Stretching the Match
BlackRock Calls for Expanding Access to Retirement Plans
One measure is to encourage MEPs by eliminating the “nexus” requirement.
Millennials Benefiting from Retirement Plan Modernization
They are on track to replace 75% of their income, compared to 64% for Americans overall.
Americans on Track to Replace 64% of Income in Retirement
Participants who work with a traditional or online adviser are on track to replace 116% of their income. Those working with any paid adviser, 91%, and those with no adviser, 51%.
Sponsors Making Deliberate Enhancements to Retirement Plans
Concerned that workers are not saving enough, employers are hoping to improve their financial security, Willis Towers Watson found in a survey.
Default Rates for Auto Plan Features Moving Up
More plans are auto enrolling at a greater than 3% default deferral rate, and 13% of plans are increasing deferrals at more than 1% annually, a PSCA survey found.
The Next Big Thing
More Detail From Rep. Neal’s Automatic Retirement Plan Act
All employees would have 6% of their income contributed to a workplace retirement plan and have these contributions automatically escalated each year.
