculated how much they need to save for retirement.

Calculating retirement income needs is the first step to establishing an effective retirement savings rate. It may be higher than you think, particularly if you're older than 30.

For instance, with 30 years to save for a 30-year retirement, someone with an investment portfolio split between 60 percent stocks and 40 percent bonds would need to save 16.62 percent of her income per year in order to replace 50 percent of her income in retirement. Those numbers are from the work of Wade D. Pfau, an associate professor at the National Graduate Institute for Policy Studies in Tokyo.

Link:
Boomers, Gen X Down $4.6 Trillion on Retirement Income

LOS ANGELES--(BUSINESS WIRE)--

Transamerica Retirement Services announced today that it has received awards and recognition from leading industry organizations during the second quarter of 2012, including several awards celebrating its efforts to increase employee awareness about retirement readiness.

Transamerica strives to provide an excellent customer experience, and effective marketing campaigns and materials are critical in inspiring workers to save for retirement, said Stig Nybo, president of Transamerica Retirement Services. We remain focused on helping people transform their tomorrows by being retirement ready, and we are honored that these expert marketing organizations have recognized us for so many of our communications materials.

Recognition of Transamerica during the second quarter of 2012 includes:

Hermes Creative Awards

The Hermes Creative Awards is an international competition for creative professionals involved in the concept, writing and design of traditional and emerging media. Hermes Creative Awards recognizes outstanding work in the industry, while promoting the philanthropic nature of marketing and communication professionals. Transamerica received five separate honors, including:

Integrated Marketing Materials: 2011 401(k) Day Campaign

Website Element/Web Based Multi-Media: RetireTrackSM

Video/Marketing (Service): Annual Retirement Plan Review Tutorial

Integrated Marketing Materials: RENEW Your Commitment to Retirement Planning Brochure

Read more:
Transamerica Retirement Services Announces Second Quarter 2012 Industry Accolades Celebrating Marketing Initiatives

By Madhavi Acharya-Tom Yew | 2012/08/20 17:00:00

Dan Slovitt spent more than four decades working his way up the ranks at The Canadian Press. Retirement beckoned but he was still thirsty.

When youre in a business for 40-some years, you dont just turn the tap off. You have a lot of connections and interests and you want to see those things prosper, Slovitt said.

So, at 58, Slovitt began scaling back to part-time work at the national news agency. He also used his extensive network to get consulting work from other employers. That was almost five years ago, and Slovitt hasnt looked back.

Could I survive without working? Yes. I do it because I want to, the 62-year-old said.

I have time to do some work that I find fulfilling and I have time to do personal things. I can be with my grandchildren and support my wifes activities. It has worked out very well.

More Canadians are leaning toward a retirement plan that doesnt much resemble traditional notions of the Golden Years, a new survey shows.

More than half of Canadians now in their 50s plan to keep working after retiring in their 60s, according to the national online survey, conducted last month for Canadian Imperial Bank of Commerce by Leger Marketing.

Two-thirds say its a way to way to stay socially active, and that they find their work enjoyable and want to remain the workforce to some degree.

But one-third say they would work just for the money.

More:
The new retirement? Working in your 60s

8/20/2012 3:18 PM ET

By Samuel Weigley, 24/7 Wall St.

To retire well, you should prepare well in advance. But if you're in your 50s and haven't started planning yet, these steps are the place to start.

Once people reach their 50s, they finally see retirement on the horizon. They start envisioning that time when they can stop going to work and instead spend their days on the golf course, on the beach or with their families. Yet many people have not saved nearly enough for retirement by the time they are 50. A recent survey by the Employee Benefit Research Institute, or EBRI, found that 60% of workers born between 1946 and 1964 have less than $100,000 for retirement. In fact, 40% have saved less than $25,000.

24/7 Wall St. interviewed retirement-related experts from brokerage firms, banks, retirement advocacy groups and independent financial advisers. With their help, 24/7 identified the eight actions you should take if you have not prepared to retire.

Financial advisers generally recommend people begin saving for retirement starting in their 20s to take full advantage of compounding interest. Although the financial advisers who spoke to 24/7 Wall St. say it is very hard to give concrete estimates on how much should be allocated toward equities and fixed-income investments, they say it is best to cut risk as one approaches a target retirement age.

Not saving up enough for retirement used to be less of a problem. Workers in previous generations often received pensions from their employers, allowing retirees to know exactly how much money they would get once retired. But employers have increasingly shifted that responsibility onto the employees through 401k and other defined-contribution plans.

The rest is here:
How to catch up on retirement planning