(Photo: Shutterstock)
Retirement savings balances are falling far short of what's needed for people to retire.
Since most employees are cognizant of the fact that they need to save for retirement, and employers that offer 401(k) plans to their workers generally make a pretty stout effort at educating employees about contribution levels, the puzzle to solve is why so many people fall so far short.
The demise of the defined contribution plan plays a role, of course, as do salary levels and many other factors to lesser or greater extents, but a working paper from the Center for Retirement Research at Boston College has identified four primary causes for the shortfall.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
