People are looking to employers for help
As defined contribution (DC) plans have become the sole employer-sponsored retirement savings plan for most Americans, the need for solutions that help retiring employees convert savings into income continues to gain momentum.
Employees want someone else to handle retirement planning for them
73% of plan participants wish they could push an easy button when it comes to planning for retirement.¹
More retirees than ever are remaining in plan
The number of participants with plan balances three years after retirement has more than doubled since 2009.2
Income strategies make plans more attractive
Three in four say they would likely stay in plan if there were a retirement income option.¹
Using real-life data to better understand American workers’ behaviors and create more effective retirement income solutions
This guide offers our latest research and insights into the retirement income challenge and an overview of the emerging spectrum of strategies designed to help DC plan participants translate savings into income. It also highlights a range of considerations plan sponsors should consider when determining if a specific retirement income strategy is right for their plan.