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CNBC
a day ago
- Business
- CNBC
J.P. Morgan's Meera Pandit: Budget bill would be short-term positive, but deficit question remains
Meera Pandit, J.P. Morgan Asset Management global market strategist, joins CNBC's 'Squawk on the Street' to market catalysts abroad, whether the market is pricing in President Trump's budget bill, and more.
CNBC
2 days ago
- Business
- CNBC
Watch CNBC's full discussion with J.P. Morgan's Meera Pandit and Neuberger Berman's Shannon Saccoica
Meera Pandit, J.P. Morgan Asset Management global market strategist, and Shannon Saccocia, Neuberger Berman chief investment officer of wealth, join CNBC's 'Closing Bell' to discuss market outlooks.
Yahoo
25-06-2025
- Business
- Yahoo
J.P. Morgan Asset Management Survey Reveals Plan Sponsors' Commitment to Proactive Retirement Strategies and Financial Wellness Programs
83% of plan sponsors feel a strong responsibility for employees' financial well-being NEW YORK, June 25, 2025 /PRNewswire/ -- J.P. Morgan Asset Management today released its sixth U.S. defined contribution (DC) plan sponsor survey findings, highlighting a growing commitment among plan sponsors to enhancing retirement outcomes and equipping participants with essential financial tools. This year's research, Scaling what works, shaping what's next, captures insights from 750 U.S. plan sponsors, providing a comprehensive snapshot of their perspectives and actions in refining retirement offerings. Plan sponsors are increasingly expanding financial wellness initiatives and developing innovative retirement income decumulation strategies, demonstrating increased engagement in supporting employees. The survey highlights how generational differences within workforces influence plan sponsors in addressing the unique needs of Gen X, Millennials, and Gen Z, each offering distinct perspectives on retirement planning. Notably, only 22% of plan sponsors with a significant Gen X employee base express strong confidence that their employees are saving adequately for retirement. This underscores the need for targeted strategies to support Gen X, especially as they near retirement. "Our 2025 Plan Sponsor Survey highlights a shift in retirement planning with plan sponsors recognizing the need for proactive strategies to enhance participant outcomes," said Alyson Frost, Head of Retirement Insights at J.P. Morgan Asset Management. "The findings emphasize the important role of financial wellness programs in boosting employee productivity and engagement. Plan sponsors are committed to providing the necessary tools and education for long-term financial security, and we anticipate further adoption of innovative strategies to meet the diverse needs of today's workforce." Key Findings Commitment to Financial Wellness: Over 80% of plan sponsors acknowledge their role in supporting employee financial wellness, with many expanding benefits accordingly. However, critical programs, such as emergency savings, student loan debt assistance and debt management benefits, remain under-implemented, particularly among smaller employers. Proactive Plan Design: Nearly half (49%) of respondents now favor a proactive approach to plan design reporting higher satisfaction across key measures, including participation and contribution rates, investment performance and participation education quality. Despite this progress, there is still opportunity to continue to increase contribution percentages and participant engagement. Expanding Responsibilities: Plan sponsors face growing responsibilities, highlighting a need for more education. Over half are unaware of their fiduciary roles, and one-third lacking understanding of their target date funds (TDFs), despite their widespread use. Nearly 80% believe their plans should generate retirement income, with 61% considering adding in-plan income options this year. Action Steps for Plan Sponsors To maximize the effectiveness of their offering, plan sponsors should consider embracing proactive plan design strategies that cater to the diverse needs of a multi-generational workforce, including leveraging automatic features and investment defaults to enhance participant engagement and satisfaction. As retirement income solutions become increasingly central to DC plans, plan sponsors are encouraged to establish clear objectives for in-plan solutions, carefully assessing which products best align with their goals and participant demographics to meet the growing demand for income-generating investments. Enhancing participant education and communication is also crucial, as fewer than half of respondents express high satisfaction with their providers' efforts in this area. By streamlining the participant experience through seamless integration of educational resources and robust communication strategies, plan sponsors can empower participants to make informed decisions, particularly during critical phases such as onboarding and retirement preparation. "Our survey highlights the importance for plan sponsors to refine their offerings by embracing thoughtful design and making strategic investments, which can greatly enhance participants' retirement readiness," said Meghan Conklin, Vice President, Retirement Insights, at J.P. Morgan Asset Management. "Understanding how regulatory advancements, such as SECURE 2.0, can be leveraged effectively in plan design is crucial, ensuring that options not only complement but also adapt to a more modern workforce." For more information about the survey findings, please visit the DC Plan Sponsor Survey Findings dedicated website. MethodologyFrom January 7 through January 31, 2025, we partnered with Greenwald Research, a market research firm based in Washington, D.C., to conduct an online survey of 750 plan sponsors. All respondents are key decision-makers for their organizations' DC plan. All organizations represented have been in business for at least three years and offer a 401(k), 403(b) or 457 plan to their domestic U.S. employees. Results aggregated across plan size categories were weighted to reflect the size distribution of plans in the U.S. DC universe. About J.P. Morgan Asset ManagementJ.P. Morgan Asset Management, with assets under management of $3.7 trillion (as of 3/31/2025), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information, visit: JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorganChase had $4.4 trillion in assets and $351 billion in stockholders' equity (as of 3/31/2025). The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at View original content to download multimedia: SOURCE J.P. Morgan Asset Management
