Top of the Agenda
BlackRock's fourth annual Retirement Survey asked, "What were successful retirees doing right when they planned?"
Retirement Survey says... participants are not saving enough, and plan sponsors agree!
D.I.Y. is a great thing...if you have time, interest and expertise to manage investments in their retirement plans.
Traditional sources of secure income are an important financial and psychological foundation for today's confident retirees. But what about today's participants who can't rely on traditional pensions?
What are the three things plan sponsors need to "get right" to reduce fiduciary risk in today's world of retirement?
The trend is unmistakable: traditional sources of retirement income will play less of a role in tomorrow's retirement – and that's why we need to review DC income options today.
Plan sponsors need to think about how to help participants use their longevity to their advantage as they both save for and spend in retirement.
When it comes to DC plans, fewer areas have changed more than meeting participants' short term cash needs. It's time to take a hard look at stable value, money markets and alternative "risk free" approaches.
Step back and gain perspective. Plan sponsors should consider how DC plans have evolved and start to think about how to further their evolution from a savings plan to a lifetime income plan.
The single biggest fear soon-to-retire workers have is running out of money in retirement. Plan Sponsors can act now to replace anxiety with certainty in 2012.
A renewed commitment to helping participants understand the challenges of saving an adequate amount for retirement will help them build better futures.
How can plan sponsors meet their fiduciary obligations? Plan simplification and increasing transparency around fees are a great place to start.
With DC plans becoming increasingly complex, it makes sense for plan sponsors to work with advisors who specialize on DC plans.
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