man carrying dollar sign chasing clock on legs Greater interaction with retirement plan participants will be crucial. (Photo: Shutterstock)

The lack of pension adequacy indicates a systemic failure of the retirement plan system, and major changes will be needed to create a new generation of defined contribution plans: DC 3.0.

That’s according to research from Willis Towers Watson’s Thinking Ahead Institute, which says that over the next 5–10 years that third-generation of plans must tackle five different issues: coverage, adequacy, technology, a lack of trust and a lack of engagement with participants.

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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