“With 50% of employees not confident they can turn their retirement savings into a consistent stream of income for the rest of their lives, many organizations are rethinking pension strategies and how best to support their workforce,” said Scott Jarboe, Mercer’s U.S. defined benefit segment leader.

Employers can help address the issue by providing access to financial literacy programs, services and advice to improve financial and longevity literacy rates and overall financial security, says TIAA’s Kourtney Gibson.

Tesla's Board Chair received a letter from the leaders of the American Federation of Teachers and 11 other pension funds, “demanding Mr. Musk’s full time attention on Tesla.”

Since one in four workers are not enrolled in their employer-sponsored 401(k) plan, the Auto Reenroll Act, sponsored by Senators Tim Kaine and Bill Cassidy, M.D., would reenroll workers automatically by permitting more frequent opportunities for employees to opt in.