“Remaking Retirement? Debt in an Aging Economy," was the theme of the 65th annual symposium of the Wharton School's Pension Research Council, held last week in Philadelphia. (Photo: Kitchen and retirement makeovers sometimes occur in tandem.)
Annuity providers failed to sponsor a single booth at the Morningstar conference trade show. That's a bit odd, since they claim to want to break into the registered investment advisor market. And there were several retirement-oriented breakout sessions on the program.
Assets in target-date strategies totaled more than $1.7 trillion at the end of 2018, with $1.1 trillion in mutual funds and approximately $660 billion in target date CITs. Vanguard claimed nearly 40% of the TDF market at year-end 2018 and held roughly $650 billion in total assets across its mutual fund and CIT series.
'If voters in small-town America succumb to despair and lose hope in the market economy, they will be vulnerable to the siren song of ethnic nationalism or full-bore socialism, either of which would destroy the delicate balance between markets and the state,' writes our guest columnist.
Among low-income Germans, only 28% of those earning up to €2,500 ($2,804) a month were signed up for a workplace pension and just over half (52%) of those earning up to €4,500 ($5,047) had a workplace pension, compared to 71% of those earning above this level.