The long-term shift from traditional pensions to defined contribution (DC) plans puts employees in charge of their retirement savings—and needing help.
Retirement planning often focuses on risks: not saving enough or outliving hard-earned savings, enduring a sharp market downturn and possible surprise expenses. While these pitfalls are very real, it’s understandable that they may make individuals hesitant to spend their savings in retirement.
The first step toward offering participants lifetime income is to address misperceptions.
