The 2024 Annual Retirement Study by Allianz Life found that 63% of people across all age groups are more worried about running out of money in retirement than they are about dying, up from 57% in 2022. Younger generations are even more concerned about longevity risk, according to the study, with 71% of Generation X and 64% of millennials expressing anxiety about it, compared with 53% of baby boomers.

Even high-net-worth individuals make financial missteps in retirement, writes Lane Marmon of Wealth Enhancement Group, who highlights five common mistakes. Among them are not changing asset allocations, underestimating health care costs and not updating insurance policies.

With Social Security's financial future uncertain, lawmakers and others have proposed a number of possible fixes. Here is a look at some of the ideas, including adjusting tax policy, raising the retirement age and reducing benefits for high earners.

A recent survey by Redfin found that more than half of people are struggling to pay housing costs, and some, including 16% of Generation X and 14% of millennials, have tapped their retirement accounts to pay rent or a mortgage. Other sacrifices people reported making due to high housing costs include taking fewer vacations, skipping meals and working more.

Wall Street is setting its sights on corporate earnings as the next catalyst for the ongoing stock market rally, with strategists forecasting robust earnings growth bolstered by global economic expansion. Despite high valuations, confidence in a strong earnings season, particularly from the technology sector, has prompted adjustments to year-end S&P 500 projections upwards, countering concerns of market overextension and maintaining investor enthusiasm for equities.

The New Jersey Division of Investment has separated out assets of the $32 billion Police and Firemen's Retirement System, which wants to manage its own investments. "This is a seminal moment for our members who have rightly demanded that the pension system they pay into is transparent, accountable, conflict-free and high-performing," said Ed Donnelly, chair of the pension fund.

A five-student team has won a University of Chicago competition to address Chicago's pension funding crisis. The winning proposal would save Chicago $200 million to $400 million annually through nine initiatives, including seven meant to increase contributions.

Health savings accounts are not use-it-or-lose-it instruments, and they can come with compelling tax advantages, experts say. HSA distributions can be put toward a variety of bills, and older Americans can use the money for nonmedical expenses without paying a penalty.

Medicare's income-related monthly adjustment amount surcharges can have a significant impact on your financial situation, so engaging in income planning and being aware of the thresholds is crucial, experts say. "Make one dollar over the bracket threshold, you and your spouse (if you're married filing jointly and both enrolled in Medicare) will pay that bracket's IRMAA," says Jennifer Storey of Homrich Berg.

Near-term inflation expectations are holding steady, with consumers expecting that inflation will be measured at 3% one year from now, according to the latest survey from the Federal Reserve Bank of New York. The survey also found that consumers' three-year inflation expectations have risen while their five-year inflation expectations have declined.

The strong bipartisan votes in both chambers on the SECURE Act and SECURE 2.0 are evidence that there is much more that unites us than divides us on the issues surrounding retirement security. Chairman Bernie Sanders, I-Vt., of the Senate Committee on Health, Education, Labor and Pensions, unveiled some startling statistics during the committee's hearing on Feb. 28. Learn more.

NCPERS spoke with Bill Atwood, executive director and CIO of the $7.7 billion Illinois Firefighters' Pension Investment Fund, and Rich White, executive director of the $10 billion Illinois Police Officers' Pension Investment Fund, about the process of consolidating hundreds of municipal funds and what's next for IFPIF and IPOPIF. Learn more.