All articles tagged with #retirement assets
New Federal Reserve data shows a stark divergence in U.S. financial health: households headed by those 75 or older recorded the highest median net worth ($504,000) and largest income gains, while nearly 20% of all households are now behind on debt payments, a level not seen since the Great Recession.
Goldman Sachs secured a $70 billion retirement-asset mandate from Verizon Communications and Lockheed Martin, including about $30 billion in pension assets and $40 billion in Verizon’s defined-contribution assets (e.g., 401(k)s). The deals highlight the trend of large employers outsourcing retirement management to specialized firms amid rising complexity, as competition among asset managers intensifies. Goldman aims for more stable, recurring revenue from outsourced investments; its outsourced CIO business had about $480 billion in assets as of March 31, with roughly $3.7 trillion in assets under management across its asset and wealth management division.