Defined Contribution

Here are some of the most prevalent financial issues that have affected both employees and employers in 2020.

While the majority of savers welcome the advice of plan advisors, only 41 percent of respondents said an advisor has reached out to them in the past year.

With all that has occurred in 2020, the passing of the SECURE Act and what it allows has taken on new importance.

If only 10 percent of the roughly 600,000 employers that currently offer workplace retirement plans suspended or reduced their contributions, the long-term impact would be huge.

J.P. Morgan Asset Management surveyed owners of businesses with between five and 50 employees and annual revenues ranging from $50,000 to $20 million about their 401(k)s.

And one in four respondents say their finances have worsened over the past six months, according to a new Willis Towers Watson survey.