According to a Fidelity Investments report, Americans IRA and 401(k) retirement savings accounts are reaching record numbers. FOX Business’ Ashley Webster with more.
WASHINGTON (AP) — The federal agency that oversees the financial condition of U.S. banks says it will offer voluntary early retirement to about 20% of its 5,800 employees to create a more highly skilled workforce.
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The Federal Deposit Insurance Corp. announced the move Thursday, saying it isn’t designed to reduce its budget or the total size of the workforce.
About 42% of the current workforce is eligible for retirement within five years, the FDIC says. In addition, the FDIC plans to close a handful of field offices. No staff involved in examining banks will be affected, it says.
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“This program will enhance our agility, preparedness and technological transformation,” FDIC Chair Jelena McWilliams said in a statement.
