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Retirement Planning > Retirement Investing

Experts: More Americans Will Work Past Age 65

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NU Online News Service, Jan. 10, 2005, 11:51 p.m. EST

Private retirement plans may change far more than Social Security retirement benefits by 2010.[@@]

That prediction appears in a report based on an informal survey of 23 retirement services experts.

When Diversified Investment Advisors Inc., Purchase, N.Y., conducted the survey, it found that only 64% of the survey participants said they believe the government will set up private, worker-directed Social Security accounts by the end of the decade.

But 75% of the survey participants believe at least one-third of individuals ages 65 to 74 will be working in 2010, and about 75% of the participants said they believe that most people who work after age 65 will continue to save for retirement.

Although traditional defined benefit pension plans will continue to lose ground to 401(k) plans and other defined contribution retirement plans, institutional money managers will make up for lost pension assets by capturing more 401(k) plan assets, according to the survey participants.

By 2010, institutional funds will manage 21% of all 401(k) plan assets, the participants said.


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