The FIDx Five: Ain’t Got Nothin’ But Work Four Days a Week

Retirement, Annuity, & Fintech Insights 

Could a shorter work week help older workers better transition into retirement? See why future retirees and companies could both benefit from a shift and then stick around for four other stories from the past week.

In the Workplace… for a Little Longer
A recent pilot program of a four-day workweek in the UK showed sick and PTO days dropped 65%. Some believe the benefits could change retirement by keeping older workers to stay in the game longer. 

Source: Fortune, “A 4-day workweek could be the key to helping older workers transition into retirement,” 3/2/23

An Era of Product Change
Thanks to higher interest rates, the annuity industry is ramping up innovating products. There’s a flood of new changes rolling out.

Source: Life Annuity Specialist, “As Rates Rise, Innovation and Changes Sweep Through Annuities,”3/1/23

No Retirement for Many
Many Americans are unfortunately living for now—and need help. According to US Census Bureau, 50% of women and 47% of men in America have no retirement savings.

Source: CBS News, “Millions of Americans nearing retirement age with no savings,” 3/1/23

ESG: The First Veto
The US Senate overturned an ESG investing rule for fiduciary retirement fund managers from the Labor Department. Will the 50-46 vote be vetoed by President Biden?

Source: CNBC, “Senate overturns federal rule on ESG investments, Biden vows to veto,” 3/1/23

A Default Retirement Option?
The Insured Retirement Institute (IRI) has created a blueprint to help get more annuities into retirement accounts. Here’s a breakdown of what the trade group is talking about.

Source: Think Advisor, “3 Annuity Rule Changes on IRI's New Wish List,”2/28/23

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