Retirement Landscape Evolving
As the 2025 NBA season approaches, veteran guard Malcolm Brogdon has announced his retirement, citing the mental and physical toll of the game. Brogdon's decision comes amidst a broader shift in the personal finance landscape, with retirement planning and investing strategies undergoing significant changes.
ESG Factors Take Center Stage
One key development is the growing prominence of ESG (environmental, social, and governance) considerations in investment decisions. A recent Morgan Lewis publication highlighted new disclosure requirements for proxy advisors in Texas, aimed at increasing transparency around the influence of non-financial factors on proxy voting recommendations.
Retirement Plan Committees Adapt
In response to these evolving trends, retirement plan committees are working to uphold their fiduciary duties. Hinshaw & Culbertson partner Anthony Antognoli recently co-presented a webinar on understanding ERISA (Employee Retirement Income Security Act) obligations for these committees.
High-Yield Savings Gain Popularity
Separately, high-yield savings accounts have become an increasingly attractive option for investors, with some offerings reaching annual percentage yields (APYs) of up to 5% - a stark contrast to the national average savings rate of just 0.40%.
Uneven Impact on Homeowners
However, the news is not entirely positive, as property tax hikes in Chicago are disproportionately impacting low-income families on the city's South and West Sides. This trend is mirrored in other markets, with mortgage delinquencies rising in certain regions.
TL;DR
- NBA veteran Malcolm Brogdon announces retirement amid broader shifts in personal finance
- ESG factors are gaining prominence in investment decisions, prompting new disclosure requirements
- Retirement plan committees are adapting to evolving fiduciary duties under ERISA
- High-yield savings accounts offer attractive APYs, but property tax hikes and mortgage delinquencies are hurting some homeowners