For most of the twentieth century, retirement was considered relatively secure for American workers. This was due to defined benefit (DB) pension plans, which promised employees a lifetime monthly income based on their years of service and salary. This allowed retirees to avoid worrying about outliving their savings and assured financial stability. But this traditional … Read more
Social Security has long been the bedrock of financial security for millions of Americans. Since its inception in 1935, this program has provided retirees, disabled individuals, and survivors of deceased workers with a reliable source of income. However, recent reports from the Social Security Trustees have sparked concerns about the program’s long-term sustainability, particularly the … Read more
In today’s era, when both the economy and the workplace are rapidly changing, retirement plans are also witnessing a major transformation. Employers are shifting from traditional Defined Benefit (DB) pension plans to Defined Contribution (DC) plans by 2025. This shift is not only impacting companies’ financial strategies but also having a profound impact on employees’ … Read more
