Defined Contribution

Today's pre- and current retirees know they will face challenges but are willing to make adjustments, trade-offs and course corrections to improve their quality of life as retirement continues to last longer than ever, says a new report.

The amount 401(k) participants say they need to retire comfortably inched up this year, while confidence in their ability to attain retirement goals dropped amid economic pressures.

Plan sponsors offer strategies for helping participants who have fallen behind on saving for retirement but warn there is a fine line between helping and intruding.

In the past two years - perhaps due to the Great Resignation - there's been a 20% increase in left-behind assets in retirement plans when employees switch jobs, according to a new report.

Most employees expect to work longer, indicating they plan to retire at age 65 (up from 64 in 2022), and need to save more than they did a year ago, according to Northwestern Mutual.

While most states are beginning to offer hybrid DB/DC plans, Alaska has chosen to move future hires into defined benefit retirement plans.