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Where Does the US Rank in Global Retirement Security?



Chad Parks is Founder, President, and CEO of Ubiquity Retirement + Savings, formerly The Online 401(k), has helped savers contribute over $1.4 billion towards their retirement since 1999. As one of the first flat-fee-for-service small business plan providers in the nation, Ubiquity delivers peace-of-mind with zero hidden-fees in the fine print. The company is headquartered in San Francisco with satellite offices from coast-to-coast. Read More...

Parks started out as a broker in the financial services industry by growing a portfolio of individual clients at San Francisco’s Piper Jaffray. Driven by a desire to better serve his clients while anticipating the phasing out of the traditional broker model, Parks left Piper Jaffray in 1997 to obtain his CFP designation and start his own fee-for-service, independent financial planning practice, Retirement & Education Group, Inc.

In his financial planning practice, Parks came across many small business owners looking for cost-effective and quality retirement plans. Finding the small business market highly neglected and underserved, Parks saw the opportunity and took it by launching The Online 401(k). Today, Ubiquity serves more than 7,000 small business customers in 50 states, providing solutions both directly and through partners, such as Zenefits, Charles Schwab & Co. and Morningstar, as well as payroll companies, financial planners and CPAs.

Parks has been quoted in many financial services as well as national publications such as The Wall Street Journal, The New York Times, Fox Business, Yahoo! Finance, USA Today, CNN Money, Bloomberg Wealth Manager, Business Week, Entrepreneur and Plan Sponsor for his considerable work performed in the space of small business retirement as well as his foray into documentaries with his independently produced Broken Eggs Film, released in 2014.

With his extensive work in Washington DC in getting legislation passed in order to stop the practice of hiding fees in the fine print, Parks has become the go-to expert on public policy as it relates to 401(k), as well as the looming retirement crisis in America, and what we can do to fix it.


October 27, 2015 at 8:00 am
Retirement News


When it comes to global retirement security, the U.S. is ranked 19th out of 150 countries, according to Natixis Global Asset Management’s 2015 Global Retirement Index Report. The index considers health, material comforts, the environment and, of course, retirement access and savings when determining rankings. It’s the third year in a row the U.S. barely eked out a spot in the top 20.

As a global superpower, this ranking is abysmal. Many issues contribute to this looming retirement crisis in America, among them a lack of education and the widening gap in income equality, as well as the U.S. having one of the most cripplingly expensive health care systems on the globe.

While U.S. partisan politics are part of the reason we have failed to move up in the rankings, we can certainly copy some other countries’ success strategies. International governments recognize the critical importance of taking care of their people from cradle to grave, not just while they are contributing to the success of their GDP.

The top five countries in the Natixis report are:

1) Switzerland

2) Norway

3) Australia

4) Iceland

5) Netherlands

These countries are ranked highest because they see retirement as a basic human right that should be available to everyone.

Access, incentives and automatic features are proven

Politics aside, U.S. employers realize that health care and retirement savings are the top two most sought-after benefits in the workplace. New businesses are launching daily that are focused on empowering employees in what has become a self-directed savings environment. By including incentives such as an employer match and auto-enrollment, we have a chance to make a dent in progressive retirement planning and rise in the ranks as a global leader.