CNBC
24-06-2025
- Business
- CNBC
The top private and public colleges for financial aid — 5 offer average scholarships of more than $50,000
The federal student loan system is facing a massive overhaul, which could result in less college aid. But higher education is only getting more expensive. To bridge the gap, some schools are offering substantial financial aid packages, according to The Princeton Review. College tuition has surged by 5.6% a year, on average, since 1983, significantly outpacing other household expenses, a recent study by J.P. Morgan Asset Management found. For the 2024-25 school year, tuition and fees plus room and board for a four-year private college averaged $58,600, up from $56,390 a year earlier, according to the College Board. At four-year, in-state public colleges, it was $24,920, up from $24,080. And yet, the Trump administration's budget proposal for fiscal 2026 calls for scaling back financial aid, including reducing the maximum federal Pell Grant award to $5,710 a year from $7,395, as well as curbing the federal work-study program. The proposed cuts would help pay for the landmark tax and spending bill Republicans in the U.S. Congress hope to enact. More from Personal Finance:Trump aims to slash Pell GrantsIs college still worth it? It is for most, but not allWhat to know before you tap your 529 plan "Inflation and cuts in federal and state spending are causing schools to increase tuition, in some cases dramatically," said Robert Franek, editor in chief of The Princeton Review. However, "it's really not what colleges are charging that matters, it is what actual students and families are paying after scholarships and grants are deducted — that's what students and their parents need to focus on," Franek said. Grants are considered the most desirable kind of financial assistance because they typically do not need to be repaid. "Grants are the magic word," Franek said. This year, there are added concerns about the economy and dwindling federal loan forgiveness options. As a result, price is now a bigger consideration among students and parents when choosing a college, other reports also show. To that end, The Princeton Review ranked colleges by how much financial aid is awarded and how satisfied students are with their packages. The 2025 report is based on data from its surveys of administrators and students at more than 650 colleges in the 2024-25 school year. Among the top five private schools on The Princeton Review's list, the average sticker price — including tuition and fees plus room and board — was around $90,000 in 2024-25. The average scholarship grant awarded to students with need was more than $66,000. 1. Williams CollegeLocation: Williamstown, Massachusetts Sticker price: $90,750Average need-based scholarship: $74,113Average total out-of-pocket cost: $16,637 2. California Institute of TechnologyLocation: Pasadena, CaliforniaSticker price: $86,181Average need-based scholarship: $71,378Average total out-of-pocket cost: $14,803 3. Yale UniversityLocation: New Haven, ConnecticutSticker price: $87,150Average need-based scholarship: $69,164Average total out-of-pocket cost: $17,986 4. Reed CollegeLocation: Portland, Oregon Sticker price: $87,010Average need-based scholarship: $50,413Average total out-of-pocket cost: $36,597 5. Pomona CollegeLocation: Claremont, CaliforniaSticker price: $91,134Average need-based scholarship: $67,027Average total out-of-pocket cost: $24,107 Among the five public schools on this list, the average scholarship grant awarded in 2023-24 to students with need was more than $20,000. 1. University of North Carolina at Chapel HillLocation: Chapel Hill, North CarolinaSticker price (in-state): $24,134Average need-based scholarship: $19,921Average total out-of-pocket cost: $4,213 2. New College of Florida Location: Sarasota, FloridaSticker price (in-state): $20,271Average need-based scholarship: $16,483Average total out-of-pocket cost: $3,788 3. University of Michigan, Ann ArborLocation: Ann Arbor, Michigan Sticker price (in-state): $34,176Average need-based scholarship: $26,860Average total out-of-pocket cost: $7,316 4. University of VirginiaLocation: Charlottesville, VirginiaSticker price (in-state): $40,313Average need-based scholarship: $27,233Average total out-of-pocket cost: $13,080 5. Truman State UniversityLocation: Kirksville, MissouriSticker price (in-state): $23,076Average need-based scholarship: $10,889Average total out-of-pocket cost: $12,187
Business Recorder
18-06-2025
- Business
- Business Recorder
UK stocks end slightly higher after inflation data; focus on Fed, BoE meetings
Britain's FTSE 100 rose on Wednesday as investors weighed the last domestic inflation reading ahead of key central bank meetings in the U.S. and the UK, though Middle East tensions tempered market optimism. The blue-chip FTSE 100 index ended 0.1% higher, as heavyweight banks recouped lost ground to rise 1.1%. British inflation slowed in May, as expected by the Bank of England, which is widely predicted to keep interest rates on hold when it meets on Thursday. 'Escalating tensions in the Middle East, and the upward pressure this is putting on oil prices, will only add to the Bank of England's concern about easing rates too quickly,' said Zara Nokes, global market analyst at J.P. Morgan Asset Management. 'The Monetary Policy Committee will face a tougher choice when meeting again in August, given the combination of still-sticky inflation and evidence that the labour market is quite clearly cooling.' The conflict between Iran and Israel entered its sixth day, with increasing concerns over direct U.S. military involvement after Iranian Supreme Leader Ayatollah Ali Khamenei rejected U.S. President Donald Trump's demand for unconditional surrender. UK stocks fall as Middle East conflict hits risk appetite Pharmaceutical and biotechnology stocks were under pressure, with GSK and AstraZeneca both down 2.1% and 1.1%, respectively, after Trump said pharma tariffs were coming soon. The midcap index climbed 0.3%, with shares of ME Group jumping 9% after the vending machines operator confirmed it is evaluating strategic options, including a sale. Electronics retailer AO World posted record profits in fiscal 2025. Its shares, however, closed 3.6% lower after an initial spike. Across the Atlantic, the Federal Reserve's policy decision later in the day will be under scrutiny as investors try to gauge expectations for rate cuts. Other economic data showed that UK house price growth halved in April.
