Corebridge Financial Inc

A Schroders survey reveals 51% of US workers expect to retire with under $500,000, as 27% cut contributions or borrowed from plans. The target nest egg dropped to $1.2 million.

Equitable Holdings and Corebridge Financial have agreed to combine in an all-stock transaction valued at approximately $22 billion. The merged entity will manage over $1.5 trillion in assets and serve more than 12 million customers.