Archive for the ‘Retirement’ Category
The Standard Enhances Online Retirement Plan Tools
Posted: March 23, 2012 at 6:38 am
PORTLAND, Ore.--(BUSINESS WIRE)--
Standard Retirement Services, Inc. ("The Standard") is launching two enhanced retirement plan websites to provide advisors, employers and participants with a more informative and intuitive online experience. The two websites are: PlanNet, a retirement plan management resource for advisors and employers, and Personal Savings Center, a financial savings and management tool for participants.
These online tools have been upgraded based on direct user feedback. PlanNet enhancements include improved navigation for quicker access to popular plan management tools, along with more prominent displays of key plan information, such as plan investment balances and participant activity. Similar enhancements have been made to Personal Savings Center, providing easier access to investment management tools and more prominent displays of key account information, such as current balance, investment return, contribution history and loan activity.
In addition, both websites have increased their use of graphics to help deliver key data and educational information in a more compelling and easier-to-understand format.
These upgrades are a direct result of our strong collaboration with plan advisors and their clients, said Harley Spring, vice president of Plan Services. As a result of their feedback, our customers online experiences are now more intuitive and streamlined, making it easier to quickly access the most important information.
The Standard also recently enhanced its participant statements and enrollment communication materials. Our high commitment to service has led to our ongoing and significant investments in the tools and resources necessary to help employees reach retirement readiness, Spring added. We continually listen to advisors and employers to make sure we are delivering on our promises and adding long-term value to our partnerships.
Disclosure
StanCorp Equities, Inc., member FINRA, distributes group annuity contracts issued by Standard Insurance Company and may provide other brokerage services. Third-party administrative services are provided by Standard Retirement Services, Inc. Investment advisory services are provided by StanCorp Investment Advisers, Inc., a registered investment advisor.
About The Standard
The Standard is a leading provider of financial products and services, including group and individual disability insurance, group life, AD&D, dental and vision insurance, retirement plans products and services, individual annuities and investment advice. For more information about The Standard, visit http://www.standard.com.
Retiring Sens. Snowe, Bingaman: Political Center Is Disappearing – Video
Posted: March 22, 2012 at 7:36 pm
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Retiring Sens. Snowe, Bingaman: Political Center Is Disappearing - Video
Fernando Gonzalez Retirement Tribute Video – Video
Posted: at 7:36 pm
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Fernando Gonzalez Retirement Tribute Video - Video
Jinnah admirers should retire from BJP: Anshuman Mishra – Video
Posted: at 3:11 am
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Jinnah admirers should retire from BJP: Anshuman Mishra - Video
Retirement commissioner seeks budget increase
Posted: at 3:11 am
TOM PULLAR-STRECKER
Retirement Commissioner Diana Crossan has labelled her $5.8 million budget "pathetic", telling MPs the commission needed three times as much money.
Crossan later upped that to "20 times", while acknowledging that was probably how many people felt about budgeting for retirement.
She is not alone in pleading poverty.
Chief ombudsman Beverley Wakem said last month that the Office of the Ombudsmen was in crisis and appealed for an extra $1m to be added to its $8.6m budget.
Privacy Commissioner Marie Shroff last month told Justice Minister Judith Collins that its $3.4m budget had not increased since 2006 and rapid growth in ICT and online activity was "placing pressure on its regulatory, policy and communications capabilities".
Appearing in front of a select committee yesterday, Crossan said that if the Commission for Financial Literacy and Retirement Income had more money, the first place she would put it would be in schools.
"The Australians announced last year that $10m would go into teaching financial education in schools over the next three years. We get nothing in particular for this."
The Bankers Association and the Young Enterprise Trust had helped develop teaching resources and the commission had partnered with banks to provide education to schoolchildren, but Crossan said she believed financial literacy would best be taught by "ordinary classroom teachers".
ASB Bank's retail general manager, Ian Park, said it had helped 175,000 schoolchildren learn basic money management skills since it launched its free "GetWise" programme two years ago and last year doubled the number of "classroom facilitators" to six.
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Retirement commissioner seeks budget increase
Golden State Warriors fans boo owner Joe Lacob during Chris Mullin jersey retirement (full) – Video
Posted: March 21, 2012 at 6:26 pm
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Golden State Warriors fans boo owner Joe Lacob during Chris Mullin jersey retirement (full) - Video
Retirement commissioner seeking increase
Posted: at 6:26 pm
TOM PULLAR-STRECKER
Retirement Commissioner Diana Crossan has labelled her $5.8 million budget "pathetic", telling MPs the commission needed three times as much money.
Crossan later upped that to "20 times", while acknowledging that was probably how many people felt about budgeting for retirement.
She is not alone in pleading poverty.
Chief ombudsman Beverley Wakem said last month that the Office of the Ombudsmen was in crisis and appealed for an extra $1m to be added to its $8.6m budget.
Privacy Commissioner Marie Shroff last month told Justice Minister Judith Collins that its $3.4m budget had not increased since 2006 and rapid growth in ICT and online activity was "placing pressure on its regulatory, policy and communications capabilities".
