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Younger people may be better prepared for retirement because of regulations imposed in the wake of the Pension Protection Act of 2006 and innovations like auto-enrollment and auto-escalation.

Retirement readiness is within reach for participants in defined contribution plans, according to a new John Hancock white paper, although the odds of their being prepared increase as ages decrease.

The report, “State of the Participant 2020: readiness within reach,” finds that the older participants are, the lower the percentage of those considered retirement ready—defined as having sufficient projected assets by the time they hit the normal Social Security age to replace at least 70 percent of their preretirement earnings.

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Marlene Satter

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

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