Annuity. (zimmytws/Shutterstock) Fixed Income
As of November 2021, only 15 percent of private industry workers had access to a defined benefit pension from their employer. Why is that disheartening? A pension guarantees a steady income once you retire.
Meanwhile, more options are being offered to workers to save for retirement. As of 2021, 81 percent of private-sector employees had access to employer-sponsored retirement plans, such as 401(k). Furthermore, studies show that employers are looking to enhance their defined contribution (DC) retirement plans in an effort to increase employee security, financial well-being, and retention.In contrast, a Morgan Stanley at Work study […]
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