Market Insights

Sixty-two percent of small business owners say inflation is their biggest stressor, according to the study.

The retirement industry is at a pivotal moment – after a decade of strong growth fueled increased accessibility of defined contribution plans, the retirement industry now faces significant challenges as well as opportunities, according to McKinsey.

More than one-third of survey respondents said paid leave would have made their recovery easier.

This new plan, introduced under SECURE 2.0, have lower employee contribution limits compared to traditional 401(k)s and allow for reduced recordkeeping requirements, which reduce administration costs.

The number of Gen X managed account holders with at least 3 months of emergency savings more than doubled from their point of enrollment in a managed account, which improves their financial confidence.

Manager engagement fell from 30% to 27%, while individual contributor engagement remained flat at 18%.