Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Reaching retirement is difficult for many employees, but shaky 401(k) accounts aren’t the only culprit. At some point, one in four employees suffers from a disability that takes him or her out of the workforce for an average of 31.5 months, and this period away from work can be financially devastating for those who aren’t covered by disability insurance, says Alex Dumont, associate vice president of product marketing at The Standard.

“People end up drawing into their 401(k) savings just to get by,” Dumont says. “They don’t have private pension coverage; at best, they have 401(k) defined benefit plans, and they’re forced to draw upon those plans before retirement just to be able to weather the storm.”

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

Dig Deeper



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.