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Share Name | Share Symbol | Market | Type |
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Morningstar Inc | NASDAQ:MORN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 335.28 | 134.12 | 336.52 | 0 | 09:09:40 |
Using the model, Morningstar researchers found workers without future defined-contribution plan participation are over twice as likely to run short of money in retirement
Morningstar Retirement, part of Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment insights, today announced the Morningstar Model of U.S. Retirement Outcomes — a simulation tool that considers individual characteristics, healthcare costs, and projected longevity to assess retirement income sufficiency. Through use of the model, the Morningstar Center for Retirement & Policy Studies published new research which examines potential retirement inadequacy among American workers.
“The model paints a clear picture: Participating in an employer-sponsored defined-contribution plan significantly lowers the risk of retirement shortfalls,” said Spencer Look, the report’s lead author and associate director of retirement studies for the Morningstar Center for Retirement & Policy Studies. “Our model not only sets a new standard in retirement research, but we’ll be able to identify actionable insights for policymakers and plan sponsors to improve product design, all with the goal of helping more Americans reach their retirement goals.”
The research report, “Beyond the Retirement Crisis Headlines: Why Employer-Sponsored Plans Are the Key to Retirement Adequacy for Today's Workers,” suggests that certain demographics may be more likely to run short of money in retirement due to variables such as their current retirement savings, levels of financial resources, existing disparities in retirement account balances, and whether they participate in a defined-contribution plan. Takeaways from the report include:
The Morningstar Model of U.S. Retirement Outcomes
The Morningstar Model of U.S. Retirement Outcomes allows researchers at the Morningstar Center for Retirement & Policy Studies to study retirement readiness across the U.S. and help predict the effects of policy, product design, behavioral changes, and other variables on retirement preparedness. The Model includes stochastic modules for both accumulation and decumulation phases that can assess the prospects of future retirement income adequacy for today’s workforce. Future uses of the model will aim to further simulate retirement scenarios to inform debates on how best to enhance retirement outcomes for all. For more information and frequently asked questions, click here.
About The Morningstar Center for Retirement & Policy Studies
The Morningstar Center for Retirement & Policy Studies has the mission to help improve the U.S. retirement system by arming decision- and policy-makers with unbiased and actionable data and analysis. The Center draws on the capabilities of Morningstar Retirement and Morningstar Investment Management LLC to fuel its commitment to helping people reach better retirement outcomes.
About Morningstar Retirement
Morningstar Retirement empowers investor success by providing research- and technology-driven products and services that help individuals reach their retirement goals. With advisory services provided by Morningstar Investment Management LLC, Morningstar Retirement supports and collaborates with workplace retirement plans and other industry players to differentiate their services, stay competitive, and reach new markets, all in service of building a better retirement system. Morningstar Retirement not only helps people save for the retirement they want but helps them make their money last once they get there.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and solutions that serve a wide range of market participants, including individual and institutional investors in public and private capital markets, financial advisors and wealth managers, asset managers, retirement plan providers and sponsors, and issuers of fixed-income securities. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $316 billion in AUMA as of June 30, 2024. The Company operates through wholly-owned subsidiaries in 32 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on X (formerly known as Twitter) @MorningstarInc.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements as that term is used in the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations about future events or future financial performance. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and often contain words such as “consider,” “future,” “maintain,” “may,” “expect,” “potential,” “anticipate,” “believe,” “continue,” “will,” or the negative thereof, and similar expressions. These statements involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from what we expect. For us, these risks and uncertainties include, among other things, failing to innovate our product and service offerings or anticipate our clients’ changing needs. A complete description of these risks and uncertainties can be found in our filings with the Securities and Exchange Commission (SEC), including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. If any of these risks and uncertainties materialize, our actual future results and other future events may vary significantly from what we expect. We do not undertake to update our forward-looking statements as a result of new information or future events or otherwise, except as may be required by law. You are, however, advised to review any further disclosures we make on related subjects, and about new or additional risks, uncertainties and assumptions in our future filings with the SEC on Forms 10-K, 10-Q and 8-K.
©2024 Morningstar, Inc. All Rights Reserved.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240729211475/en/
Landon Hudson, +1 312 696-6037 or newsroom@morningstar.com
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