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As a result of the pandemic, 40 to 50 million people found themselves unemployed. Further, 6 in 10 workers who experienced income or job loss believe the pandemic has negatively impacted their ability to save for retirement and 1 in 4 employees have reduced or stopped contributions in the past year. I have previously explained the impact COVID-19 has made on the industry and how it will impact its future.

The slow pace of evolution in the industry poses a threat to the future of retirement security for individuals. As we inch closer to a post-pandemic world, we realize it’s easier to identify the issues than to actually solve them.

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