Defined Contribution

“Plan sponsors are taking action, leveraging flexible deal structures and favorable market conditions to deliver long-term security for their participants," said Elizabeth Walsh, vice president and head of U.S. Pensions at MetLife.

Recent legislative action in the U.S. Senate highlights a growing bipartisan interest in promoting and expanding employee stock ownership plans (ESOPs).

More clients have opinions on retirement income than they did four years ago, consultants and advisors said.

“Fear mongering” has driven people to claim benefits earlier because of loss of trust in the SSA, resulting in a large number of Americans claiming benefits while still employed, according to the Schwartz Center for Economic Policy Analysis. 

The IRS must provide a safe harbor permitting all plan administrators to rely on wage information on W-2s when determining whether employees have exceeded the catch-up wage threshold of $145,000, recommends the American Institute of CPAs.

While diversification and return potential drive interest, most advisors say greater ERISA/regulatory clarity is also needed, according to Empower’s survey.