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students walking Many academic and non-profit employers are trying to address the needs of the present employment marketplace with a retirement platform that is rooted in the past. (Photo: Shutterstock)

Recent news articles have noted that several colleges are joining forces to pool their employee retirement accounts and lower administrative costs.

This trend reflects a simple fact: Academic and non-profit institutions, like all employers today, are facing workplace pressures due to rising costs, disruptive technology, and the needs of a new generation of employees. To attract and retain talent in this environment, institutions must offer the most attractive benefits programs – without straining their administrative or financial resources.

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