woman sitting on empty land on her suitcase waiting (Photo: Shutterstock)

The COVID-19 crisis has created a situation where tensof millions of American workers are in danger of seeing theirretirement savings depleted and has led to extreme disruption indaily life, financial markets, and the economy—especiallyemployment.

As of May 28, more than 40 million Americans filed claims forunemployment benefits in the previous 10 weeks. The deadlycombination of levels of unemployment not seen since the GreatDepression, a significant market downturn, and the ongoing problemof severe friction in plan-to-plan portability foretells seriousimplications for retirement outcomes.

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
NOT FOR REPRINT

© 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.

Compliance
Employee-Paid
Employer-Paid
Retirement
Defined Contribution
Retirement Regulation