Workplace retirement plans have a lot of money: Defined contribution assets in the U.S. stood at $11.1 trillion at the end of the year’s first quarter, up 5.3% percent from year-end 2023, per the Investment Company Institute .
Still, according to a retirement security study by the TIAA Institute, the research arm of TIAA, the U.S. retirement system is spotty for workers. The reason: There is no universal enrollment in employer-provided plans, as is often the case elsewhere.
Globally, the average retiree will spend roughly two decades in retirement, double the tenure from 50 years ago. In the U.S., since Social […]
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