Consultants say now is the time to evaluate interest rate and equity market risk strategies, as well as whether and how to take advantage of pension funding relief...
Some people have not recovered from economic losses caused by the pandemic and need help from employers, retirement plan providers and other sources to build a financial cushion.
Participant balances in employer-sponsored retirement plans have never been higher, yet millions of Americans lack access to tax-advantaged savings opportunities in their workplace.
The percentage of plans in the healthy ‘green’ zone increased slightly; however, the pandemic had an effect on certain industries’ short- and long-term assumptions.
Pension plans still felt the effect of lower rates on liabilities, but strong equity markets helped the gain in assets outpace the gain in liabilities.
Fidelity’s latest analysis shows people often underestimate the potential cost of health care in retirement, even after two decades of watching health care costs increase year-over-year.
Employers are focusing on ways they can improve outcomes for their participants, including by offering guaranteed lifetime income solutions and helping workers create a retirement income plan.