Retirement Trends

It is in a company's best interests to consider their 401(k) plans and how well they are doing for ALL employees - and offer financial wellness to those who are struggling financially, according to a recent WTW webcast.

Some of the new retirement regulations are mandatory, such as increases in mandatory distributions, while some are optional, like the student loan matching contributions, but the changes are significant for every generation.

At TIAA's recent "Securing Retirement in America" event, experts discussed the Lifetime Income for Employees Act, legislation introduced in Congress in 2023, and other solutions to improve lifetime income for workers.

Investors see a range of threats on the horizon in 2024, although AI will unlock new investment opportunities, says a Natixis survey of 500 investors who manage retirement and institutional assets.

Plan sponsors must evaluate the specific features and services offered across the spectrum of personalized financial solutions, including financial wellnessand managed account programs, then assess the value for their participants.

Defined contribution plans are poised for a major shift, as participants take a more active role in retirement planning with personalized TDFs, advisor managed accounts and lifetime income solutions, according to a Wilshire report.