Retirement

The firm has also offered payments to clients to give up some retirement products it sold in prior periods in an effort to limit future obligations.

The agreement means Fidelity will serve 120,000 combined participants with total plan assets worth approximately $14 billion for at least the next five years.

White Rose intends to abandon the pension plan, the Third Amended and Restated Di Giorgio Retirement Plan, which ended Oct. 27.

Guilt for not putting more toward retirement savings is also weighing on millennials.

U.S. institutional investors say their top concern is funding status, with a majority of pensions saying they intend to improve it.

Congress mandated the increase, which will not be retroactively applied to plans terminated before 2015.