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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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