Americans are confident DC plans will help them meet their retirement goals, ICI found.
The Bipartisan Policy Center and Ric Edelman announce the launch of “Funding Our Future: A Campaign for America’s Retirement Security.”
The tool analyzes administration fees as well as individual mutual fund fees.
They earn less than older generations, are less likely to participate in a retirement plan, and will have to contend with longer life spans and rising health care costs.
In conversation with Jeff Kletti, head of investments at Wells Fargo Institutional Retirement and Trust, PLANADVISER gets an inside view of some emerging—and some familiar—defined contribution plan trends.
They want help with investments, participant education and fiduciary responsibilities.
However, advice seeking increases with age, account balance and annual contribution level.
Higher-income workers, making $90,000 a year, will pay $277,000, according to America’s Best 401k.
All employees would have 6% of their income contributed to a workplace retirement plan and have these contributions automatically escalated each year.