Appearing in front of a select committee yesterday, Crossan said that if the Commission for Financial Literacy and Retirement Income had more money, the first place she would put it would be in schools.
"The Australians announced last year that $10m would go into teaching financial education in schools over the next three years. We get nothing in particular for this."
The Bankers Association and the Young Enterprise Trust had helped develop teaching resources and the commission had partnered with banks to provide education to schoolchildren, but Crossan said she believed financial literacy would best be taught by "ordinary classroom teachers".
ASB Bank's retail general manager, Ian Park, said it had helped 175,000 schoolchildren learn basic money management skills since it launched its free "GetWise" programme two years ago and last year doubled the number of "classroom facilitators" to six.
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Retirement commissioner seeking increase
Retirement Secrets of Successful Investors
Posted: at 6:26 pm
What can we learn about retirement planning from successful investors? Plenty! Bank of America and Merrill Lynch recently published their Affluent Insights Survey of 1,000 investors with assets of $250,000 or more, and the results are indeed insightful.
Any time successful people are willing to share their point of view, I'm interested to see what I can learn. You'll see that these secrets aren't rocket science and can be used by anybody, not just the privileged, to get ahead financially. In fact, these "secrets" are just common sense, offering guidelines on what to do -- and not do -- when it comes to your money. Let's take a look.
Secret No. 1: Redefine retirement
The successful investors consulted for the survey are changing the definition of retirement. Almost three-fourths of respondents who aren't yet retired view this upcoming life stage as a second act during which they plan to work full or part time. Almost 30 percent intend to cycle between work and leisure, 22 percent plan to work at a job they enjoy more than the one they currently have, and 14 percent want to continue working part time in their current job.
About one in four define retirement as never working again, while only 14 percent define retirement as hitting a certain age.
Secret No. 2: Make lifestyle tradeoffs
If given the choice, half of the affluent Americans surveyed who are not yet retired would rather retire later than make tradeoffs in their lifestyle now. But 81 percent would choose to reduce their standard of living when push comes to shove -- as it most certainly will, even for affluent investors. The survey respondents reported a variety of actions they'd be willing to take; each of the following actions would be taken by one-fourth to one-third of the survey respondents:
-- Trim day-to-day expenses -- Buy fewer luxuries -- Limit vacations -- Cut back on entertainment -- Keep the same car longer -- Leave less of an inheritance -- Downsize their home
I contend that these actions won't ruin their lives. Even if they have to implement some of these strategies in order to save enough for retirement, they'll still enjoy a good life.
Secret No. 3: Plan for retirement
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Retirement Secrets of Successful Investors
Retirement Commissioner wants more money
Posted: at 2:02 am
Retirement Commissioner Diana Crossan has told MPs she needs more money if her office is to increase the financial literacy of Maori and Pacific Islanders.
The Commission for Financial Literacy and Retirement Income, which operates the Sorted.org website, was urged to extend its coverage to lower socio-economic groups at Wednesday's hearing of parliament's social services committee.
Since it was established in 1993, the commission has predominately focused on improving the financial literacy of middle income New Zealanders.
"We don't have the facilities or the money that would be required to target some of these groups," Ms Crossan said.
"We are aware that what we are doing is for the general population - we are targeting some smaller areas but we don't have a lot of the resources. We can't work alone."
She said the commission has no specific strategy to target Maori and Pacific Islanders. She acknowledged a relationship with the Ministry of Pacific Island Affairs would be an important pathway to developing one.
"We have talked with iwi - we want them to get into a long-term strategy," Ms Crossan said.
"What we have had to do is to alert them to the fact that the resources are there - we can help you but we can't do it."
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Retirement Commissioner wants more money
Maximize retirement income
Posted: at 2:02 am
3/20/2012 12:57 PM ET
By Annie Mueller, Investopedia
It's hard to think of retirement when you're still young, but smart moves now can make sure your older self will be financially secure.
You want to not only have enough money to live comfortably when you retire, you also want a little bit more. Maybe you want enough to travel, start that side business you always talked about or purchase your dream home since you'll have time to enjoy it. Whatever your retirement dreams are, maximizing your retirement income can help.
Here are some ways to do just that:
You've no doubt heard of the benefits of compound interest. The key is that the sooner you start saving, the sooner you start gaining the interest and the sooner that interest can start compounding. Two years makes a difference, but five or 10 years makes an even bigger difference in the amount you end up with upon retirement. If you're on a tight budget, you can still stash at least a little bit away in a retirement account. Have a set amount automatically deducted from your paycheck, so you're not tempted to spend it. You're investing in your own future. (Are you saving enough for retirement? Find out with MSN Money's calculator.)
This one isn't always possible, but if you happen to have a nice lump sum of money come into your possession, consider using it as the base of your retirement fund. Graduations and weddings often result in gifts of cash, so use these as the seed of your retirement account for increased compound interest and a larger return when you retire.
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Maximize retirement income